Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Jul. 30, 2021 | |
Document Information [Line Items] | ||
Document Transition Report | false | |
Document Quarterly Report | true | |
Title of 12(b) Security | Common Units Representing Limited Partnership Interests | |
Entity Incorporation, State or Country Code | DE | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2021 | |
Amendment Flag | false | |
Entity File Number | 001-35714 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | MPLX | |
Entity Registrant Name | MPLX LP | |
Entity Central Index Key | 0001552000 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding | 1,025,624,328 | |
Entity Address, Address Line One | 200 E. Hardin Street, | |
Entity Address, City or Town | Findlay, | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 45840 | |
City Area Code | 419 | |
Local Phone Number | 421-2414 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Security Exchange Name | NYSE | |
Entity Tax Identification Number | 27-0005456 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||||||
Total revenues from contracts with customers | $ 1,896 | $ 1,592 | $ 3,758 | $ 3,373 | |||||
Operating Lease, Lease Income | 99 | 98 | 198 | 194 | |||||
Income/(loss) from equity method investments(1) | [1] | 66 | 89 | 136 | [2] | (1,095) | [3] | ||
Other Operating Income | 3 | 2 | 4 | 3 | |||||
Related Party Transaction, Other Revenues from Transactions with Related Party | 27 | 25 | 55 | 51 | |||||
Revenues | 2,395 | 2,081 | 4,734 | 3,073 | |||||
Related Party Transaction, Purchases from Related Party | 297 | 280 | 595 | 556 | |||||
Depreciation and amortization | [4] | 318 | 321 | 647 | 646 | ||||
Goodwill and Intangible Asset Impairment | 42 | 0 | 42 | 2,165 | |||||
General and Administrative Expense | 87 | 96 | 173 | 193 | |||||
Taxes, Miscellaneous | 34 | 30 | 66 | 61 | |||||
Costs and Expenses | 1,464 | 1,203 | 2,829 | 4,681 | |||||
Interest And Other Financial Costs From Related Parties | 2 | 1 | 2 | 4 | |||||
Other Nonoperating Income (Expense) | 19 | 16 | 46 | 32 | |||||
Interest Expense, Debt, Excluding Amortization | 195 | 206 | 393 | 417 | |||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total | 931 | 878 | 1,905 | (1,608) | |||||
Provision for income taxes | 0 | 0 | 1 | 0 | |||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | 715 | 655 | 1,464 | (2,061) | |||||
Less: Net income (loss) attributable to noncontrolling interest | 9 | 7 | 18 | 15 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | 715 | 655 | 1,463 | (2,061) | |||||
Limited partners' interest in net income (loss) attributable to MPLX LP | 675 | 617 | 1,383 | (2,138) | |||||
Net income (loss) attributable to MPLX LP | 706 | [5] | 648 | [5] | 1,445 | [5] | (2,076) | ||
Rental cost of sales | |||||||||
Labor and Related Expense | 32 | 33 | 64 | 68 | |||||
Limited Partners Common Units [Member] | |||||||||
Net income (loss) attributable to MPLX LP | $ 675 | [5] | $ 617 | [5] | $ 1,383 | [5] | $ (2,138) | ||
Net income (loss) attributable to MPLX LP per limited partner unit: | |||||||||
Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax | $ 0.66 | $ 0.58 | $ 1.34 | $ (2.02) | |||||
Common - diluted (in USD per unit) | $ 0.66 | $ 0.58 | $ 1.34 | $ (2.02) | |||||
Weighted average limited partner units outstanding: | |||||||||
Common - basic (in shares) | 1,029 | 1,059 | 1,033 | 1,059 | |||||
Common - diluted (in shares) | 1,029 | 1,059 | 1,033 | 1,059 | |||||
Service [Member] | |||||||||
Total revenues from contracts with customers | $ 578 | $ 563 | $ 1,167 | $ 1,175 | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 907 | 857 | 1,779 | 1,785 | |||||
Service, Other [Member] | |||||||||
Total revenues from contracts with customers | 76 | 22 | 153 | 61 | |||||
Product [Member] | |||||||||
Total revenues from contracts with customers | 304 | 120 | 586 | 289 | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 31 | 30 | 73 | 63 | |||||
Oil and Gas, Refining and Marketing [Member] | |||||||||
Cost of Goods and Services Sold | 293 | 315 | 566 | 683 | |||||
Natural Gas, Midstream [Member] | |||||||||
Cost of Goods and Services Sold | 338 | 87 | 614 | 222 | |||||
Series A Preferred Stock [Member] | Preferred Partner [Member] | |||||||||
Dividends, Preferred Stock | 21 | 21 | 41 | 41 | |||||
Net income (loss) attributable to MPLX LP | 21 | [5] | 21 | [5] | 41 | [5] | 41 | ||
Series B Preferred Stock [Member] | Preferred Partner [Member] | |||||||||
Dividends, Preferred Stock | 10 | 10 | 21 | 21 | |||||
Net income (loss) attributable to MPLX LP | 10 | [5] | 10 | [5] | 21 | [5] | 21 | ||
Marathon Petroleum Corporation [Member] | |||||||||
Sales-type Lease, Revenue | 136 | 38 | 173 | 76 | |||||
Operating Lease, Lease Income | 168 | 237 | 410 | 471 | |||||
Related Party Transaction, Other Revenues from Transactions with Related Party | 11 | 10 | 23 | 20 | |||||
Related Party Transaction, Purchases from Related Party | 293 | 276 | 587 | 547 | |||||
General and Administrative Expense | 63 | 68 | 120 | 132 | |||||
Marathon Petroleum Corporation [Member] | Rental cost of sales - related parties | |||||||||
Labor and Related Expense | 23 | 41 | 62 | 87 | |||||
Marathon Petroleum Corporation [Member] | Service [Member] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 907 | 857 | 1,778 | 1,784 | |||||
Marathon Petroleum Corporation [Member] | Product [Member] | |||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | [6] | $ 31 | $ 30 | $ 73 | $ 63 | ||||
[1] | The three and six months ended June 30, 2021 includes $6 million of impairment expense. The six months ended June 30, 2020 includes $1,264 million of impairment expense. | ||||||||
[2] | Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. | ||||||||
[3] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. | ||||||||
[4] | Depreciation and amortization attributable to L&S was $136 million and $283 million for the three and six months ended June 30, 2021, respectively, and $138 million and $276 million for the three and six months ended June 30, 2020, respectively. Depreciation and amortization attributable to G&P was $182 million and $364 million for the three and six months ended June 30, 2021, respectively, and $183 million and $370 million for the three and six months ended June 30, 2020, respectively. | ||||||||
[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] | There were additional product sales to MPC that net to zero within the consolidated financial statements as the transactions are recorded net due to the terms of the agreements under which such product was sold. For the three and six months ended June 30, 2021, these sales totaled $177 million and $345 million, respectively. For the three and six months ended June 30, 2020, these sales totaled $52 million and $225 million, respectively. |
Consolidated Statements of In_2
Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Equity Method Investment, Other than Temporary Impairment | $ 6 | $ 1,264 | $ 6 | |
Interest Costs Capitalized | $ 5 | $ 10 | $ 10 | $ 23 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Statement of Comprehensive Income [Abstract] | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 715 | $ 655 | $ 1,463 | $ (2,061) | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Adjustment, Net of Tax | [1] | 0 | 0 | (2) | (1) |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 715 | 655 | 1,461 | (2,062) | |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract] | |||||
Less: Net income (loss) attributable to noncontrolling interest | 9 | 7 | 18 | 15 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total | $ 706 | $ 648 | $ 1,443 | $ (2,077) | |
[1] | 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. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) shares in Millions, $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Assets | |||
Cash and cash equivalents | $ 8 | $ 15 | |
Receivables, net | 538 | 452 | |
Current Assets, Related Parties | 614 | 677 | |
Inventories | 126 | 118 | |
Other current assets | 46 | 65 | |
Total current assets | 1,332 | 1,515 | |
Equity method investments | 4,033 | 4,036 | |
Property, plant and equipment, net | 20,352 | 21,218 | |
Intangibles, net | 896 | 959 | |
Goodwill | 7,657 | 7,657 | |
Operating Lease, Right-of-Use Asset | 297 | 309 | |
Due from Related Parties, Noncurrent | 1,144 | 672 | |
Other noncurrent assets | 62 | 48 | |
Total assets | 35,773 | 36,414 | |
Current liabilities: | |||
Accounts payable | 158 | 152 | |
Accrued Liabilities, Current | 258 | 194 | |
Due to Related Parties, Current | 812 | 356 | |
Accrued Property Plant and Equipment Current | 54 | 84 | |
Accrued interest payable | 203 | 222 | |
Operating Lease, Liability, Current | 63 | 63 | |
Other current liabilities | 178 | 150 | |
Total current liabilities | 1,727 | 2,086 | |
Long-term deferred revenue | 349 | 314 | |
Liabilities, Related Parties, Noncurrent | 306 | 283 | |
Long-term debt | 19,234 | 19,375 | |
Deferred income taxes | 11 | 12 | |
Operating Lease, Liability, Noncurrent | 232 | 244 | |
Debt, Current | 1 | 764 | |
Deferred credits and other liabilities | 151 | 115 | |
Total liabilities | 22,010 | 22,429 | |
Commitments and contingencies (see Note 21) | |||
Equity | |||
Total MPLX LP partners’ capital | 12,552 | 12,772 | |
Noncontrolling interests | 243 | 245 | |
Total equity | 12,795 | 13,017 | |
Total liabilities, preferred units and equity | 35,773 | 36,414 | |
Disposal Group, Including Discontinued Operation, Assets, Current | 0 | 188 | |
Disposal Group, Including Discontinued Operation, Liabilities, Current | 0 | 101 | |
Series A Convertible Preferred Units | |||
Current liabilities: | |||
Series A preferred units | 968 | 968 | |
Marathon Petroleum Corporation [Member] | |||
Assets | |||
Other current assets | 2 | 1 | |
Operating Lease, Right-of-Use Asset | 230 | 231 | |
Due from Related Parties, Noncurrent | 32 | 32 | |
Current liabilities: | |||
Due to Related Parties, Current | 689 | 215 | |
Operating Lease, Liability, Current | 1 | 1 | |
Operating Lease, Liability, Noncurrent | $ 229 | $ 229 | |
Series B Preferred Stock [Member] | |||
Current liabilities: | |||
Units issued | 0.6 | 0.6 | |
Equity | |||
Total MPLX LP partners’ capital | $ 611 | $ 611 | |
Units Outstanding | 0.6 | 0.6 | |
Limited Partners Common Units [Member] | Public [Member] | |||
Current liabilities: | |||
Units issued | 380 | 391 | |
Equity | |||
Total MPLX LP partners’ capital | $ 9,061 | $ 9,384 | |
Units Outstanding | 380 | 391 | |
Limited Partners Common Units [Member] | Marathon Petroleum Corporation [Member] | |||
Current liabilities: | |||
Units issued | 647 | 647 | |
Equity | |||
Total MPLX LP partners’ capital | $ 2,897 | $ 2,792 | |
Units Outstanding | 647 | 647 | |
LOOP and Explorer | |||
Equity | |||
Accumulated other comprehensive loss | [1] | $ (17) | $ (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.” |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares shares in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Limited Partners Common Units [Member] | Public [Member] | ||
Units issued | 380 | 391 |
Units Outstanding | 380 | 391 |
Limited Partners Common Units [Member] | Marathon Petroleum Corporation [Member] | ||
Units issued | 647 | 647 |
Units Outstanding | 647 | 647 |
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 | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||||
Operating activities: | ||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 715 | $ 655 | $ 1,463 | $ (2,061) | ||||
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | ||||||||
Amortization of deferred financing costs | 35 | 29 | ||||||
Depreciation and amortization | [1] | 318 | 321 | 647 | 646 | |||
Goodwill and Intangible Asset Impairment | 42 | 0 | 42 | 2,165 | ||||
Deferred income taxes | (1) | (1) | ||||||
(Income)/loss from equity method investments(1) | [2] | (66) | (89) | (136) | [3] | 1,095 | [4] | |
Distributions from unconsolidated affiliates | 239 | 226 | ||||||
Changes in: | ||||||||
Current receivables | (83) | 31 | ||||||
Inventories | (8) | (7) | ||||||
Fair value of derivatives | 39 | (9) | ||||||
Current accounts payable and accrued liabilities | 77 | (102) | ||||||
Current assets/current liabilities - related parties | 101 | 27 | ||||||
Increase (Decrease) in Other Operating Assets and Liabilities, Net | 1 | (1) | ||||||
Deferred revenue | 43 | 49 | ||||||
All other, net | 29 | 26 | ||||||
Net cash provided by operating activities | 2,489 | 2,114 | ||||||
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||||||||
Additions to property, plant and equipment | (235) | (708) | ||||||
Disposal of assets | 74 | 43 | ||||||
Investments in unconsolidated affiliates | (84) | (222) | ||||||
Distributions from unconsolidated affiliates - return of capital | 0 | 110 | ||||||
Net cash used in investing activities | (245) | (777) | ||||||
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||||||||
Long-term debt - borrowings | 2,800 | 2,500 | ||||||
Long-term debt - repayments | (3,746) | (1,682) | ||||||
Payments for Repurchase of Common Stock | (310) | 0 | ||||||
Distributions to noncontrolling interests | (20) | (17) | ||||||
Distributions to unitholders and general partner | (1,421) | (1,445) | ||||||
Proceeds from Contributions from Parent | 17 | 20 | ||||||
All other, net | (2) | (5) | ||||||
Net cash used in financing activities | (2,251) | (1,285) | ||||||
Net (decrease)/increase in cash, cash equivalents and restricted cash | (7) | 52 | ||||||
Cash, cash equivalents and restricted cash at beginning of period | 15 | 15 | $ 15 | |||||
Cash, cash equivalents and restricted cash at end of period | $ 8 | $ 67 | 8 | 67 | 15 | |||
Loss on disposal of assets | 1 | 1 | ||||||
Related Party Revolving Credit Agreement [Member] | MPC Investment [Member] | ||||||||
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||||||||
Related party debt - borrowings | 4,435 | 2,708 | 6,264 | |||||
Repayments of Related Party Debt | (3,942) | (3,302) | $ (6,858) | |||||
Series A Preferred Stock [Member] | Preferred Partner [Member] | ||||||||
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||||||||
Distributions to preferred unitholders | (41) | (41) | ||||||
Series B Preferred Stock [Member] | Preferred Partner [Member] | ||||||||
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||||||||
Distributions to preferred unitholders | $ (21) | $ (21) | ||||||
[1] | Depreciation and amortization attributable to L&S was $136 million and $283 million for the three and six months ended June 30, 2021, respectively, and $138 million and $276 million for the three and six months ended June 30, 2020, respectively. Depreciation and amortization attributable to G&P was $182 million and $364 million for the three and six months ended June 30, 2021, respectively, and $183 million and $370 million for the three and six months ended June 30, 2020, respectively. | |||||||
[2] | The three and six months ended June 30, 2021 includes $6 million of impairment expense. The six months ended June 30, 2020 includes $1,264 million of impairment expense. | |||||||
[3] | Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. | |||||||
[4] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | |
Statement of Financial Position [Abstract] | ||||
Equity Method Investment, Other than Temporary Impairment | $ 6 | $ 1,264 | $ 1,264 | $ 6 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Millions | Total | LOOP and Explorer | Series B Preferred Stock [Member] | Public [Member]Limited Partners Common Units [Member] | Marathon Petroleum Corporation [Member]Limited Partners Common Units [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | |
Noncontrolling interests | $ 249 | |||||||
Total MPLX LP partners’ capital | $ 611 | $ 10,800 | $ 4,968 | |||||
Accumulated other comprehensive loss | $ (15) | |||||||
Beginning Balance at Dec. 31, 2019 | 16,613 | |||||||
Distributions to: | 2,736 | (11) | (1,022) | (1,733) | $ 0 | $ (8) | ||
Contributions from: | (225) | 0 | 0 | (225) | 0 | 0 | ||
Unitholders and general partner | (738) | (21) | (271) | (446) | 0 | 0 | ||
Noncontrolling interests | (9) | 0 | 0 | 0 | 0 | (9) | ||
Other | 1 | 0 | 2 | 0 | (1) | 0 | ||
Ending Balance at Mar. 31, 2020 | 13,356 | |||||||
Noncontrolling interests | 248 | |||||||
Total MPLX LP partners’ capital | 601 | 9,509 | 3,014 | |||||
Accumulated other comprehensive loss | (16) | |||||||
Distributions to: | (634) | (10) | 229 | 388 | 0 | (7) | ||
Contributions from: | (6) | 0 | 0 | (6) | 0 | 0 | ||
Unitholders and general partner | (728) | 0 | (270) | (458) | 0 | 0 | ||
Noncontrolling interests | (8) | 0 | 0 | 0 | 0 | (8) | ||
Other | 2 | 0 | 1 | 1 | 0 | 0 | ||
Ending Balance at Jun. 30, 2020 | 13,262 | |||||||
Noncontrolling interests | 247 | |||||||
Total MPLX LP partners’ capital | 611 | 9,469 | 2,951 | |||||
Accumulated other comprehensive loss | [1] | (16) | ||||||
Noncontrolling interests | 245 | |||||||
Total MPLX LP partners’ capital | 12,772 | 611 | 9,384 | 2,792 | ||||
Accumulated other comprehensive loss | [1] | (15) | ||||||
Beginning Balance at Dec. 31, 2020 | 13,017 | |||||||
Distributions to: | (729) | (11) | 266 | 443 | 0 | (9) | ||
Stock Repurchased and Retired During Period, Value | (155) | 0 | (155) | 0 | 0 | 0 | ||
Contributions from: | (7) | 0 | 0 | (7) | 0 | 0 | ||
Unitholders and general partner | (735) | (21) | (269) | (445) | 0 | 0 | ||
Noncontrolling interests | (10) | 0 | 0 | 0 | 0 | (10) | ||
Other | (3) | 0 | 0 | (1) | (2) | 0 | ||
Ending Balance at Mar. 31, 2021 | 12,850 | |||||||
Beginning Balance at Dec. 31, 2020 | 13,017 | |||||||
Distributions to: | (21) | |||||||
Stock Repurchased and Retired During Period, Value | (310) | |||||||
Unitholders and general partner | (21) | |||||||
Ending Balance at Jun. 30, 2021 | 12,795 | |||||||
Noncontrolling interests | 244 | |||||||
Total MPLX LP partners’ capital | 601 | 9,226 | 2,796 | |||||
Accumulated other comprehensive loss | (17) | |||||||
Beginning Balance at Mar. 31, 2021 | 12,850 | |||||||
Distributions to: | (693) | (10) | 251 | 423 | 0 | (9) | ||
Stock Repurchased and Retired During Period, Value | (155) | 0 | (155) | 0 | 0 | 0 | ||
Contributions from: | (122) | 0 | 0 | (122) | 0 | 0 | ||
Unitholders and general partner | (707) | 0 | (262) | (445) | 0 | 0 | ||
Noncontrolling interests | (10) | 0 | 0 | 0 | 0 | (10) | ||
Other | 2 | 0 | 1 | 1 | $ 0 | $ 0 | ||
Ending Balance at Jun. 30, 2021 | 12,795 | |||||||
Noncontrolling interests | 243 | |||||||
Total MPLX LP partners’ capital | $ 12,552 | $ 611 | $ 9,061 | $ 2,897 | ||||
Accumulated other comprehensive loss | [1] | $ (17) | ||||||
[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.” |
Description of the Business and
Description of the Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
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 31, 2020, MPLX completed the exchange of Western Refining Wholesale, LLC (“WRW”) to Western Refining Southwest, Inc. (now known as Western Refining Southwest LLC) (“WRSW”), a wholly owned subsidiary of MPC, in exchange for the redemption of 18,582,088 MPLX common units held by WRSW (the “Wholesale Exchange”). See Note 3 for additional information regarding the Wholesale Exchange. These financial statements include the results of WRSW through July 31, 2020. Impairments – During the first half of 2021, we continued to see improvements in the environment in which our business operates as COVID-19 impacts continue to subside. The increased availability of vaccinations and easing of COVID-19 restrictions has been followed by an increase in economic activity, however, we are unable to predict the potential effects a resurgence of COVID-19 may have on our financial position and results. In the second quarter of 2021, we recognized impairment expense of $42 million within our G&P segment related to our continued emphasis on portfolio optimization with the anticipated divestiture of several non-core assets and the closure of other non-core assets. During the first quarter of 2020, the overall deterioration in the economy and the environment in which MPLX and its customers operate, as well as a sustained decrease in unit price, were considered triggering events at that time resulting in impairments of the carrying value of certain assets. 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 refined and updated production forecasts in response to the environment at that time, which impacted their 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 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, 2020. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full year. MPLX’s consolidated financial statements include all majority-owned and controlled subsidiaries. For non-wholly owned consolidated subsidiaries, the interests owned by third parties have been recorded as “Noncontrolling interests” on the accompanying Consolidated Balance Sheets. Intercompany investments, accounts and transactions have been eliminated. MPLX’s investments in which MPLX exercises significant influence but does not control and does not have a controlling financial interest are accounted for using the equity method. MPLX’s investments in 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 | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Changes and Error Corrections [Abstract] | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Accounting StandardsRecently AdoptedWe did not adopt any ASUs during the first six months of 2021 that are expected to have a material impact to our financial statements or financial statement disclosures |
Acquisitions
Acquisitions | 6 Months Ended |
Jun. 30, 2021 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Acquisitions and Dispositions Sale of Javelina Assets and Liabilities On February 12, 2021, MarkWest Energy Operating Company, L.L.C., (“MarkWest Energy”) a wholly owned subsidiary of MPLX, completed the sale of all of MarkWest Energy’s equity interests in MarkWest Javelina Company L.L.C., MarkWest Javelina Pipeline Company L.L.C., and MarkWest Gas Services L.L.C. (collectively, “Javelina”) pursuant to the terms of an Equity Purchase Agreement entered into with a third party on December 23, 2020. The agreement included adjustments for working capital as well as an earnout provision based on the performance of the assets. No gain or loss was recorded on the sale. The estimated value of the earnout provision was recorded as a contingent asset shown within “Other noncurrent assets” on the Consolidated Balance Sheets as of June 30, 2021. Javelina’s assets and liabilities sold are shown on the Consolidated Balance Sheets as “Assets held for sale” and “Liabilities held for sale” for the year ended December 31, 2020. Prior to the sale, Javelina was reported within the G&P segment. Wholesale Exchange |
Investments and Noncontrolling
Investments and Noncontrolling Interest | 6 Months Ended |
Jun. 30, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments and Noncontrolling Interests [Text Block] | Investments and Noncontrolling Interests The following table presents MPLX’s equity method investments at the dates indicated: Ownership as of Carrying value at June 30, June 30, December 31, (In millions, except ownership percentages) 2021 2021 2020 L&S MarEn Bakken Company LLC (1) 25% $ 460 $ 465 Illinois Extension Pipeline Company, L.L.C. 35% 257 254 LOOP LLC 41% 264 252 Andeavor Logistics Rio Pipeline LLC (2) 67% 191 194 Minnesota Pipe Line Company, LLC 17% 185 188 Whistler Pipeline LLC (2) 38% 181 185 Explorer Pipeline Company 25% 65 72 W2W Holdings LLC (2)(3) 50% 70 72 Other (2) 109 103 Total L&S 1,782 1,785 G&P MarkWest Utica EMG, L.L.C. (2) 57% 690 698 Sherwood Midstream LLC (2) 50% 550 557 MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. (2) 67% 327 307 MarkWest Torñado GP, L.L.C. (2) 60% 213 188 Rendezvous Gas Services, L.L.C. (2) 78% 153 159 Sherwood Midstream Holdings LLC (2) 51% 141 148 Centrahoma Processing LLC 40% 131 145 Other (2) 46 49 Total G&P 2,251 2,251 Total $ 4,033 $ 4,036 (1) The investment in MarEn Bakken Company LLC includes our 9.19 percent indirect interest in a joint venture (“Dakota Access”) that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system or DAPL. (2) Investments deemed to be VIEs. Some investments included within “Other” have also been deemed to be VIEs. (3) Through our ownership interest in W2W Holdings LLC, we have a 15 percent equity interest Wink to Webster Pipeline LLC. For those entities that have been deemed to be VIEs, 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, 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 and as such 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 LLC (“Sherwood Midstream”) has been deemed the primary beneficiary of Sherwood Midstream Holdings LLC (Sherwood Midstream Holdings”) due to its controlling financial interest through its authority to manage the joint venture. As a result, Sherwood Midstream consolidates Sherwood Midstream Holdings. Therefore, MPLX also reports its portion of Sherwood Midstream Holdings’ net assets as a component of its investment in Sherwood Midstream. As of June 30, 2021, MPLX has a 24.55 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 six months ended June 30, 2021. During the first quarter of 2020, we recorded an other than temporary impairment for three joint ventures in which we have an interest as discussed in Note 1. 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 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 six months ended June 30, 2021 and 2020 is as follows: Six Months Ended June 30, 2021 (In millions) VIEs Non-VIEs Total Revenues and other income $ 336 $ 607 $ 943 Costs and expenses 217 284 501 Income from operations 119 323 442 Net income 105 283 388 Income from equity method investments (1) $ 73 $ 63 $ 136 (1) Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. Six Months Ended June 30, 2020 (In millions) VIEs Non-VIEs Total Revenues and other income $ (43) $ 640 $ 597 Costs and expenses 202 274 476 (Loss)/income from operations (245) 366 121 Net (loss)/income (283) 332 49 (Loss)/income from equity method investments (1) $ (1,178) $ 83 $ (1,095) (1) Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. Summarized balance sheet information for MPLX’s equity method investments as of June 30, 2021 and December 31, 2020 is as follows: June 30, 2021 (In millions) VIEs Non-VIEs Total Current assets $ 355 $ 464 $ 819 Noncurrent assets 7,401 4,909 12,310 Current liabilities 183 281 464 Noncurrent liabilities $ 2,379 $ 862 $ 3,241 December 31, 2020 (In millions) VIEs Non-VIEs Total Current assets $ 530 $ 318 $ 848 Noncurrent assets 6,889 4,997 11,886 Current liabilities 323 187 510 Noncurrent liabilities $ 1,904 $ 830 $ 2,734 As of June 30, 2021 and December 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 $56 million and $57 million, respectively. As of June 30, 2021 and December 31, 2020, the carrying value of MPLX’s equity method investments in the L&S segment exceeded the underlying net assets of its investees by $332 million and $331 million, respectively. |
Related Party Agreements and Tr
Related Party Agreements and Transactions | 6 Months Ended |
Jun. 30, 2021 | |
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 quarterly 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 extends loans to MPLX on a revolving basis as requested by MPLX and as agreed to by MPC Investment. The borrowing capacity of the MPC Loan Agreement is $1.5 billion aggregate principal amount of all loans outstanding at any one time. The loan agreement is scheduled to expire, and borrowings under the loan agreement are scheduled to mature and 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 maturity. Borrowings under the MPC Loan Agreement bear interest at LIBOR plus 1.25 percent or such lower rate as would be applicable to such loans under the MPLX Credit Agreement as discussed in Note 15. Activity on the MPC Loan Agreement was as follows: (In millions) Six Months Ended June 30, 2021 Year Ended December 31, 2020 Borrowings $ 4,435 $ 6,264 Average interest rate of borrowings 1.354 % 2.278 % Repayments $ 3,942 $ 6,858 Outstanding balance at end of period (1) $ 493 $ — (1) Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. Related Party Revenue Related party sales to MPC consist of crude oil and refined products pipeline 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 June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Service revenues - related parties MPC $ 907 $ 857 $ 1,778 $ 1,784 Other — — 1 1 Total Service revenue - related parties 907 857 1,779 1,785 Rental income - related parties MPC 168 237 410 471 Product sales - related parties (1) MPC 31 30 73 63 Sales-type lease revenue - related parties MPC 136 38 173 76 Other income - related parties MPC 11 10 23 20 Other 16 15 32 31 Total Other income - related parties $ 27 $ 25 $ 55 $ 51 (1) There were additional product sales to MPC that net to zero within the consolidated financial statements as the transactions are recorded net due to the terms of the agreements under which such product was sold. For the three and six months ended June 30, 2021, these sales totaled $177 million and $345 million, respectively. For the three and six months ended June 30, 2020, these sales totaled $52 million and $225 million, respectively. 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 lease agreements with MPC. Expenses incurred from MPC under the omnibus and employee services agreements as well as other purchases from MPC included on the Consolidated Statements of Income are as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Rental cost of sales - related parties MPC $ 23 $ 41 $ 62 $ 87 Purchases - related parties MPC 293 276 587 547 Other 4 4 8 9 Total Purchases - related parties 297 280 595 556 General and administrative expenses MPC $ 63 $ 68 $ 120 $ 132 Some charges incurred under the omnibus and ESA agreements are related to engineering services and are associated with assets under construction. These charges are added to “Property, plant and equipment, net” on the Consolidated Balance Sheets. For the three and six months ended June 30, 2021, these charges totaled $15 million and $27 million, respectively. For the three and six months ended June 30, 2020, these charges totaled $15 million and $51 million, respectively. MPC has also been advancing certain strategic priorities to lay a foundation for long-term success, including plans to optimize its assets and structurally lower costs in 2021 and beyond. In 2020, MPC approved and executed an involuntary workforce reduction plan, which together with employee reductions resulting from MPC's indefinite idling of its Martinez, California and Gallup, New Mexico refineries, affected approximately 2,050 employees. All of the employees that conduct MPLX’s business are directly employed by affiliates of MPC, and certain of those employees were affected by MPC’s workforce reductions. During the third and fourth quarters of 2020, MPLX reimbursed MPC for $37 million related to severance and employee benefits related expenses that MPC recorded in connection with its workforce reductions. There were no such costs in the first six months of 2021. 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 as revenue over the remaining term of the applicable agreements or in some cases as an equity contribution from its sponsor. (In millions) June 30, 2021 December 31, 2020 Current assets - related parties Receivables - MPC $ 519 $ 615 Receivables - Other 8 27 Prepaid - MPC 12 4 Other - MPC 2 1 Lease Receivables - MPC 73 30 Total 614 677 Noncurrent assets - related parties Long-term receivables - MPC 32 32 Right of use assets - MPC 230 231 Long-term lease receivables - MPC 844 386 Unguaranteed residual asset - MPC 38 23 Total 1,144 672 Current liabilities - related parties Payables - MPC 689 215 Payables - Other 31 43 Operating lease liabilities - MPC 1 1 Deferred revenue - Minimum volume deficiencies - MPC 51 66 Deferred revenue - Project reimbursements - MPC 39 30 Deferred revenue - Project reimbursements - Other 1 1 Total 812 356 Long-term liabilities - related parties Long-term operating lease liabilities - MPC 229 229 Long-term deferred revenue - Project reimbursements - MPC 70 47 Long-term deferred revenue - Project reimbursements - Other 7 7 Total $ 306 $ 283 Other Related Party Transactions From time to time, MPLX may also sell to or purchase from related parties, assets and inventory at the lesser of average unit cost or net realizable value. Sales to related parties for the six months ended June 30, 2021 and 2020 were $15 million and $4 million, respectively. Purchases from related parties were immaterial for the six months ended June 30, 2021 and 2020. |
Net Income Per Limited Partner
Net Income Per Limited Partner Unit | 6 Months Ended |
Jun. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 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. During the three and six months ended June 30, 2021 and 2020, MPLX had participating securities consisting of common units, certain equity-based compensation awards, Series A preferred units and Series B preferred units and had dilutive potential common units consisting of certain equity-based compensation awards. Potential common units omitted from the diluted earnings per unit calculation for the three and six months ended June 30, 2021 and 2020 were less than 1 million. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Net income/(loss) attributable to MPLX LP $ 706 $ 648 $ 1,445 $ (2,076) Less: Distributions declared on Series A preferred units (1) 21 21 41 41 Distributions declared on Series B preferred units (1) 10 10 21 21 Limited partners’ distributions declared on MPLX common units (including common units of general partner) (1) 705 715 1,412 1,443 Undistributed net gain/(loss) attributable to MPLX LP $ (30) $ (98) $ (29) $ (3,581) (1) See Note 7 for distribution information. Three Months Ended June 30, 2021 (In millions, except per unit data) Limited Partners’ 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 $ 705 $ 21 $ 10 $ 736 Undistributed net loss attributable to MPLX LP (30) — — (30) Net income attributable to MPLX LP (1) $ 675 $ 21 $ 10 $ 706 Weighted average units outstanding: Basic 1,029 Diluted 1,029 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.66 Diluted $ 0.66 (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 June 30, 2020 (In millions, except per unit data) Limited Partners’ 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 $ 715 $ 21 $ 10 $ 746 Undistributed net loss attributable to MPLX LP (98) — — (98) Net income attributable to MPLX LP (1) $ 617 $ 21 $ 10 $ 648 Weighted average units outstanding: Basic 1,059 Diluted 1,059 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.58 Diluted $ 0.58 (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. Six Months Ended June 30, 2021 (In millions, except per unit data) Limited Partners’ Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 1,412 $ 41 $ 21 $ 1,474 Undistributed net loss attributable to MPLX LP (29) — — (29) Net income attributable to MPLX LP (1) $ 1,383 $ 41 $ 21 $ 1,445 Weighted average units outstanding: Basic 1,033 Diluted 1,033 Net income attributable to MPLX LP per limited partner unit: Basic $ 1.34 Diluted $ 1.34 (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. Six Months Ended June 30, 2020 (In millions, except per unit data) Limited Partners’ Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 1,443 $ 41 $ 21 $ 1,505 Undistributed net loss attributable to MPLX LP (3,581) — — (3,581) Net (loss)/income attributable to MPLX LP (1) $ (2,138) $ 41 $ 21 $ (2,076) Weighted average units outstanding: Basic 1,059 Diluted 1,059 Net income attributable to MPLX LP per limited partner unit: Basic $ (2.02) Diluted $ (2.02) (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 | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Equity | Equity The changes in the number of common units outstanding during the six months ended June 30, 2021 are summarized below: (In units) Common Balance at December 31, 2020 1,038,777,978 Unit-based compensation awards 183,111 Units redeemed in unit repurchase program (11,929,998) Balance at June 30, 2021 1,027,031,091 Unit Repurchase Program On November 2, 2020, MPLX announced the board authorization of a unit repurchase program for the repurchase of up to $1 billion of MPLX’s outstanding common units held by the public. MPLX may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, tender offers, accelerated unit repurchases or open market solicitations for units, some of which may be effected through Rule 10b5-1 plans. The timing and amount of repurchases will depend upon several factors, including market and business conditions, and repurchases may be initiated, suspended or discontinued at any time. The repurchase authorization has no expiration date. During the six months ended June 30, 2021, 11,929,998 public common units were repurchased at an average cost per unit of $26.02. Total cash paid for units repurchased during 2021 was $310 million with $657 million remaining available under the authorization for future repurchases as of June 30, 2021. As of June 30, 2021, we had agreements to acquire 126,293 additional common units for $4 million, which settled in July 2021. Wholesale Exchange In connection with the Wholesale Exchange as discussed in Note 3, 18,582,088 units were redeemed by MPC in exchange for all of the outstanding membership interests in WRW. These units were cancelled by MPLX immediately following the transaction. Series B Preferred Units MPLX has outstanding 600,000 units of 6.875 percent Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests of MPLX with a price to the public of $1,000 per unit (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. Series B preferred unitholders are entitled to receive a fixed distribution of $68.75 per unit, per annum, 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, in each case assuming a distribution is declared by the Board of Directors. The changes in the Series B preferred unit balance from December 31, 2020 through June 30, 2021 are summarized below. Series B preferred units are included in the Consolidated Balance Sheets and Consolidated Statements of Equity within “Series B preferred units”. (In millions) Series B Preferred Units Balance at December 31, 2020 $ 611 Net income allocated 21 Distributions received by Series B preferred unitholders (21) Balance at June 30, 2021 $ 611 Cash distributions – In accordance with the MPLX partnership agreement, on July 27, 2021, MPLX declared a quarterly cash distribution for the second quarter of 2021, totaling $705 million, or $0.6875 per common unit. This rate will also be received by Series A preferred unitholders. These distributions will be paid on August 13, 2021 to common unitholders of record on August 6, 2021. Additionally, in accordance with the distribution rights discussed above, MPLX will make a cash distribution totaling $21 million to Series B unitholders on August 16, 2021. Quarterly distributions for 2021 and 2020 are summarized below: (Per common unit) 2021 2020 March 31, $ 0.6875 $ 0.6875 June 30, $ 0.6875 $ 0.6875 The allocation of total quarterly cash distributions to limited and preferred unitholders is as follows for the three and six months ended June 30, 2021 and 2020. 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 June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Common and preferred unit distributions: Common unitholders, includes common units of general partner $ 705 $ 715 $ 1,412 $ 1,443 Series A preferred unit distributions 21 21 41 41 Series B preferred unit distributions 10 10 21 21 Total cash distributions declared $ 736 $ 746 $ 1,474 $ 1,505 |
Series A Preferred Units
Series A Preferred Units | 6 Months Ended |
Jun. 30, 2021 | |
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 July 27, 2021, MPLX declared a quarterly cash distribution of $0.6875 per common unit for the second quarter of 2021. 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 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 June 30, 2021. The changes in the redeemable preferred balance from December 31, 2020 through June 30, 2021 are summarized below: (In millions) Redeemable Series A Preferred Units Balance at December 31, 2020 $ 968 Net income allocated 41 Distributions received by Series A preferred unitholders (41) Balance at June 30, 2021 $ 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 | 6 Months Ended |
Jun. 30, 2021 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Segment InformationMPLX’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 June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 L&S Service revenue $ 992 $ 931 $ 1,945 $ 1,935 Rental income 176 246 425 488 Product related revenue 4 21 8 40 Sales-type lease revenue - related parties 136 38 173 76 Income from equity method investments 35 40 71 90 Other income 16 14 31 27 Total segment revenues and other income (1) 1,359 1,290 2,653 2,656 Segment Adjusted EBITDA (2) 947 839 1,843 1,711 Capital expenditures 76 108 135 292 Investments in unconsolidated affiliates 13 74 22 128 G&P Service revenue 493 489 1,001 1,025 Rental income 91 89 183 177 Product related revenue 407 151 804 373 Income/(loss) from equity method investments 31 49 65 (1,185) Other income 14 13 28 27 Total segment revenues and other income (1) 1,036 791 2,081 417 Segment Adjusted EBITDA (2) 427 388 883 810 Capital expenditures 36 110 66 244 Investments in unconsolidated affiliates $ 36 $ 57 $ 62 $ 94 (1) Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $138 million and $267 million for the three and six months ended June 30, 2021, respectively, and $146 million and $304 million for the three and six months ended June 30, 2020, respectively. Third party revenues for the G&P segment were $988 million and $1,977 million for the three and six months ended June 30, 2021, respectively, and $748 million and $323 million for the three and six months ended June 30, 2020, respectively. (2) See below for the reconciliation from Segment Adjusted EBITDA to “Net income.” (In millions) June 30, 2021 December 31, 2020 Segment assets Cash and cash equivalents $ 8 $ 15 L&S 20,869 20,938 G&P 14,896 15,461 Total assets $ 35,773 $ 36,414 The table below provides a reconciliation between “Net income/(loss)” and Segment Adjusted EBITDA. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Reconciliation to Net income/(loss): L&S Segment Adjusted EBITDA $ 947 $ 839 $ 1,843 $ 1,711 G&P Segment Adjusted EBITDA 427 388 883 810 Total reportable segments 1,374 1,227 2,726 2,521 Depreciation and amortization (1) (318) (321) (647) (646) Provision for income taxes — — (1) — Amortization of deferred financing costs (18) (15) (35) (29) Non-cash equity-based compensation (2) (3) (5) (8) Impairment expense (42) — (42) (2,165) Net interest and other financial costs (198) (208) (418) (424) Gain on extinguishment of debt — — 12 — Income/(loss) from equity method investments 66 89 136 (1,095) Distributions/adjustments related to equity method investments (121) (115) (242) (239) Unrealized derivative (losses)/gains (2) (36) (6) (39) 9 Other — (1) (2) (2) Adjusted EBITDA attributable to noncontrolling interests 10 8 20 17 Net income/(loss) $ 715 $ 655 $ 1,463 $ (2,061) (1) Depreciation and amortization attributable to L&S was $136 million and $283 million for the three and six months ended June 30, 2021, respectively, and $138 million and $276 million for the three and six months ended June 30, 2020, respectively. Depreciation and amortization attributable to G&P was $182 million and $364 million for the three and six months ended June 30, 2021, respectively, and $183 million and $370 million for the three and six months ended June 30, 2020, respectively. (2) MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consist of the following: (In millions) June 30, 2021 December 31, 2020 NGLs $ 5 $ 5 Line fill 18 13 Spare parts, materials and supplies 103 100 Total inventories $ 126 $ 118 |
Property, Plant and Equipment
Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment with associated accumulated depreciation is shown below: (In millions) June 30, 2021 December 31, 2020 L&S Pipelines $ 6,045 $ 6,026 Refining logistics 1,789 2,333 Terminals 1,652 1,643 Marine 965 965 Land, building and other 1,575 1,584 Construction-in-progress 217 262 Total L&S property, plant and equipment 12,243 12,813 G&P Gathering and transportation 7,574 7,547 Processing and fractionation 5,726 5,721 Land, building and other 511 507 Construction-in-progress 276 287 Total G&P property, plant and equipment 14,087 14,062 Total property, plant and equipment 26,330 26,875 Less accumulated depreciation 5,978 5,657 Property, plant and equipment, net $ 20,352 $ 21,218 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. |
Goodwill and Intangibles (Notes
Goodwill and Intangibles (Notes) | 6 Months Ended |
Jun. 30, 2021 | |
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. There were no impairments recorded as a result of our November 30, 2020 annual goodwill impairment evaluation. 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 reduced production growth forecasts from our producer customers. Changes in the carrying amount of goodwill were as follows: (In millions) L&S G&P Total Gross goodwill as of December 31, 2019 $ 7,722 $ 3,141 $ 10,863 Accumulated impairment losses — (1,327) (1,327) Balance as of December 31, 2019 7,722 1,814 9,536 Impairment losses — (1,814) (1,814) Wholesale Exchange (Note 3) (65) — (65) Balance as of December 31, 2020 7,657 — 7,657 Balance as of June 30, 2021 7,657 — 7,657 Gross goodwill as of June 30, 2021 7,657 3,141 10,798 Accumulated impairment losses — (3,141) (3,141) Balance as of June 30, 2021 $ 7,657 $ — $ 7,657 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 was 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. No additional impairments have been recorded since that time. MPLX’s remaining intangible assets are comprised of customer contracts and relationships. Gross intangible assets with accumulated amortization as of June 30, 2021 and December 31, 2020 is shown below: June 30, 2021 December 31, 2020 (In millions) Useful Lives Gross Accumulated Amortization (1) Net Gross Accumulated Amortization (2) Net L&S 6 - 8 years $ 283 $ (99) $ 184 $ 283 $ (81) $ 202 G&P 6 - 25 years 1,288 (576) 712 1,288 (531) 757 $ 1,571 $ (675) $ 896 $ 1,571 $ (612) $ 959 (1) Amortization expense attributable to the L&S and G&P segments for the six months ended June 30, 2021 was $18 million and $45 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 June 30, 2021 is as follows: (In millions) 2021 $ 64 2022 127 2023 127 2024 127 2025 113 Thereafter 338 Total $ 896 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2021 | |
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 June 30, 2021 and December 31, 2020 by fair value hierarchy level. MPLX has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. June 30, 2021 December 31, 2020 (In millions) Assets Liabilities Assets Liabilities Significant unobservable inputs (Level 3) Embedded derivatives in commodity contracts $ — $ (102) $ — $ (63) Total carrying value on Consolidated Balance Sheets $ — $ (102) $ — $ (63) 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 $0.64 to $1.59 per gallon with a weighted average of $0.81 per gallon and (2) the probability of renewal of 100 percent for the first five five Changes in Level 3 Fair Value Measurements The following table is a reconciliation of the net beginning and ending balances recorded for net assets and liabilities classified as Level 3 in the fair value hierarchy. Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 (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 $ — $ (66) $ — $ (45) Total (losses)/gains (realized and unrealized) included in earnings (1) — (39) — (7) Settlements — 3 — 1 Fair value at end of period — (102) — (51) The amount of total (losses)/gains for the period included in earnings attributable to the change in unrealized (losses)/gains relating to liabilities still held at end of period $ — $ (39) $ — $ (6) Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 (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 $ — $ (63) $ — $ (60) Total (losses)/gains (realized and unrealized) included in earnings (1) — (45) — 7 Settlements — 6 — 2 Fair value at end of period — (102) — (51) The amount of total (losses)/gains for the period included in earnings attributable to the change in unrealized (losses)/gains relating to liabilities still held at end of period $ — $ (41) $ — $ 7 (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 long-term debt fair values are considered Level 3 measurements. The following table summarizes the fair value and carrying value of our debt, excluding finance leases: June 30, 2021 December 31, 2020 (In millions) Fair Value Carrying Value Fair Value Carrying Value Long-term debt (including amounts due within one year) $ 21,838 $ 19,335 $ 22,951 $ 20,244 |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Financial Instruments As of June 30, 2021, 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 Certain derivative positions are subject to master netting agreements, therefore, MPLX has elected to offset derivative assets and liabilities that are legally permissible to be offset. As of June 30, 2021 and December 31, 2020, there were no derivative assets or liabilities that were offset on the Consolidated Balance Sheets. The impact of MPLX’s derivative instruments on its Consolidated Balance Sheets is summarized below: (In millions) June 30, 2021 December 31, 2020 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 $ — $ (14) $ — $ (7) Other noncurrent assets / Deferred credits and other liabilities — (88) — (56) Total $ — $ (102) $ — $ (63) (1) Includes embedded derivatives in commodity contracts as discussed above. For further information regarding the fair value measurement of derivative instruments, 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, 2020. The impact of MPLX’s derivative contracts not designated as hedging instruments and the location of gains and losses recognized on the Consolidated Statements of Income is summarized below: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Purchased product costs Realized (loss)/gain $ (3) $ (1) $ (6) $ (2) Unrealized (loss)/gain (36) (6) (39) 9 Purchased product costs derivative (loss)/gain (39) (7) (45) 7 Total derivative (loss)/gain $ (39) $ (7) $ (45) $ 7 |
Debt
Debt | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Debt | Debt MPLX’s outstanding borrowings consist of the following: (In millions) June 30, 2021 December 31, 2020 MPLX LP: Bank revolving credit facility $ — $ 175 Floating rate senior notes 1,000 1,000 Fixed rate senior notes 18,532 19,240 Consolidated subsidiaries: MarkWest 23 23 ANDX 45 87 Financing lease obligations (1) 9 11 Total 19,609 20,536 Unamortized debt issuance costs (109) (116) Unamortized discount/premium (265) (281) Amounts due within one year (1) (764) Total long-term debt due after one year $ 19,234 $ 19,375 (1) See Note 20 for lease information. Credit Agreement MPLX’s amended and restated revolving credit facility (as amended, the “MPLX Credit Agreement”), has a borrowing capacity of up to $3.5 billion and a term that extends to July 2024. During the six months ended June 30, 2021, MPLX borrowed $2.8 billion under the MPLX Credit Agreement, at an average interest rate of 1.345 percent, and repaid $2.975 billion. At June 30, 2021, MPLX had no outstanding borrowings and less than $1 million in letters of credit outstanding under the MPLX Credit Agreement, resulting in total availability of $3.50 billion, or 100 percent of the borrowing capacity . Floating Rate Senior Notes MPLX has $1.0 billion of aggregate principal amount of floating rate senior notes due September 2022. The notes were offered at a price to the public of 100 percent of par and are callable, in whole or in part, at par plus accrued and unpaid interest at any time on or after September 10, 2020. Interest is payable quarterly in March, June, September and December. The interest rate applicable to the notes 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 1.750 percent to 5.500 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 | 6 Months Ended |
Jun. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Revenue Disaggregation of Revenue The following tables represent a disaggregation of revenue for each reportable segment for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, 2021 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 91 $ 487 $ 578 Service revenue - related parties 901 6 907 Service revenue - product related — 76 76 Product sales 1 303 304 Product sales - related parties 3 28 31 Total revenues from contracts with customers $ 996 $ 900 1,896 Non-ASC 606 revenue (1) 499 Total revenues and other income $ 2,395 Three Months Ended June 30, 2020 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 77 $ 486 $ 563 Service revenue - related parties 854 3 857 Service revenue - product related — 22 22 Product sales 17 103 120 Product sales - related parties 4 26 30 Total revenues from contracts with customers $ 952 $ 640 1,592 Non-ASC 606 revenue (1) 489 Total revenues and other income $ 2,081 Six Months Ended June 30, 2021 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 175 $ 992 $ 1,167 Service revenue - related parties 1,770 9 1,779 Service revenue - product related — 153 153 Product sales 2 584 586 Product sales - related parties 6 67 73 Total revenues from contracts with customers $ 1,953 $ 1,805 3,758 Non-ASC 606 revenue (1) 976 Total revenues and other income $ 4,734 Six Months Ended June 30, 2020 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 161 $ 1,014 $ 1,175 Service revenue - related parties 1,774 11 1,785 Service revenue - product related — 61 61 Product sales 32 257 289 Product sales - related parties 8 55 63 Total revenues from contracts with customers $ 1,975 $ 1,398 3,373 Non-ASC 606 loss (1) (300) Total revenues and other income $ 3,073 (1) Non-ASC 606 Revenue includes rental income, sales-type lease revenue, income/(loss) from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. Contract Balances Contract assets typically relate to aid in construction agreements where the revenue recognized and MPLX’s rights to consideration for work completed exceeds the amount billed to the customer. Contract assets are included in “Other current assets” and “Other noncurrent 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. The sales and related “Receivable, net” 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 six-month periods ended June 30, 2021 and 2020: (In millions) Balance at December 31, 2020 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at Contract assets $ 40 $ (25) $ 1 $ 16 Long-term contract assets 2 — — 2 Deferred revenue 37 24 (17) 44 Deferred revenue - related parties 91 37 (50) 78 Long-term deferred revenue 119 9 — 128 Long-term deferred revenue - related parties 48 (8) — 40 Long-term contract liability $ 6 $ — $ — $ 6 (In millions) Balance at December 31, 2019 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at Contract assets $ 39 $ (20) $ (1) $ 18 Deferred revenue 23 8 (5) 26 Deferred revenue - related parties 53 48 (29) 72 Long-term deferred revenue 90 11 — 101 Long-term deferred revenue - related parties $ 55 $ (2) $ — $ 53 (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. Remaining Performance Obligations The table below includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. As of June 30, 2021, the amounts allocated to contract assets and contract liabilities on the Consolidated Balance Sheets are $289 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 23 years. Further, MPLX does not disclose variable consideration due to volume variability in the table below. (In millions) 2021 $ 933 2022 1,767 2023 1,615 2024 1,491 2025 and thereafter 4,427 Total revenue on remaining performance obligations (1),(2),(3) $ 10,233 (1) All fixed consideration from contracts with customers is included in the amounts presented above. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded. (2) Arrangements deemed implicit leases are included in “Rental income” and are excluded from this table. (3) Only minimum volume commitments that are deemed fixed are included in the table above. MPLX has various minimum volume commitments in processing arrangements that vary based on the actual Btu content of the gas received. These amounts are deemed variable consideration and are excluded from the table above. We do not disclose information on the future performance obligations for any contract with an original expected duration of one year or less. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Jun. 30, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information [Text Block] | Supplemental Cash Flow Information Six Months Ended June 30, (In millions) 2021 2020 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 414 $ 423 Income taxes paid 1 1 Non-cash investing and financing activities: Net transfers of property, plant and equipment (to)/from materials and supplies inventories $ — $ (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: Six Months Ended June 30, (In millions) 2021 2020 Decrease in capital accruals $ (34) $ (172) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2021 | |
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, 2020 through June 30, 2021. (In millions) Pension Other Total Balance at December 31, 2020 (1) $ (13) $ (2) $ (15) Other comprehensive loss - remeasurements (2) (2) — (2) Balance at June 30, 2021 (1) $ (15) $ (2) $ (17) The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2019 through June 30, 2020. (In millions) Pension Other Total Balance at December 31, 2019 (1) $ (14) $ (1) $ (15) Other comprehensive loss - remeasurements (2) — (1) (1) Balance at June 30, 2020 (1) $ (14) $ (2) $ (16) (1) These components of “Accumulated other comprehensive loss” are included in the computation of net periodic benefit cost by LOOP and Explorer and are therefore included on the Consolidated Statements of Income under the caption “Income/(loss) from equity method investments.” |
Equity-Based Compensation Plan
Equity-Based Compensation Plan | 6 Months Ended |
Jun. 30, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement [Text Block] | Equity-Based Compensation Phantom Units The following is a summary of phantom unit award activity of MPLX LP common units for the six months ended June 30, 2021: Number Weighted Outstanding at December 31, 2020 644,023 $ 28.65 Granted 335,904 24.97 Settled (201,400) 30.30 Forfeited (1,330) 33.19 Outstanding at June 30, 2021 777,197 $ 26.63 Performance Units The following is a summary of the activity for performance unit awards to be settled in MPLX LP common units for the six months ended June 30, 2021: Number of Outstanding at December 31, 2020 3,092,286 Granted 375,730 Settled (1,347,177) Forfeited (1,761) Outstanding at June 30, 2021 2,119,078 |
Leases Leases (Notes)
Leases Leases (Notes) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Text Block [Abstract] | |
Leases of Lessor Disclosure [Text Block] | LeasesDuring the second quarter of 2021 and during the first quarter of 2020, reimbursements for projects and changes to minimum volume commitments at certain L&S locations were agreed to between MPLX and MPC. These reimbursements and minimum volume commitments 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 ASC 842. As a result of the reassessment, certain leases were reclassified from an operating lease to a sales-type lease. Accordingly, the underlying assets previously shown on the Consolidated Balance Sheets associated with the sales-type leases 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 during the respective periods. 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 impacted storage services agreements are related to a common control transaction. During the second quarter of 2021, MPLX derecognized approximately $421 million of property, plant and equipment, recorded a lease receivable of approximately $519 million, recorded an unguaranteed residual asset of approximately $14 million with the difference recorded as a deemed “Contribution from MPC” of $112 million. During the first quarter of 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 with the difference recorded as a deemed “Contribution from MPC” of $209 million. Lease revenues included on the Consolidated Statements of Income were as follows: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1) $ 144 $ 68 $ 195 $ 66 Sales-type leases: Profit/(loss) recognized at the commencement date — — — N/A Interest income (Sales-type lease revenue- fixed minimum) 135 — 38 N/A Interest income (Revenue from variable lease payments) $ 1 $ — $ — N/A Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1) $ 346 $ 136 $ 381 $ 129 Sales-type leases: Profit/(loss) recognized at the commencement date — — — N/A Interest income (Sales-type lease revenue- fixed minimum) 172 — 76 N/A Interest income (Revenue from variable lease payments) $ 1 $ — $ — N/A (1) These amounts are presented net of executory costs. See Note 5 for additional information on where related party lease assets are recorded in the Consolidated Balance Sheets. Third party lease assets are less than $1 million as of June 30, 2021 and are included within the “Receivables, net” and “Other noncurrent assets” captions within the Consolidated Balance Sheets. The following is a schedule of future payments on the sales-type leases as of June 30, 2021: (In millions) Related Party 2021 $ 271 2022 543 2023 544 2024 537 2025 525 2026 and thereafter 1,017 Total minimum future rentals 3,437 Less: present value discount 2,520 Lease receivable $ 917 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and ContingenciesMPLX 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 a liability, MPLX is unable to estimate a range of possible loss 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 June 30, 2021 and December 31, 2020, accrued liabilities for remediation totaled $24 million and $17 million, respectively. It is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties, if any, that may be imposed. At June 30, 2021 and December 31, 2020, 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 other lawsuits and proceedings will not, individually or collectively, have a material adverse effect on its consolidated financial position, results of operations or cash flows. Guarantees – Over the years, MPLX has sold various assets in the normal course of its business. Certain of the related agreements contain performance and general guarantees, including guarantees regarding inaccuracies in representations, warranties, covenants and agreements, and environmental and general indemnifications that require MPLX to perform upon the occurrence of a triggering event or condition. These guarantees and indemnifications are part of the normal course of selling assets. MPLX is typically not able to calculate the maximum potential amount of future payments that could be made under such contractual provisions because of the variability inherent in the guarantees and indemnities. Most often, the nature of the guarantees and indemnities is such that there is no appropriate method for quantifying the exposure because the underlying triggering event has little or no past experience upon which a reasonable prediction of the outcome can be based. In connection with our 9.19 percent indirect interest in a joint venture (“Dakota Access”) that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system or DAPL, we have entered into a Contingent Equity Contribution Agreement whereby MPLX LP, along with the other joint venture owners in the Bakken Pipeline system, has 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 (the “D.D.C.”) ordered the U.S. Army Corps of Engineers (“Army Corps”), which granted permits and an easement for the Bakken Pipeline system, to conduct a full environmental impact statement (“EIS”), and further requested briefing on whether an easement necessary for the operation of the Bakken Pipeline system should be vacated while the EIS is being prepared. On July 6, 2020, the D.D.C. ordered vacatur of the easement to cross Lake Oahe during the pendency of an EIS and further ordered a shut down of the pipeline by August 5, 2020. The D.D.C. denied a motion to stay that order. Dakota Access and the Army Corps appealed the D.D.C.’s orders to the U.S. Court of Appeals for the District of Columbia Circuit (the “Court of Appeals”). On July 14, 2020, the Court of Appeals issued an administrative stay while the court considered Dakota Access and the Army Corps’ emergency motion for stay pending appeal. On August 5, 2020, the Court of Appeals stayed the D.D.C.’s injunction that required the pipeline be shutdown and emptied of oil by August 5, 2020. The Court of Appeals denied a stay of the D.D.C.’s March order, which required the EIS, and further denied a stay of the D.D.C.’s July order, which vacated the easement. On January 26, 2021, the Court of Appeals upheld the D.D.C.’s order vacating the easement while the Army Corps prepares the EIS. The Court of Appeals reversed the D.D.C.’s order to the extent it directed that the pipeline be shutdown and emptied of oil. On May 21, 2021, the D.D.C. denied a renewed request for an injunction. On June 22, 2021, the D.D.C. issued an order dismissing without prejudice the tribes’ claims against the Dakota Access Pipeline. The judge noted that the plaintiffs may move to reopen the case in the event of a violation of the court’s prior orders. The pipeline remains operational. If the pipeline is temporarily shut down pending completion of the EIS, MPLX would have to contribute its 9.19 percent pro rata share of funds required to pay interest accruing on the notes and any portion of the principal that matures while the pipeline is shutdown. MPLX also expects to contribute 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 vacatur of the easement permit 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. As of June 30, 2021, our maximum potential undiscounted payments under the Contingent Equity Contribution Agreement were approximately $230 million. Other Legal Proceedings – In early July 2020, Tesoro High Plains Pipeline Company, LLC (“THPP”), a subsidiary of MPLX, received a Notification of Trespass Determination from the Bureau of Indian Affairs (“BIA”) relating to a portion of the Tesoro High Plains Pipeline that crosses the Fort Berthold Reservation in North Dakota. The notification covered the rights of way for 23 tracts of land and demanded the immediate cessation of pipeline operations. The notification also assessed trespass damages of approximately $187 million. THPP appealed this determination, which triggered an automatic stay of the requested pipeline shutdown and payment. On October 29, 2020, the Assistant Secretary - Indian Affairs issued an order vacating the BIA’s trespass order and requiring the Regional Director for the BIA Great Plains Region to issue a new decision on or before December 15 covering all 34 tracts at issue. On December 15, 2020, the Regional Director of the BIA issued a new trespass notice to THPP consistent with the Assistant Secretary - Indian Affairs order vacating the prior trespass order. The new order found that THPP was in trespass and assessed trespass damages of approximately $4 million (including interest), which has been paid. The order also required THPP to immediately cease and desist use of the portion of the pipeline that crosses the property at issue. THPP has complied with the Regional Director’s December 15, 2020 notice. On February 12, 2021, landowners filed suit in the U.S. District Court for the District of North Dakota (the “District of North Dakota”) against THPP, the Department of the Interior, the Assistant Secretary - Indian Affairs, the Interior Board of Indian Appeals and the BIA, requesting, among other things, that decisions by the Assistant Secretary - Indian Affairs and the Interior Board of Indian Appeals be vacated as to the award of damages to plaintiffs. In March 2021, THPP received a copy of an order purporting to vacate all orders related to THPP’s alleged trespass issued by the BIA between July 2, 2020 and January 14, 2021. The order directs the Regional Director of the BIA to reconsider the issue of THPP’s alleged trespass and issue a new order, if necessary, after all interested parties have had an opportunity to be heard. Subsequently, landowners voluntarily dismissed the suit filed in the District of North Dakota. On April 23, 2021, THPP filed a lawsuit in the District of North Dakota against the United States of America, the U.S. Department of the Interior and the BIA challenging the March order purporting to vacate all previous orders related to THPP’s alleged trespass. We continue to work towards a settlement of this matter with holders of the property rights at issue. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent EventsOn August 4, 2021, MPLX announced the intent to provide notice of the redemption of all of the $1 billion outstanding aggregate principal amount of MPLX's LIBOR plus 1.1 percent per annum floating rate senior notes due September 9, 2022. The notes are expected to be redeemed on September 3, 2021, at a price equal to 100 percent of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date. MPLX expects to fund the redemption amount with a combination of cash on hand and borrowings under the MPLX Credit Agreement or the MPC Loan Agreement. |
Description of the Business a_2
Description of the Business and Basis of Presentation Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
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 31, 2020, MPLX completed the exchange of Western Refining Wholesale, LLC (“WRW”) to Western Refining Southwest, Inc. (now known as Western Refining Southwest LLC) (“WRSW”), a wholly owned subsidiary of MPC, in exchange for the redemption of 18,582,088 MPLX common units held by WRSW (the “Wholesale Exchange”). See Note 3 for additional information regarding the Wholesale Exchange. These financial statements include the results of WRSW through July 31, 2020. Impairments – During the first half of 2021, we continued to see improvements in the environment in which our business operates as COVID-19 impacts continue to subside. The increased availability of vaccinations and easing of COVID-19 restrictions has been followed by an increase in economic activity, however, we are unable to predict the potential effects a resurgence of COVID-19 may have on our financial position and results. In the second quarter of 2021, we recognized impairment expense of $42 million within our G&P segment related to our continued emphasis on portfolio optimization with the anticipated divestiture of several non-core assets and the closure of other non-core assets. During the first quarter of 2020, the overall deterioration in the economy and the environment in which MPLX and its customers operate, as well as a sustained decrease in unit price, were considered triggering events at that time resulting in impairments of the carrying value of certain assets. 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 refined and updated production forecasts in response to the environment at that time, which impacted their 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 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, 2020. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full year. MPLX’s consolidated financial statements include all majority-owned and controlled subsidiaries. For non-wholly owned consolidated subsidiaries, the interests owned by third parties have been recorded as “Noncontrolling interests” on the accompanying Consolidated Balance Sheets. Intercompany investments, accounts and transactions have been eliminated. MPLX’s investments in which MPLX exercises significant influence but does not control and does not have a controlling financial interest are accounted for using the equity method. MPLX’s investments in 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. |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | 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. |
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. |
Nature of Operations | 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. |
Net Income Per Limited Partne_2
Net Income Per Limited Partner Unit Accounting Policy (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
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. |
Investments and Noncontrollin_2
Investments and Noncontrolling Interests (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments [Table Text Block] | The following table presents MPLX’s equity method investments at the dates indicated: Ownership as of Carrying value at June 30, June 30, December 31, (In millions, except ownership percentages) 2021 2021 2020 L&S MarEn Bakken Company LLC (1) 25% $ 460 $ 465 Illinois Extension Pipeline Company, L.L.C. 35% 257 254 LOOP LLC 41% 264 252 Andeavor Logistics Rio Pipeline LLC (2) 67% 191 194 Minnesota Pipe Line Company, LLC 17% 185 188 Whistler Pipeline LLC (2) 38% 181 185 Explorer Pipeline Company 25% 65 72 W2W Holdings LLC (2)(3) 50% 70 72 Other (2) 109 103 Total L&S 1,782 1,785 G&P MarkWest Utica EMG, L.L.C. (2) 57% 690 698 Sherwood Midstream LLC (2) 50% 550 557 MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. (2) 67% 327 307 MarkWest Torñado GP, L.L.C. (2) 60% 213 188 Rendezvous Gas Services, L.L.C. (2) 78% 153 159 Sherwood Midstream Holdings LLC (2) 51% 141 148 Centrahoma Processing LLC 40% 131 145 Other (2) 46 49 Total G&P 2,251 2,251 Total $ 4,033 $ 4,036 (1) The investment in MarEn Bakken Company LLC includes our 9.19 percent indirect interest in a joint venture (“Dakota Access”) that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system or DAPL. (2) Investments deemed to be VIEs. Some investments included within “Other” have also been deemed to be VIEs. (3) Through our ownership interest in W2W Holdings LLC, we have a 15 percent equity interest Wink to Webster Pipeline LLC. |
Summarized Financial Information For Equity Method Investees Table [Table Text Block] | Summarized financial information for MPLX’s equity method investments for the six months ended June 30, 2021 and 2020 is as follows: Six Months Ended June 30, 2021 (In millions) VIEs Non-VIEs Total Revenues and other income $ 336 $ 607 $ 943 Costs and expenses 217 284 501 Income from operations 119 323 442 Net income 105 283 388 Income from equity method investments (1) $ 73 $ 63 $ 136 (1) Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. Six Months Ended June 30, 2020 (In millions) VIEs Non-VIEs Total Revenues and other income $ (43) $ 640 $ 597 Costs and expenses 202 274 476 (Loss)/income from operations (245) 366 121 Net (loss)/income (283) 332 49 (Loss)/income from equity method investments (1) $ (1,178) $ 83 $ (1,095) (1) Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. Summarized balance sheet information for MPLX’s equity method investments as of June 30, 2021 and December 31, 2020 is as follows: June 30, 2021 (In millions) VIEs Non-VIEs Total Current assets $ 355 $ 464 $ 819 Noncurrent assets 7,401 4,909 12,310 Current liabilities 183 281 464 Noncurrent liabilities $ 2,379 $ 862 $ 3,241 December 31, 2020 (In millions) VIEs Non-VIEs Total Current assets $ 530 $ 318 $ 848 Noncurrent assets 6,889 4,997 11,886 Current liabilities 323 187 510 Noncurrent liabilities $ 1,904 $ 830 $ 2,734 |
Related Party Agreements and _2
Related Party Agreements and Transactions (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | Activity on the MPC Loan Agreement was as follows: (In millions) Six Months Ended June 30, 2021 Year Ended December 31, 2020 Borrowings $ 4,435 $ 6,264 Average interest rate of borrowings 1.354 % 2.278 % Repayments $ 3,942 $ 6,858 Outstanding balance at end of period (1) $ 493 $ — (1) Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. |
Schedule of Entity Wide Information Sales to Related Parties [Table Text Block] | Revenue received from related parties included on the Consolidated Statements of Income was as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Service revenues - related parties MPC $ 907 $ 857 $ 1,778 $ 1,784 Other — — 1 1 Total Service revenue - related parties 907 857 1,779 1,785 Rental income - related parties MPC 168 237 410 471 Product sales - related parties (1) MPC 31 30 73 63 Sales-type lease revenue - related parties MPC 136 38 173 76 Other income - related parties MPC 11 10 23 20 Other 16 15 32 31 Total Other income - related parties $ 27 $ 25 $ 55 $ 51 (1) There were additional product sales to MPC that net to zero within the consolidated financial statements as the transactions are recorded net due to the terms of the agreements under which such product was sold. For the three and six months ended June 30, 2021, these sales totaled $177 million and $345 million, respectively. For the three and six months ended June 30, 2020, these sales totaled $52 million and $225 million, respectively. |
Schedule Of Entity Wide Information Allocated Related Party Employee Benefit Costs By Income Statement Line [Table Text Block] | Expenses incurred from MPC under the omnibus and employee services agreements as well as other purchases from MPC included on the Consolidated Statements of Income are as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Rental cost of sales - related parties MPC $ 23 $ 41 $ 62 $ 87 Purchases - related parties MPC 293 276 587 547 Other 4 4 8 9 Total Purchases - related parties 297 280 595 556 General and administrative expenses MPC $ 63 $ 68 $ 120 $ 132 |
Schedule of Related Party Transactions [Table Text Block] | (In millions) June 30, 2021 December 31, 2020 Current assets - related parties Receivables - MPC $ 519 $ 615 Receivables - Other 8 27 Prepaid - MPC 12 4 Other - MPC 2 1 Lease Receivables - MPC 73 30 Total 614 677 Noncurrent assets - related parties Long-term receivables - MPC 32 32 Right of use assets - MPC 230 231 Long-term lease receivables - MPC 844 386 Unguaranteed residual asset - MPC 38 23 Total 1,144 672 Current liabilities - related parties Payables - MPC 689 215 Payables - Other 31 43 Operating lease liabilities - MPC 1 1 Deferred revenue - Minimum volume deficiencies - MPC 51 66 Deferred revenue - Project reimbursements - MPC 39 30 Deferred revenue - Project reimbursements - Other 1 1 Total 812 356 Long-term liabilities - related parties Long-term operating lease liabilities - MPC 229 229 Long-term deferred revenue - Project reimbursements - MPC 70 47 Long-term deferred revenue - Project reimbursements - Other 7 7 Total $ 306 $ 283 |
Net Income Per Limited Partne_3
Net Income Per Limited Partner Unit (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Distributions By Partner By Class [Table Text Block] | During the three and six months ended June 30, 2021 and 2020, MPLX had participating securities consisting of common units, certain equity-based compensation awards, Series A preferred units and Series B preferred units and had dilutive potential common units consisting of certain equity-based compensation awards. Potential common units omitted from the diluted earnings per unit calculation for the three and six months ended June 30, 2021 and 2020 were less than 1 million. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Net income/(loss) attributable to MPLX LP $ 706 $ 648 $ 1,445 $ (2,076) Less: Distributions declared on Series A preferred units (1) 21 21 41 41 Distributions declared on Series B preferred units (1) 10 10 21 21 Limited partners’ distributions declared on MPLX common units (including common units of general partner) (1) 705 715 1,412 1,443 Undistributed net gain/(loss) attributable to MPLX LP $ (30) $ (98) $ (29) $ (3,581) (1) See Note 7 for distribution information. |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, 2021 (In millions, except per unit data) Limited Partners’ 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 $ 705 $ 21 $ 10 $ 736 Undistributed net loss attributable to MPLX LP (30) — — (30) Net income attributable to MPLX LP (1) $ 675 $ 21 $ 10 $ 706 Weighted average units outstanding: Basic 1,029 Diluted 1,029 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.66 Diluted $ 0.66 (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 June 30, 2020 (In millions, except per unit data) Limited Partners’ 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 $ 715 $ 21 $ 10 $ 746 Undistributed net loss attributable to MPLX LP (98) — — (98) Net income attributable to MPLX LP (1) $ 617 $ 21 $ 10 $ 648 Weighted average units outstanding: Basic 1,059 Diluted 1,059 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.58 Diluted $ 0.58 (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. Six Months Ended June 30, 2021 (In millions, except per unit data) Limited Partners’ Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 1,412 $ 41 $ 21 $ 1,474 Undistributed net loss attributable to MPLX LP (29) — — (29) Net income attributable to MPLX LP (1) $ 1,383 $ 41 $ 21 $ 1,445 Weighted average units outstanding: Basic 1,033 Diluted 1,033 Net income attributable to MPLX LP per limited partner unit: Basic $ 1.34 Diluted $ 1.34 (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. Six Months Ended June 30, 2020 (In millions, except per unit data) Limited Partners’ Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 1,443 $ 41 $ 21 $ 1,505 Undistributed net loss attributable to MPLX LP (3,581) — — (3,581) Net (loss)/income attributable to MPLX LP (1) $ (2,138) $ 41 $ 21 $ (2,076) Weighted average units outstanding: Basic 1,059 Diluted 1,059 Net income attributable to MPLX LP per limited partner unit: Basic $ (2.02) Diluted $ (2.02) (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) | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Schedule of Stockholders Equity [Table Text Block] | The changes in the number of common units outstanding during the six months ended June 30, 2021 are summarized below: (In units) Common Balance at December 31, 2020 1,038,777,978 Unit-based compensation awards 183,111 Units redeemed in unit repurchase program (11,929,998) Balance at June 30, 2021 1,027,031,091 Unit Repurchase Program On November 2, 2020, MPLX announced the board authorization of a unit repurchase program for the repurchase of up to $1 billion of MPLX’s outstanding common units held by the public. MPLX may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, tender offers, accelerated unit repurchases or open market solicitations for units, some of which may be effected through Rule 10b5-1 plans. The timing and amount of repurchases will depend upon several factors, including market and business conditions, and repurchases may be initiated, suspended or discontinued at any time. The repurchase authorization has no expiration date. During the six months ended June 30, 2021, 11,929,998 public common units were repurchased at an average cost per unit of $26.02. Total cash paid for units repurchased during 2021 was $310 million with $657 million remaining available under the authorization for future repurchases as of June 30, 2021. As of June 30, 2021, we had agreements to acquire 126,293 additional common units for $4 million, which settled in July 2021. Wholesale Exchange In connection with the Wholesale Exchange as discussed in Note 3, 18,582,088 units were redeemed by MPC in exchange for all of the outstanding membership interests in WRW. These units were cancelled by MPLX immediately following the transaction. Series B Preferred Units MPLX has outstanding 600,000 units of 6.875 percent Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests of MPLX with a price to the public of $1,000 per unit (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. Series B preferred unitholders are entitled to receive a fixed distribution of $68.75 per unit, per annum, 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, in each case assuming a distribution is declared by the Board of Directors. The changes in the Series B preferred unit balance from December 31, 2020 through June 30, 2021 are summarized below. Series B preferred units are included in the Consolidated Balance Sheets and Consolidated Statements of Equity within “Series B preferred units”. (In millions) Series B Preferred Units Balance at December 31, 2020 $ 611 Net income allocated 21 Distributions received by Series B preferred unitholders (21) Balance at June 30, 2021 $ 611 |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | The allocation of total quarterly cash distributions to limited and preferred unitholders is as follows for the three and six months ended June 30, 2021 and 2020. 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 June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Common and preferred unit distributions: Common unitholders, includes common units of general partner $ 705 $ 715 $ 1,412 $ 1,443 Series A preferred unit distributions 21 21 41 41 Series B preferred unit distributions 10 10 21 21 Total cash distributions declared $ 736 $ 746 $ 1,474 $ 1,505 |
Series A Preferred Units (Table
Series A Preferred Units (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Temporary Equity Disclosure [Abstract] | |
Rollforward of Redeemable Preferred Units | The changes in the redeemable preferred balance from December 31, 2020 through June 30, 2021 are summarized below: (In millions) Redeemable Series A Preferred Units Balance at December 31, 2020 $ 968 Net income allocated 41 Distributions received by Series A preferred unitholders (41) Balance at June 30, 2021 $ 968 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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 June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 L&S Service revenue $ 992 $ 931 $ 1,945 $ 1,935 Rental income 176 246 425 488 Product related revenue 4 21 8 40 Sales-type lease revenue - related parties 136 38 173 76 Income from equity method investments 35 40 71 90 Other income 16 14 31 27 Total segment revenues and other income (1) 1,359 1,290 2,653 2,656 Segment Adjusted EBITDA (2) 947 839 1,843 1,711 Capital expenditures 76 108 135 292 Investments in unconsolidated affiliates 13 74 22 128 G&P Service revenue 493 489 1,001 1,025 Rental income 91 89 183 177 Product related revenue 407 151 804 373 Income/(loss) from equity method investments 31 49 65 (1,185) Other income 14 13 28 27 Total segment revenues and other income (1) 1,036 791 2,081 417 Segment Adjusted EBITDA (2) 427 388 883 810 Capital expenditures 36 110 66 244 Investments in unconsolidated affiliates $ 36 $ 57 $ 62 $ 94 (1) Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $138 million and $267 million for the three and six months ended June 30, 2021, respectively, and $146 million and $304 million for the three and six months ended June 30, 2020, respectively. Third party revenues for the G&P segment were $988 million and $1,977 million for the three and six months ended June 30, 2021, respectively, and $748 million and $323 million for the three and six months ended June 30, 2020, respectively. (2) See below for the reconciliation from Segment Adjusted EBITDA to “Net income.” |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | (In millions) June 30, 2021 December 31, 2020 Segment assets Cash and cash equivalents $ 8 $ 15 L&S 20,869 20,938 G&P 14,896 15,461 Total assets $ 35,773 $ 36,414 |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] | The table below provides a reconciliation between “Net income/(loss)” and Segment Adjusted EBITDA. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Reconciliation to Net income/(loss): L&S Segment Adjusted EBITDA $ 947 $ 839 $ 1,843 $ 1,711 G&P Segment Adjusted EBITDA 427 388 883 810 Total reportable segments 1,374 1,227 2,726 2,521 Depreciation and amortization (1) (318) (321) (647) (646) Provision for income taxes — — (1) — Amortization of deferred financing costs (18) (15) (35) (29) Non-cash equity-based compensation (2) (3) (5) (8) Impairment expense (42) — (42) (2,165) Net interest and other financial costs (198) (208) (418) (424) Gain on extinguishment of debt — — 12 — Income/(loss) from equity method investments 66 89 136 (1,095) Distributions/adjustments related to equity method investments (121) (115) (242) (239) Unrealized derivative (losses)/gains (2) (36) (6) (39) 9 Other — (1) (2) (2) Adjusted EBITDA attributable to noncontrolling interests 10 8 20 17 Net income/(loss) $ 715 $ 655 $ 1,463 $ (2,061) (1) Depreciation and amortization attributable to L&S was $136 million and $283 million for the three and six months ended June 30, 2021, respectively, and $138 million and $276 million for the three and six months ended June 30, 2020, respectively. Depreciation and amortization attributable to G&P was $182 million and $364 million for the three and six months ended June 30, 2021, respectively, and $183 million and $370 million for the three and six months ended June 30, 2020, respectively. (2) MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories | Inventories consist of the following: (In millions) June 30, 2021 December 31, 2020 NGLs $ 5 $ 5 Line fill 18 13 Spare parts, materials and supplies 103 100 Total inventories $ 126 $ 118 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property, Plant and Equipment | Property, plant and equipment with associated accumulated depreciation is shown below: (In millions) June 30, 2021 December 31, 2020 L&S Pipelines $ 6,045 $ 6,026 Refining logistics 1,789 2,333 Terminals 1,652 1,643 Marine 965 965 Land, building and other 1,575 1,584 Construction-in-progress 217 262 Total L&S property, plant and equipment 12,243 12,813 G&P Gathering and transportation 7,574 7,547 Processing and fractionation 5,726 5,721 Land, building and other 511 507 Construction-in-progress 276 287 Total G&P property, plant and equipment 14,087 14,062 Total property, plant and equipment 26,330 26,875 Less accumulated depreciation 5,978 5,657 Property, plant and equipment, net $ 20,352 $ 21,218 |
Goodwill and Intangibles (Table
Goodwill and Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross intangible assets with accumulated amortization as of June 30, 2021 and December 31, 2020 is shown below: June 30, 2021 December 31, 2020 (In millions) Useful Lives Gross Accumulated Amortization (1) Net Gross Accumulated Amortization (2) Net L&S 6 - 8 years $ 283 $ (99) $ 184 $ 283 $ (81) $ 202 G&P 6 - 25 years 1,288 (576) 712 1,288 (531) 757 $ 1,571 $ (675) $ 896 $ 1,571 $ (612) $ 959 (1) Amortization expense attributable to the L&S and G&P segments for the six months ended June 30, 2021 was $18 million and $45 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 June 30, 2021 is as follows: (In millions) 2021 $ 64 2022 127 2023 127 2024 127 2025 113 Thereafter 338 Total $ 896 |
Goodwill and Intangibles Goodwi
Goodwill and Intangibles Goodwill and Intangibles (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Goodwill [Line Items] | |
Schedule of Goodwill [Table Text Block] | Changes in the carrying amount of goodwill were as follows: (In millions) L&S G&P Total Gross goodwill as of December 31, 2019 $ 7,722 $ 3,141 $ 10,863 Accumulated impairment losses — (1,327) (1,327) Balance as of December 31, 2019 7,722 1,814 9,536 Impairment losses — (1,814) (1,814) Wholesale Exchange (Note 3) (65) — (65) Balance as of December 31, 2020 7,657 — 7,657 Balance as of June 30, 2021 7,657 — 7,657 Gross goodwill as of June 30, 2021 7,657 3,141 10,798 Accumulated impairment losses — (3,141) (3,141) Balance as of June 30, 2021 $ 7,657 $ — $ 7,657 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents the financial instruments carried at fair value on a recurring basis as of June 30, 2021 and December 31, 2020 by fair value hierarchy level. MPLX has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. June 30, 2021 December 31, 2020 (In millions) Assets Liabilities Assets Liabilities Significant unobservable inputs (Level 3) Embedded derivatives in commodity contracts $ — $ (102) $ — $ (63) Total carrying value on Consolidated Balance Sheets $ — $ (102) $ — $ (63) |
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 $0.64 to $1.59 per gallon with a weighted average of $0.81 per gallon and (2) the probability of renewal of 100 percent for the first five five |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table is a reconciliation of the net beginning and ending balances recorded for net assets and liabilities classified as Level 3 in the fair value hierarchy. Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 (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 $ — $ (66) $ — $ (45) Total (losses)/gains (realized and unrealized) included in earnings (1) — (39) — (7) Settlements — 3 — 1 Fair value at end of period — (102) — (51) The amount of total (losses)/gains for the period included in earnings attributable to the change in unrealized (losses)/gains relating to liabilities still held at end of period $ — $ (39) $ — $ (6) Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 (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 $ — $ (63) $ — $ (60) Total (losses)/gains (realized and unrealized) included in earnings (1) — (45) — 7 Settlements — 6 — 2 Fair value at end of period — (102) — (51) The amount of total (losses)/gains for the period included in earnings attributable to the change in unrealized (losses)/gains relating to liabilities still held at end of period $ — $ (41) $ — $ 7 (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 our debt, excluding finance leases: June 30, 2021 December 31, 2020 (In millions) Fair Value Carrying Value Fair Value Carrying Value Long-term debt (including amounts due within one year) $ 21,838 $ 19,335 $ 22,951 $ 20,244 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | As of June 30, 2021, MPLX had no outstanding commodity contracts beyond the embedded derivative discussed below. |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The impact of MPLX’s derivative instruments on its Consolidated Balance Sheets is summarized below: (In millions) June 30, 2021 December 31, 2020 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 $ — $ (14) $ — $ (7) Other noncurrent assets / Deferred credits and other liabilities — (88) — (56) Total $ — $ (102) $ — $ (63) (1) Includes embedded derivatives in commodity contracts as discussed above. |
Derivative Instruments, Gain (Loss) [Table Text Block] | The impact of MPLX’s derivative contracts not designated as hedging instruments and the location of gains and losses recognized on the Consolidated Statements of Income is summarized below: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2021 2020 2021 2020 Purchased product costs Realized (loss)/gain $ (3) $ (1) $ (6) $ (2) Unrealized (loss)/gain (36) (6) (39) 9 Purchased product costs derivative (loss)/gain (39) (7) (45) 7 Total derivative (loss)/gain $ (39) $ (7) $ (45) $ 7 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Debt [Table Text Block] | MPLX’s outstanding borrowings consist of the following: (In millions) June 30, 2021 December 31, 2020 MPLX LP: Bank revolving credit facility $ — $ 175 Floating rate senior notes 1,000 1,000 Fixed rate senior notes 18,532 19,240 Consolidated subsidiaries: MarkWest 23 23 ANDX 45 87 Financing lease obligations (1) 9 11 Total 19,609 20,536 Unamortized debt issuance costs (109) (116) Unamortized discount/premium (265) (281) Amounts due within one year (1) (764) Total long-term debt due after one year $ 19,234 $ 19,375 (1) See Note 20 for lease information. |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following tables represent a disaggregation of revenue for each reportable segment for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, 2021 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 91 $ 487 $ 578 Service revenue - related parties 901 6 907 Service revenue - product related — 76 76 Product sales 1 303 304 Product sales - related parties 3 28 31 Total revenues from contracts with customers $ 996 $ 900 1,896 Non-ASC 606 revenue (1) 499 Total revenues and other income $ 2,395 Three Months Ended June 30, 2020 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 77 $ 486 $ 563 Service revenue - related parties 854 3 857 Service revenue - product related — 22 22 Product sales 17 103 120 Product sales - related parties 4 26 30 Total revenues from contracts with customers $ 952 $ 640 1,592 Non-ASC 606 revenue (1) 489 Total revenues and other income $ 2,081 Six Months Ended June 30, 2021 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 175 $ 992 $ 1,167 Service revenue - related parties 1,770 9 1,779 Service revenue - product related — 153 153 Product sales 2 584 586 Product sales - related parties 6 67 73 Total revenues from contracts with customers $ 1,953 $ 1,805 3,758 Non-ASC 606 revenue (1) 976 Total revenues and other income $ 4,734 Six Months Ended June 30, 2020 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 161 $ 1,014 $ 1,175 Service revenue - related parties 1,774 11 1,785 Service revenue - product related — 61 61 Product sales 32 257 289 Product sales - related parties 8 55 63 Total revenues from contracts with customers $ 1,975 $ 1,398 3,373 Non-ASC 606 loss (1) (300) Total revenues and other income $ 3,073 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | The tables below reflect the changes in our contract balances for the six-month periods ended June 30, 2021 and 2020: (In millions) Balance at December 31, 2020 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at Contract assets $ 40 $ (25) $ 1 $ 16 Long-term contract assets 2 — — 2 Deferred revenue 37 24 (17) 44 Deferred revenue - related parties 91 37 (50) 78 Long-term deferred revenue 119 9 — 128 Long-term deferred revenue - related parties 48 (8) — 40 Long-term contract liability $ 6 $ — $ — $ 6 (In millions) Balance at December 31, 2019 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at Contract assets $ 39 $ (20) $ (1) $ 18 Deferred revenue 23 8 (5) 26 Deferred revenue - related parties 53 48 (29) 72 Long-term deferred revenue 90 11 — 101 Long-term deferred revenue - related parties $ 55 $ (2) $ — $ 53 (1) Balance represents ASC 606 portion of each respective line item. |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | As of June 30, 2021, the amounts allocated to contract assets and contract liabilities on the Consolidated Balance Sheets are $289 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 23 years. Further, MPLX does not disclose variable consideration due to volume variability in the table below. (In millions) 2021 $ 933 2022 1,767 2023 1,615 2024 1,491 2025 and thereafter 4,427 Total revenue on remaining performance obligations (1),(2),(3) $ 10,233 (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. |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Supplemental Cash Flow Information [Table Text Block] | Six Months Ended June 30, (In millions) 2021 2020 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 414 $ 423 Income taxes paid 1 1 Non-cash investing and financing activities: Net transfers of property, plant and equipment (to)/from materials and supplies inventories $ — $ (1) |
Summary of Reconciliation of Additions to Property, Plant and Equipment to Total Capital Expenditures [Table Text Block] | The Consolidated Statements of Cash Flows exclude changes to the Consolidated Balance Sheets that did not affect cash. The following is the change of additions to property, plant and equipment related to capital accruals: Six Months Ended June 30, (In millions) 2021 2020 Decrease in capital accruals $ (34) $ (172) |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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, 2020 through June 30, 2021. (In millions) Pension Other Total Balance at December 31, 2020 (1) $ (13) $ (2) $ (15) Other comprehensive loss - remeasurements (2) (2) — (2) Balance at June 30, 2021 (1) $ (15) $ (2) $ (17) The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2019 through June 30, 2020. (In millions) Pension Other Total Balance at December 31, 2019 (1) $ (14) $ (1) $ (15) Other comprehensive loss - remeasurements (2) — (1) (1) Balance at June 30, 2020 (1) $ (14) $ (2) $ (16) (1) These components of “Accumulated other comprehensive loss” are included in the computation of net periodic benefit cost by LOOP and Explorer and are therefore included on the Consolidated Statements of Income under the caption “Income/(loss) from equity method investments.” |
Equity-Based Compensation Plan
Equity-Based Compensation Plan (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Phantom Units | |
Equity Transactions And Share Based Compensation [Line Items] | |
Summary of Share-based Compensation, Restricted Stock Units Award Activity | The following is a summary of phantom unit award activity of MPLX LP common units for the six months ended June 30, 2021: Number Weighted Outstanding at December 31, 2020 644,023 $ 28.65 Granted 335,904 24.97 Settled (201,400) 30.30 Forfeited (1,330) 33.19 Outstanding at June 30, 2021 777,197 $ 26.63 |
Performance Shares [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Summary of Share-based Compensation, Restricted Stock Units Award Activity | Performance Units The following is a summary of the activity for performance unit awards to be settled in MPLX LP common units for the six months ended June 30, 2021: Number of Outstanding at December 31, 2020 3,092,286 Granted 375,730 Settled (1,347,177) Forfeited (1,761) Outstanding at June 30, 2021 2,119,078 |
Leases Lessor Disclosure (Table
Leases Lessor Disclosure (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
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 June 30, 2021 Three Months Ended June 30, 2020 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1) $ 144 $ 68 $ 195 $ 66 Sales-type leases: Profit/(loss) recognized at the commencement date — — — N/A Interest income (Sales-type lease revenue- fixed minimum) 135 — 38 N/A Interest income (Revenue from variable lease payments) $ 1 $ — $ — N/A Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1) $ 346 $ 136 $ 381 $ 129 Sales-type leases: Profit/(loss) recognized at the commencement date — — — N/A Interest income (Sales-type lease revenue- fixed minimum) 172 — 76 N/A Interest income (Revenue from variable lease payments) $ 1 $ — $ — N/A (1) These amounts are presented net of executory costs. See Note 5 for additional information on where related party lease assets are recorded in the Consolidated Balance Sheets. Third party lease assets are less than $1 million as of June 30, 2021 and are included within the “Receivables, net” and “Other noncurrent assets” captions within the Consolidated Balance Sheets. The following is a schedule of future payments on the sales-type leases as of June 30, 2021: (In millions) Related Party 2021 $ 271 2022 543 2023 544 2024 537 2025 525 2026 and thereafter 1,017 Total minimum future rentals 3,437 Less: present value discount 2,520 Lease receivable $ 917 |
Sales-type Lease, Lease Income [Table Text Block] | Lease revenues included on the Consolidated Statements of Income were as follows: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1) $ 144 $ 68 $ 195 $ 66 Sales-type leases: Profit/(loss) recognized at the commencement date — — — N/A Interest income (Sales-type lease revenue- fixed minimum) 135 — 38 N/A Interest income (Revenue from variable lease payments) $ 1 $ — $ — N/A Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1) $ 346 $ 136 $ 381 $ 129 Sales-type leases: Profit/(loss) recognized at the commencement date — — — N/A Interest income (Sales-type lease revenue- fixed minimum) 172 — 76 N/A Interest income (Revenue from variable lease payments) $ 1 $ — $ — N/A (1) These amounts are presented net of executory costs. See Note 5 for additional information on where related party lease assets are recorded in the Consolidated Balance Sheets. Third party lease assets are less than $1 million as of June 30, 2021 and are included within the “Receivables, net” and “Other noncurrent assets” captions within the Consolidated Balance Sheets. The following is a schedule of future payments on the sales-type leases as of June 30, 2021: (In millions) Related Party 2021 $ 271 2022 543 2023 544 2024 537 2025 525 2026 and thereafter 1,017 Total minimum future rentals 3,437 Less: present value discount 2,520 Lease receivable $ 917 |
Description of Business and Bas
Description of Business and Basis of Presentation - Additional Information (Detail) $ in Millions | Jul. 31, 2020shares | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($) |
Description Of Business And Basis Of Presentation [Line Items] | |||||||
Goodwill, Impairment Loss | $ 1,814 | ||||||
Equity Method Investment, Other than Temporary Impairment | $ 6 | $ 1,264 | $ 1,264 | $ 6 | |||
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 | ||||||
Goodwill and Intangible Asset Impairment | $ 42 | $ 0 | $ 42 | $ 2,165 | |||
G&P | |||||||
Description Of Business And Basis Of Presentation [Line Items] | |||||||
Goodwill, Impairment Loss | $ 1,814 | $ 1,814 | |||||
Western Refining Wholesale & Western Refining Product Transport [Member] | |||||||
Description Of Business And Basis Of Presentation [Line Items] | |||||||
Partners' Capital Account, Units, Redeemed | shares | 18,582,088 |
Javelina Sale (Details)
Javelina Sale (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Sale of Javelina Assets and Liabilities | |
Noncash or Part Noncash Divestitures [Line Items] | |
Gain (Loss) on Disposition of Assets | $ 0 |
Wholesale Exchange (Details)
Wholesale Exchange (Details) - USD ($) $ in Millions | Jul. 31, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 7,657 | $ 7,657 | $ 9,536 | |
Western Refining Wholesale & Western Refining Product Transport [Member] | ||||
Business Acquisition [Line Items] | ||||
Partners' Capital Account, Units, Redeemed | 18,582,088 | |||
Partner Capital, Units, contributed, fair value assigned | $ 340 | |||
Excess of Fair Value over Book Value | 250 | |||
Fair Value, Net Asset (Liability) | 90 | |||
Goodwill | $ 65 |
Investments and Noncontrollin_3
Investments and Noncontrolling Interests (Summary of Equity Method Investment Financial Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Revenues | $ 2,395 | $ 2,081 | $ 4,734 | $ 3,073 | |||||
Equity method investments | 4,033 | 4,033 | $ 4,036 | ||||||
Costs and Expenses | 1,464 | 1,203 | 2,829 | 4,681 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 715 | 655 | 1,463 | (2,061) | |||||
Income/(loss) from equity method investments(1) | [1] | 66 | 89 | 136 | [2] | (1,095) | [3] | ||
Assets, Current | 1,332 | 1,332 | 1,515 | ||||||
Liabilities, Current | 1,727 | 1,727 | 2,086 | ||||||
Equity Method Investment, Other than Temporary Impairment | $ 6 | 1,264 | $ 1,264 | $ 6 | |||||
MarEn Bakken Company LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 25.00% | 25.00% | |||||||
Illinois Extension | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 35.00% | 35.00% | |||||||
LOOP | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 41.00% | 41.00% | |||||||
Andeavor Logistics Rio Pipeline [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 67.00% | 67.00% | |||||||
Minnesota Pipe Line Company, LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 17.00% | 17.00% | |||||||
Whistler Pipeline LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 38.00% | 38.00% | |||||||
W2W Holdings LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 50.00% | 50.00% | |||||||
Explorer | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 25.00% | 25.00% | |||||||
MarkWest Utica EMG | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 57.00% | 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% | 50.00% | |||||||
MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 67.00% | 67.00% | |||||||
Rendezvous Gas Services, L.L.C. [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 78.00% | 78.00% | |||||||
Centrahoma Processing LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 40.00% | 40.00% | |||||||
MarkWest Tornado GP, L.L.C. | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 60.00% | 60.00% | |||||||
Indirect Ownership Interest [Member] | Bakken Pipeline System [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 9.19% | 9.19% | |||||||
Indirect Ownership Interest [Member] | Sherwood Midstream Holdings | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 24.55% | 24.55% | |||||||
Indirect Ownership Interest [Member] | Wink to Webster Pipeline LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 15.00% | 15.00% | |||||||
Direct Ownership Interest [Member] | Sherwood Midstream Holdings | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investment, ownership percentage | 51.00% | 51.00% | |||||||
G&P | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Difference between carrying amount and underlying equity | $ (56) | $ (56) | (57) | ||||||
Difference between carrying amount and underlying equity portion related to goodwill | 31 | 31 | 31 | ||||||
G&P | MarkWest Utica EMG | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 690 | 690 | 698 | |||||
G&P | Sherwood Midstream | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 550 | 550 | 557 | |||||
G&P | MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 327 | 327 | 307 | |||||
G&P | Rendezvous Gas Services, L.L.C. [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 153 | 153 | 159 | |||||
G&P | Sherwood Midstream Holdings | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 141 | 141 | 148 | |||||
G&P | Centrahoma Processing LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 131 | 131 | 145 | ||||||
G&P | Other VIEs and Non-VIEs [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 46 | 46 | 49 | |||||
G&P | MarkWest Tornado GP, L.L.C. | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 213 | 213 | 188 | |||||
L&S | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Difference between carrying amount and underlying equity | 332 | 332 | 331 | ||||||
Difference between carrying amount and underlying equity portion related to goodwill | 167 | 167 | 167 | ||||||
L&S | MarEn Bakken Company LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [5] | 460 | 460 | 465 | |||||
L&S | Illinois Extension | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 257 | 257 | 254 | ||||||
L&S | LOOP | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 264 | 264 | 252 | ||||||
L&S | Andeavor Logistics Rio Pipeline [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 191 | 191 | 194 | |||||
L&S | Minnesota Pipe Line Company, LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 185 | 185 | 188 | ||||||
L&S | Whistler Pipeline LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 181 | 181 | 185 | |||||
L&S | W2W Holdings LLC [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4],[6] | 70 | 70 | 72 | |||||
L&S | Explorer | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | 65 | 65 | 72 | ||||||
L&S | Other VIEs and Non-VIEs [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Equity method investments | [4] | 109 | 109 | 103 | |||||
Operating Segments | G&P | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Revenues | [7] | 1,036 | 791 | 2,081 | 417 | ||||
Equity method investments | 2,251 | 2,251 | 2,251 | ||||||
Income/(loss) from equity method investments(1) | 31 | 49 | 65 | (1,185) | |||||
Operating Segments | L&S | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Revenues | [7] | 1,359 | 1,290 | 2,653 | 2,656 | ||||
Equity method investments | 1,782 | 1,782 | 1,785 | ||||||
Income/(loss) from equity method investments(1) | 35 | $ 40 | 71 | 90 | |||||
Other VIEs and Non-VIEs [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Revenues | 943 | 597 | |||||||
Costs and Expenses | 501 | 476 | |||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 442 | 121 | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 388 | 49 | |||||||
Assets, Current | 819 | 819 | 848 | ||||||
Assets, Noncurrent | 12,310 | 12,310 | 11,886 | ||||||
Liabilities, Current | 464 | 464 | 510 | ||||||
Liabilities, Noncurrent | 3,241 | 3,241 | 2,734 | ||||||
Non-VIEs [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Revenues | 607 | 640 | |||||||
Costs and Expenses | 284 | 274 | |||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 323 | 366 | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 283 | 332 | |||||||
Income/(loss) from equity method investments(1) | 63 | [2] | 83 | [3] | |||||
Assets, Current | 464 | 464 | 318 | ||||||
Assets, Noncurrent | 4,909 | 4,909 | 4,997 | ||||||
Liabilities, Current | 281 | 281 | 187 | ||||||
Liabilities, Noncurrent | 862 | 862 | 830 | ||||||
Other VIEs [Member] | |||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||
Revenues | 336 | (43) | |||||||
Costs and Expenses | 217 | 202 | |||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 119 | (245) | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 105 | (283) | |||||||
Income/(loss) from equity method investments(1) | 73 | [2] | $ (1,178) | [3] | |||||
Assets, Current | 355 | 355 | 530 | ||||||
Assets, Noncurrent | 7,401 | 7,401 | 6,889 | ||||||
Liabilities, Current | 183 | 183 | 323 | ||||||
Liabilities, Noncurrent | $ 2,379 | $ 2,379 | $ 1,904 | ||||||
[1] | The three and six months ended June 30, 2021 includes $6 million of impairment expense. The six months ended June 30, 2020 includes $1,264 million of impairment expense. | ||||||||
[2] | Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. | ||||||||
[3] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. | ||||||||
[4] | Investments deemed to be VIEs. Some investments included within “Other” have also been deemed to be VIEs. | ||||||||
[5] | The investment in MarEn Bakken Company LLC includes our 9.19 percent indirect interest in a joint venture (“Dakota Access”) that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system or DAPL. | ||||||||
[6] | Through our ownership interest in W2W Holdings LLC, we have a 15 percent equity interest Wink to Webster Pipeline LLC. | ||||||||
[7] | Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $138 million and $267 million for the three and six months ended June 30, 2021, respectively, and $146 million and $304 million for the three and six months ended June 30, 2020, respectively. Third party revenues for the G&P segment were $988 million and $1,977 million for the three and six months ended June 30, 2021, respectively, and $748 million and $323 million for the three and six months ended June 30, 2020, respectively. |
Related Party Agreements and _3
Related Party Agreements and Transactions - Additional Information (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Marathon Petroleum Corporation [Member] | |
Related Party Transaction [Line Items] | |
Restructuring Charges | $ 37 |
Related Party Agreements and _4
Related Party Agreements and Transactions MPC Loan Agreement (Details) - Related Party Revolving Credit Agreement [Member] - MPC Investment [Member] - USD ($) $ in Millions | Jul. 31, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
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 | ||||
Related party debt - borrowings | $ 4,435 | $ 2,708 | $ 6,264 | ||
Line of Credit Facility, Interest Rate During Period | 1.354% | 2.278% | |||
Repayments of Lines of Credit | $ 3,942 | $ 3,302 | $ 6,858 | ||
Long-term Line of Credit | [1] | $ 493 | $ 0 | ||
[1] | Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. |
Related Party Disclosures (Deta
Related Party Disclosures (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Related Party Transaction [Line Items] | |||||
Operating Lease, Lease Income | $ 99 | $ 98 | $ 198 | $ 194 | |
Related Party Transaction, Other Revenues from Transactions with Related Party | 27 | 25 | 55 | 51 | |
Revenue from Related Parties | 15 | 4 | |||
Marathon Petroleum Corporation [Member] | |||||
Related Party Transaction [Line Items] | |||||
Operating Lease, Lease Income | 168 | 237 | 410 | 471 | |
Related Party Transaction, Other Revenues from Transactions with Related Party | 11 | 10 | 23 | 20 | |
Sales Revenue, Goods, Related Party, Net Zero | 177 | 52 | 345 | 225 | |
Sales-type Lease, Revenue | 136 | 38 | 173 | 76 | |
Marathon Petroleum Corporation [Member] | Construction-in-progress | |||||
Related Party Transaction [Line Items] | |||||
Property, Plant and Equipment, Additions | 15 | 15 | 27 | 51 | |
Other Affiliates [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related Party Transaction, Other Revenues from Transactions with Related Party | 16 | 15 | 32 | 31 | |
Product [Member] | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 31 | 30 | 73 | 63 | |
Product [Member] | Marathon Petroleum Corporation [Member] | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | [1] | 31 | 30 | 73 | 63 |
Service [Member] | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 907 | 857 | 1,779 | 1,785 | |
Service [Member] | Marathon Petroleum Corporation [Member] | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 907 | 857 | 1,778 | 1,784 | |
Service [Member] | Other Affiliates [Member] | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | $ 0 | $ 0 | $ 1 | $ 1 | |
[1] | There were additional product sales to MPC that net to zero within the consolidated financial statements as the transactions are recorded net due to the terms of the agreements under which such product was sold. For the three and six months ended June 30, 2021, these sales totaled $177 million and $345 million, respectively. For the three and six months ended June 30, 2020, these sales totaled $52 million and $225 million, respectively. |
Summary of Charges for Employee
Summary of Charges for Employee Services and Omnibus Agreements (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Purchases from Related Party | $ 297 | $ 280 | $ 595 | $ 556 |
General and Administrative Expense | 87 | 96 | 173 | 193 |
Marathon Petroleum Corporation [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Purchases from Related Party | 293 | 276 | 587 | 547 |
General and Administrative Expense | 63 | 68 | 120 | 132 |
Marathon Petroleum Corporation [Member] | Rental cost of sales - related parties | ||||
Related Party Transaction [Line Items] | ||||
Labor and Related Expense | 23 | 41 | 62 | 87 |
Other Affiliates [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Purchases from Related Party | 4 | 4 | 8 | 9 |
Construction-in-progress | Marathon Petroleum Corporation [Member] | ||||
Related Party Transaction [Line Items] | ||||
Property, Plant and Equipment, Additions | $ 15 | $ 15 | $ 27 | $ 51 |
Other Assets and Liabilities fr
Other Assets and Liabilities from Related Parties (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Related Party Transaction [Line Items] | ||
Other current assets | $ 46 | $ 65 |
Current Assets, Related Parties | 614 | 677 |
Due from Related Parties, Noncurrent | 1,144 | 672 |
Operating Lease, Right-of-Use Asset | 297 | 309 |
Due to Related Parties, Current | 812 | 356 |
Operating Lease, Liability, Current | 63 | 63 |
Operating Lease, Liability, Noncurrent | 232 | 244 |
Liabilities, Related Parties, Noncurrent | 306 | 283 |
Marathon Petroleum Corporation [Member] | ||
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | 519 | 615 |
Prepaid Insurance | 12 | 4 |
Other current assets | 2 | 1 |
Sales-type Lease, Interest Income | 73 | 30 |
Due from Related Parties, Noncurrent | 32 | 32 |
Operating Lease, Right-of-Use Asset | 230 | 231 |
Net Investment in Lease, Noncurrent | 844 | 386 |
Sales-type Lease, Unguaranteed Residual Asset | 38 | 23 |
Due to Related Parties, Current | 689 | 215 |
Operating Lease, Liability, Current | 1 | 1 |
Operating Lease, Liability, Noncurrent | 229 | 229 |
Other Affiliates [Member] | ||
Related Party Transaction [Line Items] | ||
Accounts Receivable, Related Parties, Current | 8 | 27 |
Due to Related Parties, Current | 31 | 43 |
Minimum Committed Volume Contracts [Member] | Marathon Petroleum Corporation [Member] | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 51 | 66 |
Reimbursable Projects [Member] | Marathon Petroleum Corporation [Member] | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 39 | 30 |
Deferred Revenue, Noncurrent, Related Parties | 70 | 47 |
Reimbursable Projects [Member] | Other Affiliates [Member] | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 1 | 1 |
Deferred Revenue, Noncurrent, Related Parties | $ 7 | $ 7 |
Net Income Per Limited Partne_4
Net Income Per Limited Partner Unit - Schedule of Distributions by Partner by Class (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |||||
Net Income Per Share [Line Items] | ||||||||
Potentially dilutive units | 1 | 1 | 1 | 1 | ||||
Net Income (Loss) Attributable to Parent | $ 706 | [1] | $ 648 | [1] | $ 1,445 | [1] | $ (2,076) | |
Distribution Made to Limited Partner, Cash Distributions Declared | 736 | 746 | 1,474 | 1,505 | ||||
Undistributed net income (loss) attributable to MPLX LP | (30) | (98) | (29) | (3,581) | ||||
Limited Partners Common Units [Member] | ||||||||
Net Income Per Share [Line Items] | ||||||||
Net Income (Loss) Attributable to Parent | 675 | [1] | 617 | [1] | 1,383 | [1] | (2,138) | |
Distribution Made to Limited Partner, Cash Distributions Declared | [2] | 705 | 715 | 1,412 | 1,443 | |||
Undistributed net income (loss) attributable to MPLX LP | (30) | (98) | (29) | (3,581) | ||||
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | ||||||||
Net Income Per Share [Line Items] | ||||||||
Net Income (Loss) Attributable to Parent | 21 | [1] | 21 | [1] | 41 | [1] | 41 | |
Distribution Made to Limited Partner, Cash Distributions Declared | [2] | 21 | 21 | 41 | 41 | |||
Undistributed net income (loss) attributable to MPLX LP | 0 | 0 | 0 | 0 | ||||
Series B Preferred Stock [Member] | Series A Preferred Stock [Member] | ||||||||
Net Income Per Share [Line Items] | ||||||||
Net Income (Loss) Attributable to Parent | 10 | [1] | 10 | [1] | 21 | [1] | 21 | |
Distribution Made to Limited Partner, Cash Distributions Declared | [2] | 10 | 10 | 21 | 21 | |||
Undistributed net income (loss) attributable to MPLX LP | $ 0 | $ 0 | $ 0 | $ 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] | See Note 7 for distribution information. |
Net Income Per Limited Partne_5
Net Income Per Limited Partner Unit - Basic and Diluted Earnings Per Unit (Details) - Limited Partners Common Units [Member] - $ / shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Weighted average units outstanding: | ||||
Common - basic (in shares) | 1,029 | 1,059 | 1,033 | 1,059 |
Common - diluted (in shares) | 1,029 | 1,059 | 1,033 | 1,059 |
Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax | $ 0.66 | $ 0.58 | $ 1.34 | $ (2.02) |
Common - diluted (in USD per unit) | $ 0.66 | $ 0.58 | $ 1.34 | $ (2.02) |
Equity - Changes in Partners Ca
Equity - Changes in Partners Capital, Unit Rollforward (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 16, 2021 | Jul. 27, 2021 | Jul. 02, 2021 | Apr. 27, 2021 | Jul. 31, 2020 | Jul. 28, 2020 | Apr. 28, 2020 | Jul. 29, 2019 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stockholders Equity [Line Items] | |||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Temporary Equity | $ (693) | $ (729) | $ (634) | $ 2,736 | |||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (707) | (735) | (728) | (738) | |||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | 736 | 746 | $ 1,474 | $ 1,505 | |||||||||||||
Stock Repurchase Program, Authorized Amount | 1,000 | $ 1,000 | |||||||||||||||
Stock Repurchased and Retired During Period, Shares | 11,929,998 | ||||||||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ 26.02 | ||||||||||||||||
Stock Repurchased and Retired During Period, Value | 155 | $ 155 | $ 310 | ||||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 657 | 657 | |||||||||||||||
Total MPLX LP partners’ capital | $ 12,552 | $ 12,552 | $ 12,772 | ||||||||||||||
Cash distributions declared per limited partner common unit | $ 0.6875 | $ 0.6875 | $ 0.6875 | ||||||||||||||
Limited Partners Common Units [Member] | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Balance at December 31, 2020 | 1,027,031,091 | 1,038,777,978 | 1,038,777,978 | ||||||||||||||
Unit-based compensation awards | 183,111 | ||||||||||||||||
Balance at June 30, 2021 | 1,027,031,091 | 1,027,031,091 | |||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | [1] | $ 705 | 715 | $ 1,412 | 1,443 | ||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Temporary Equity | (10) | $ (11) | (10) | (11) | (21) | ||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | (21) | 0 | (21) | (21) | ||||||||||||
Stock Repurchased and Retired During Period, Value | 0 | 0 | |||||||||||||||
Total MPLX LP partners’ capital | 611 | $ 601 | 611 | $ 601 | 611 | 611 | $ 611 | $ 611 | |||||||||
Subsequent Event | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Stock Repurchased and Retired During Period, Shares | 126,293 | ||||||||||||||||
Stock Repurchased and Retired During Period, Value | $ 4 | ||||||||||||||||
Cash distributions declared per limited partner common unit | $ 0.6875 | ||||||||||||||||
Subsequent Event | Limited Partners Common Units [Member] | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 705 | ||||||||||||||||
Series B Preferred Stock [Member] | Preferred Partner [Member] | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | [1] | $ 10 | $ 10 | $ 21 | $ 21 | ||||||||||||
Series B Preferred Stock [Member] | ANDX LP [Member] | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Preferred Units, Outstanding | 600,000 | ||||||||||||||||
Dividend rate, percentage | 6.875% | 4.652% | |||||||||||||||
Price per share | $ 1,000 | ||||||||||||||||
Preferred Stock, Dividend Payment Rate, Variable | LIBOR plus | ||||||||||||||||
Series B Preferred Stock [Member] | ANDX LP [Member] | Preferred Partner [Member] | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Cash distributions declared per limited partner common unit | $ 68.75 | ||||||||||||||||
Series B Preferred Stock [Member] | Subsequent Event | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | $ (21) | ||||||||||||||||
Western Refining Wholesale & Western Refining Product Transport [Member] | |||||||||||||||||
Stockholders Equity [Line Items] | |||||||||||||||||
Partners' Capital Account, Units, Contributed | (18,582,088) | ||||||||||||||||
[1] | See Note 7 for distribution information. |
Equity - Cash Distributions (De
Equity - Cash Distributions (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 16, 2021 | Aug. 13, 2021 | Aug. 06, 2021 | Jul. 27, 2021 | Apr. 27, 2021 | Jul. 28, 2020 | Apr. 28, 2020 | Jul. 29, 2019 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 736 | $ 746 | $ 1,474 | $ 1,505 | |||||||||||
Cash distributions declared per limited partner common unit | $ 0.6875 | $ 0.6875 | $ 0.6875 | ||||||||||||
Partners' Capital Account, Distributions | 707 | $ 735 | 728 | $ 738 | |||||||||||
Subsequent Event | |||||||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Distribution Made to Limited Partner, Declaration Date | Jul. 27, 2021 | ||||||||||||||
Cash distributions declared per limited partner common unit | $ 0.6875 | ||||||||||||||
Date of record | Aug. 6, 2021 | ||||||||||||||
Subsequent Event | Series B Preferred Stock [Member] | |||||||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Distribution date | Aug. 16, 2021 | ||||||||||||||
Partners' Capital Account, Distributions | $ 21 | ||||||||||||||
Subsequent Event | Limited Partners Common Units [Member] | |||||||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Distribution date | Aug. 13, 2021 | ||||||||||||||
Limited Partners Common Units [Member] | |||||||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | [1] | 705 | 715 | 1,412 | 1,443 | ||||||||||
Limited Partners Common Units [Member] | Subsequent Event | |||||||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 705 | ||||||||||||||
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 | [1] | 10 | 10 | 21 | 21 | ||||||||||
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | |||||||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | [1] | $ 21 | $ 21 | $ 41 | $ 41 | ||||||||||
ANDX LP [Member] | 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 Units, Outstanding | 600,000 | ||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.875% | 4.652% | |||||||||||||
ANDX LP [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | |||||||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||||||||||||
Cash distributions declared per limited partner common unit | $ 68.75 | ||||||||||||||
[1] | See Note 7 for distribution information. |
Series A Preferred Units (Narra
Series A Preferred Units (Narrative) (Details) - $ / shares shares in Millions | Jul. 27, 2021 | Apr. 27, 2021 | Jul. 28, 2020 | Apr. 28, 2020 | May 13, 2016 | Jun. 30, 2021 |
Redeemable Noncontrolling Interest [Line Items] | ||||||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.6875 | $ 0.6875 | $ 0.6875 | |||
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 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 | Jul. 27, 2021 | |||||
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 | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Redeemable Noncontrolling Interest [Line Items] | ||
Distributions to unitholders and general partner | $ (1,421) | $ (1,445) |
Series A Convertible Preferred Units | ||
Redeemable Noncontrolling Interest [Line Items] | ||
Balance at December 31, 2020 | 968 | |
Net income allocated | 41 | |
Distributions to unitholders and general partner | (41) | |
Balance at June 30, 2021 | $ 968 |
Segment Information (Details)
Segment Information (Details) | 6 Months Ended |
Jun. 30, 2021 | |
Segment Reporting [Abstract] | |
Number of reportable segments | 2 |
Segment Information - Segment A
Segment Information - Segment Adjusted EBITDA (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||||
Segment Reporting Information [Line Items] | ||||||||
Depreciation and amortization | [1] | $ 318 | $ 321 | $ 647 | $ 646 | |||
Total revenues from contracts with customers | 1,896 | 1,592 | 3,758 | 3,373 | ||||
Income/(loss) from equity method investments(1) | [2] | 66 | 89 | 136 | [3] | (1,095) | [4] | |
Other income | 3 | 2 | 4 | 3 | ||||
Total segment revenues and other income | (2,395) | (2,081) | (4,734) | (3,073) | ||||
Investments in unconsolidated affiliates | (84) | (222) | ||||||
Not Designated as Hedging Instrument [Member] | Purchased product costs | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | [5] | (36) | (6) | (39) | 9 | |||
Marathon Petroleum Corporation [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Restructuring Charges | $ 37 | |||||||
Sales-type Lease, Revenue | 136 | 38 | 173 | 76 | ||||
L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Depreciation and amortization | 136 | 138 | 283 | 276 | ||||
Total revenues from contracts with customers | 996 | 952 | 1,953 | 1,975 | ||||
Investments in unconsolidated affiliates | (13) | (74) | (22) | (128) | ||||
L&S | Marathon Petroleum Corporation [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Sales-type Lease, Revenue | 136 | 38 | 173 | 76 | ||||
G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Depreciation and amortization | 182 | 183 | 364 | 370 | ||||
Total revenues from contracts with customers | 900 | 640 | 1,805 | 1,398 | ||||
Investments in unconsolidated affiliates | (36) | (57) | (62) | (94) | ||||
Operating Segments | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Adjusted EBITDA | 1,374 | 1,227 | 2,726 | 2,521 | ||||
Operating Segments | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Rental income | 176 | 246 | 425 | 488 | ||||
Income/(loss) from equity method investments(1) | 35 | 40 | 71 | 90 | ||||
Other income | 16 | 14 | 31 | 27 | ||||
Total segment revenues and other income | [6] | (1,359) | (1,290) | (2,653) | (2,656) | |||
Adjusted EBITDA | [7] | 947 | 839 | 1,843 | 1,711 | |||
Capital Expenditure | 76 | 108 | 135 | 292 | ||||
Operating Segments | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Rental income | 91 | 89 | 183 | 177 | ||||
Income/(loss) from equity method investments(1) | 31 | 49 | 65 | (1,185) | ||||
Other income | 14 | 13 | 28 | 27 | ||||
Total segment revenues and other income | [6] | (1,036) | (791) | (2,081) | (417) | |||
Adjusted EBITDA | [7] | 427 | 388 | 883 | 810 | |||
Capital Expenditure | 36 | 110 | 66 | 244 | ||||
Service [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 578 | 563 | 1,167 | 1,175 | ||||
Service [Member] | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 91 | 77 | 175 | 161 | ||||
Service [Member] | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 487 | 486 | 992 | 1,014 | ||||
Service [Member] | Operating Segments | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 992 | 931 | 1,945 | 1,935 | ||||
Service [Member] | Operating Segments | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 493 | 489 | 1,001 | 1,025 | ||||
Product [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 304 | 120 | 586 | 289 | ||||
Product [Member] | Operating Segments | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 4 | 21 | 8 | 40 | ||||
Product [Member] | Operating Segments | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 407 | 151 | 804 | 373 | ||||
Third Party [Member] | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total segment revenues and other income | (138) | (146) | (267) | (304) | ||||
Third Party [Member] | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total segment revenues and other income | $ (988) | $ (748) | $ (1,977) | $ (323) | ||||
[1] | Depreciation and amortization attributable to L&S was $136 million and $283 million for the three and six months ended June 30, 2021, respectively, and $138 million and $276 million for the three and six months ended June 30, 2020, respectively. Depreciation and amortization attributable to G&P was $182 million and $364 million for the three and six months ended June 30, 2021, respectively, and $183 million and $370 million for the three and six months ended June 30, 2020, respectively. | |||||||
[2] | The three and six months ended June 30, 2021 includes $6 million of impairment expense. The six months ended June 30, 2020 includes $1,264 million of impairment expense. | |||||||
[3] | Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. | |||||||
[4] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. | |||||||
[5] | 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. | |||||||
[6] | Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $138 million and $267 million for the three and six months ended June 30, 2021, respectively, and $146 million and $304 million for the three and six months ended June 30, 2020, respectively. Third party revenues for the G&P segment were $988 million and $1,977 million for the three and six months ended June 30, 2021, respectively, and $748 million and $323 million for the three and six months ended June 30, 2020, respectively. | |||||||
[7] | See below for the reconciliation from Segment Adjusted EBITDA to “Net income.” |
Segment Information - Assets by
Segment Information - Assets by Segment (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Cash and cash equivalents | $ 8 | $ 15 |
Assets | 35,773 | 36,414 |
L&S | Operating Segments | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Assets | 20,869 | 20,938 |
G&P | Operating Segments | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Assets | $ 14,896 | $ 15,461 |
Segment Information - Reconcili
Segment Information - Reconciliation to Net Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Depreciation and amortization | [1] | $ 318 | $ 321 | $ 647 | $ 646 | |||
Income Tax Expense (Benefit) | 0 | 0 | (1) | 0 | ||||
Amortization of Debt Issuance Costs | (35) | (29) | ||||||
Share-based Payment Arrangement, Expense | (2) | (3) | (5) | (8) | ||||
Goodwill and Intangible Asset Impairment | (42) | 0 | (42) | (2,165) | ||||
Interest and Other Financial Costs | (198) | (208) | (418) | (424) | ||||
Extinguishment of Debt, Gain (Loss), Net of Tax | 0 | 0 | 12 | 0 | ||||
Income/(loss) from equity method investments(1) | [2] | 66 | 89 | 136 | [3] | (1,095) | [4] | |
Proceeds from Equity Method Investment, Distribution, Return of Capital | (239) | (226) | ||||||
Other Cost and Expense, Operating | 0 | 1 | 2 | 2 | ||||
Net income | 715 | 655 | 1,463 | (2,061) | ||||
Marathon Petroleum Corporation [Member] | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Restructuring Charges | $ (37) | |||||||
Operating Segments | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Adjusted EBITDA | 1,374 | 1,227 | 2,726 | 2,521 | ||||
Amortization of Debt Issuance Costs | (18) | (15) | (35) | (29) | ||||
Segment Reconciling Items [Member] | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | (121) | (115) | (242) | (239) | ||||
Adjusted EBITDA attributable to noncontrolling interests | 10 | 8 | 20 | 17 | ||||
L&S | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Depreciation and amortization | 136 | 138 | 283 | 276 | ||||
L&S | Operating Segments | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Adjusted EBITDA | [5] | 947 | 839 | 1,843 | 1,711 | |||
Income/(loss) from equity method investments(1) | 35 | 40 | 71 | 90 | ||||
G&P | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Depreciation and amortization | 182 | 183 | 364 | 370 | ||||
G&P | Operating Segments | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Adjusted EBITDA | [5] | 427 | 388 | 883 | 810 | |||
Income/(loss) from equity method investments(1) | 31 | 49 | 65 | (1,185) | ||||
Not Designated as Hedging Instrument [Member] | Purchased product costs | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | [6] | $ (36) | $ (6) | $ (39) | $ 9 | |||
[1] | Depreciation and amortization attributable to L&S was $136 million and $283 million for the three and six months ended June 30, 2021, respectively, and $138 million and $276 million for the three and six months ended June 30, 2020, respectively. Depreciation and amortization attributable to G&P was $182 million and $364 million for the three and six months ended June 30, 2021, respectively, and $183 million and $370 million for the three and six months ended June 30, 2020, respectively. | |||||||
[2] | The three and six months ended June 30, 2021 includes $6 million of impairment expense. The six months ended June 30, 2020 includes $1,264 million of impairment expense. | |||||||
[3] | Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. | |||||||
[4] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. | |||||||
[5] | See below for the reconciliation from Segment Adjusted EBITDA to “Net income.” | |||||||
[6] | MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Inventories (Summary of Invento
Inventories (Summary of Inventories) (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Inventory Disclosure [Abstract] | ||
NGLs | $ 5 | $ 5 |
Line fill | 18 | 13 |
Spare parts, materials and supplies | 103 | 100 |
Total inventories | $ 126 | $ 118 |
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 | Jun. 30, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | $ 174 | ||
Property, plant and equipment, gross | $ 26,330 | $ 26,875 | |
Less accumulated depreciation | 5,978 | 5,657 | |
Property, plant and equipment, net | 20,352 | 21,218 | |
L&S | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 12,243 | 12,813 | |
L&S | Terminals | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 6,045 | 6,026 | |
L&S | Marine | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 965 | 965 | |
L&S | Terminals and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 1,652 | 1,643 | |
L&S | Refineries and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 1,789 | 2,333 | |
L&S | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 1,575 | 1,584 | |
L&S | Construction-in-progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 217 | 262 | |
G&P | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 14,087 | 14,062 | |
G&P | Pipelines | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 7,574 | 7,547 | |
G&P | Processing, fractionation and storage facilities | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 5,726 | 5,721 | |
G&P | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 511 | 507 | |
G&P | Construction-in-progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 276 | $ 287 |
Goodwill and Intangibles Good_2
Goodwill and Intangibles Goodwill (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2020 | Dec. 31, 2020 | Jun. 30, 2021 | Jul. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Line Items] | |||||
Goodwill, Gross | $ 10,798 | $ 10,863 | |||
Goodwill, Impaired, Accumulated Impairment Loss | (3,141) | (1,327) | |||
Goodwill | $ (7,657) | (7,657) | (9,536) | ||
Goodwill, Impairment Loss | (1,814) | ||||
Goodwill, Written off Related to Sale of Business Unit | (65) | ||||
L&S | |||||
Goodwill [Line Items] | |||||
Goodwill, Gross | 7,657 | 7,722 | |||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | |||
Goodwill | (7,657) | (7,657) | (7,722) | ||
Goodwill, Impairment Loss | 0 | ||||
G&P | |||||
Goodwill [Line Items] | |||||
Goodwill, Gross | 3,141 | 3,141 | |||
Goodwill, Impaired, Accumulated Impairment Loss | (3,141) | (1,327) | |||
Goodwill | 0 | $ 0 | $ (1,814) | ||
Goodwill, Impairment Loss | $ (1,814) | (1,814) | |||
Western Refining Wholesale & Western Refining Product Transport [Member] | |||||
Goodwill [Line Items] | |||||
Goodwill | $ (65) | ||||
Western Refining Wholesale & Western Refining Product Transport [Member] | L&S | |||||
Goodwill [Line Items] | |||||
Goodwill, Written off Related to Sale of Business Unit | (65) | ||||
Western Refining Wholesale & Western Refining Product Transport [Member] | G&P | |||||
Goodwill [Line Items] | |||||
Goodwill, Written off Related to Sale of Business Unit | $ 0 |
Goodwill and Intangibles Intang
Goodwill and Intangibles Intangibles (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | |||
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 Asset, Expected Amortization, Remainder of Fiscal Year | 64 | ||||
Finite-Lived Intangible Asset, Expected Amortization, Year One | 127 | ||||
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 127 | ||||
Finite-Lived Intangible Asset, Expected Amortization, Year Four | 113 | ||||
Finite-Lived Intangible Asset, Expected Amortization, after Year Five | 338 | ||||
Finite-Lived Intangible Assets, Accumulated Amortization | (675) | [1] | (612) | [2] | |
Intangibles, net | 896 | 959 | |||
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 127 | ||||
L&S | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization of Intangible Assets | 18 | ||||
Finite-Lived Intangible Assets, Gross | 283 | 283 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (99) | [1] | (81) | ||
Intangibles, net | $ 184 | 202 | |||
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 | $ 45 | ||||
Finite-Lived Intangible Assets, Gross | 1,288 | 1,288 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | (576) | [1] | (531) | [2] | |
Intangibles, net | $ 712 | $ 757 | |||
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 L&S and G&P segments for the six months ended June 30, 2021 was $18 million and $45 million, respectively. | ||||
[2] | Impairment charge of $177 million is included within the G&P accumulated amortization. |
Fair Value Measurements - Recur
Fair Value Measurements - Recurring - Financial Instruments by Valuation Hierarchy (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Commodity contracts | Not Designated as Hedging Instrument [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | $ 0 | $ 0 |
Derivative Liability, Fair Value, Gross Liability | [1] | (102) | (63) |
Embedded derivatives in commodity contracts | Fair Value, Recurring [Member] | 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 | $ 102 | $ 63 | |
[1] | Includes embedded derivatives in commodity contracts as discussed above. |
Fair Value Measurments - Recurr
Fair Value Measurments - Recurring - Significant Unobservable Inputs in Level 3 Valuation (Details) | 6 Months Ended | ||
Jun. 30, 2021USD ($)$ / gal | Dec. 31, 2020USD ($) | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative, Average Forward Price | $ / gal | 0.81 | ||
Commodity contracts | Not Designated as Hedging Instrument [Member] | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | $ 0 | $ 0 |
Derivative Liability, Fair Value, Gross Liability | [1] | $ (102,000,000) | (63,000,000) |
Embedded derivatives in commodity contracts | Natural Gas [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 Second Term | 100.00% | ||
Fair Value Inputs Probability of Renewal | 100.00% | ||
Fair Value, Inputs, Level 3 [Member] | Embedded derivatives in commodity contracts | Fair Value, Recurring [Member] | |||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |||
Derivative Asset | $ 0 | $ 0 | |
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 | 0.64 | ||
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 | $ 1.59 | ||
[1] | Includes embedded derivatives in commodity contracts as discussed above. |
Fair Value Measurements - Rec_2
Fair Value Measurements - Recurring - Changes in Level 3 Measurements (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
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 | $ 0 | $ 0 | ||
Total gains (losses) (realized and unrealized) included in earnings | [1] | 0 | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | 0 | ||
Fair value at end of period | 0 | 0 | 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 | 0 | 0 | ||
Commodity Derivative Contracts (net) | Not Designated as Hedging Instrument [Member] | ||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Derivative Asset, Fair Value, Gross Asset | [2] | 0 | 0 | $ 0 | ||
Derivative Liability, Fair Value, Gross Liability | [2] | (102) | (102) | $ (63) | ||
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 | (66) | (45) | (63) | (60) | ||
Total gains (losses) (realized and unrealized) included in earnings | [1] | (39) | (7) | (45) | 7 | |
Settlements | 3 | 1 | 6 | 2 | ||
Fair value at end of period | (102) | (51) | (102) | (51) | ||
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 | $ (39) | $ (6) | $ (41) | $ 7 | ||
[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. | |||||
[2] | Includes embedded derivatives in commodity contracts as discussed above. |
Fair Value Measurements - Repor
Fair Value Measurements - Reported (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt (including amounts due within one year) | $ 19,335 | $ 20,244 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt (including amounts due within one year) | $ 21,838 | $ 22,951 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Embedded Derivatives in Commodity Contracts (Details) - Embedded derivatives in commodity contracts $ in Millions | 6 Months Ended | |
Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | ||
Derivative [Line Items] | ||
Derivative Liability | $ (102) | $ (63) |
Natural Gas [Member] | ||
Derivative [Line Items] | ||
Number of Renewals | 2 | |
Embedded Derivative Renewal Term | 5 years | |
Embedded Derivative Second Renewal Term | 5 years |
Derivative Financial Instrume_4
Derivative Financial Instruments - Derivatives Balance Sheet Location (Details) - Not Designated as Hedging Instrument [Member] - Commodity contracts - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Derivatives, Fair Value [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | $ 0 | $ 0 |
Derivative Liability, Fair Value, Gross Liability | [1] | 102 | 63 |
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] | 14 | 7 |
Other noncurrent assets [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 0 |
Other Noncurrent Liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | $ 88 | $ 56 |
[1] | Includes embedded derivatives in commodity contracts as discussed above. |
Derivatives Financial Instrumen
Derivatives Financial Instruments - Derivative Income Statement Location (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Derivative [Line Items] | |||||
Total gain (loss) | $ (39) | $ (7) | $ (45) | $ 7 | |
Purchased product costs | |||||
Derivative [Line Items] | |||||
Realized gain (loss) | (3) | (1) | (6) | (2) | |
Total gain (loss) | (39) | (7) | (45) | 7 | |
Not Designated as Hedging Instrument [Member] | Purchased product costs | |||||
Derivative [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | [1] | $ (36) | $ (6) | $ (39) | $ 9 |
[1] | MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Debt - Summary of Outstanding B
Debt - Summary of Outstanding Borrowings (Detail) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | |||
Total | $ 19,609 | $ 20,536 | |
Unamortized debt issuance costs | (109) | (116) | |
Unamortized discount/premium | (265) | (281) | |
Amounts due within one year | (1) | (764) | |
Total long-term debt due after one year | 19,234 | 19,375 | |
Variable Rate Senior Notes [Member] | MPLX LP [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 1,000 | 1,000 | |
Fixed Rate Senior Notes [Member] | MPLX LP [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 18,532 | 19,240 | |
Fixed Rate Senior Notes [Member] | MarkWest [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 23 | 23 | |
Fixed Rate Senior Notes [Member] | ANDX LP [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt, Gross | 45 | 87 | |
Finance Lease [Member] | Marathon Pipe Line LLC [Member] | |||
Debt Instrument [Line Items] | |||
Financing lease obligations(1) | [1] | 9 | 11 |
MPLX Revolving Credit Facility due July 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Line of Credit | $ 0 | $ 175 | |
Minimum [Member] | Fixed Rate Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.75% | ||
Maximum [Member] | Fixed Rate Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ||
[1] | See Note 20 for lease information. |
Debt - Additional Information (
Debt - Additional Information (Detail) - USD ($) $ in Millions | Sep. 09, 2019 | Jun. 30, 2021 | Jan. 15, 2021 | Dec. 31, 2020 | Jul. 30, 2019 | |
Debt Instrument [Line Items] | ||||||
Debt and Lease Obligation | $ 19,609 | $ 20,536 | ||||
Unamortized Debt Issuance Expense | 109 | 116 | ||||
Debt Instrument, Unamortized Discount | 265 | 281 | ||||
Debt, Current | 1 | 764 | ||||
Long-term debt | 19,234 | 19,375 | ||||
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 | 0 | 175 | ||||
MPLX Revolving Credit Facility due July 2024 [Member] | MPLX LP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from Lines of Credit | $ 2,800 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 1.345% | |||||
Repayments of Long-term Lines of Credit | $ 2,975 | |||||
Letters of Credit Outstanding | 1 | |||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 3,500 | |||||
Line of Credit Facility, Remaining Borrowing Capacity, Percentage | 100.00% | |||||
Fixed Rate Senior Notes [Member] | MPLX LP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 18,532 | 19,240 | ||||
Fixed Rate Senior Notes [Member] | ANDX LP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 45 | 87 | ||||
Fixed Rate Senior Notes [Member] | MarkWest [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 23 | 23 | ||||
Fixed Rate Senior Notes [Member] | Senior Notes Due January 2025 | ||||||
Debt Instrument [Line Items] | ||||||
Gain (Loss) on Extinguishment of Debt | $ (8) | |||||
Long-term Debt, Gross | $ 750 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 525.00% | |||||
Percent of Par | 102.625% | |||||
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 20 | |||||
Write off of Deferred Debt Issuance Cost | 12 | |||||
Fixed Rate Senior Notes [Member] | Senior Notes Due January 2025 | ANDX LP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 42 | |||||
Variable Rate Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Percent of Par | 100.00% | |||||
Variable Rate Senior Notes [Member] | MPLX LP [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 1,000 | 1,000 | ||||
Variable Rate Senior Notes [Member] | Floating Rate Senior Notes Due September 2022 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.1 percent per annum | |||||
Finance Lease [Member] | Marathon Pipe Line LLC [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Finance Lease, Liability | [1] | $ 9 | $ 11 | |||
Minimum [Member] | Fixed Rate Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.75% | |||||
Maximum [Member] | Fixed Rate Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | |||||
[1] | See Note 20 for lease information. |
Revenue Disaggregation of Reven
Revenue Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | $ 1,896 | $ 1,592 | $ 3,758 | $ 3,373 | |||
Income/(loss) from equity method investments(1) | [1] | 66 | 89 | 136 | [2] | (1,095) | [3] |
Other Operating Income | 3 | 2 | 4 | 3 | |||
Related Party Transaction, Other Revenues from Transactions with Related Party | 27 | 25 | 55 | 51 | |||
Operating Income (Loss) | [4] | 499 | 489 | 976 | (300) | ||
Total segment revenues and other income | 2,395 | 2,081 | 4,734 | 3,073 | |||
L&S | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 996 | 952 | 1,953 | 1,975 | |||
G&P | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 900 | 640 | 1,805 | 1,398 | |||
Service [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 578 | 563 | 1,167 | 1,175 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 907 | 857 | 1,779 | 1,785 | |||
Service [Member] | L&S | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 91 | 77 | 175 | 161 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 901 | 854 | 1,770 | 1,774 | |||
Service [Member] | G&P | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 487 | 486 | 992 | 1,014 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 6 | 3 | 9 | 11 | |||
Service, Other [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 76 | 22 | 153 | 61 | |||
Service, Other [Member] | L&S | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 0 | 0 | 0 | 0 | |||
Service, Other [Member] | G&P | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 76 | 22 | 153 | 61 | |||
Product [Member] | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Total revenues from contracts with customers | 304 | 120 | 586 | 289 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 31 | 30 | 73 | 63 | |||
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | 304 | 120 | 586 | 289 | |||
Product [Member] | L&S | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 3 | 4 | 6 | 8 | |||
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | 1 | 17 | 2 | 32 | |||
Product [Member] | G&P | |||||||
Disaggregation of Revenue [Line Items] | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 28 | 26 | 67 | 55 | |||
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | $ 303 | $ 103 | $ 584 | $ 257 | |||
[1] | The three and six months ended June 30, 2021 includes $6 million of impairment expense. The six months ended June 30, 2020 includes $1,264 million of impairment expense. | ||||||
[2] | Includes the impact of any basis differential amortization or accretion in addition to an impairment of $6 million. | ||||||
[3] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million. | ||||||
[4] | Non-ASC 606 Revenue includes rental income, sales-type lease revenue, income/(loss) from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. |
Revenue Contract Balances (Deta
Revenue Contract Balances (Details) - USD ($) $ in Millions | 6 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | [1] | ||
Long-term deferred revenue, beginning balance | $ 314 | ||||
Long-term deferred revenue, ending balance | 349 | ||||
Liability, change in timeframe, performance obligation satisfied, revenue recognized | 0 | $ 0 | |||
Contract Liability, Noncurrent, Period Increase (Decrease) | 0 | ||||
ASC 606 | |||||
Contract assets, beginning balance | [1] | 40 | 39 | ||
Contract assets, additions/(deletions) | (25) | (20) | |||
Contract assets, revenue recognized | [2] | 1 | (1) | ||
Contract assets, ending balance | 16 | 18 | |||
Contract With Customer Non Current Asset Reclassified To Receivable [Line Items] | 0 | ||||
Contract with Customer, Asset, before Allowance for Credit Loss, Noncurrent | 2 | $ 2 | |||
Deferred revenue, beginning balance | [1] | 37 | 23 | ||
Deferred revenue, additions/(deletions) | 24 | 8 | |||
Deferred revenue, revenue recognized | [2] | (17) | (5) | ||
Deferred revenue, ending balance | 44 | 26 | |||
Deferred revenue - related parties, beginning balance | [1] | 91 | 53 | ||
Deferred revenue - related party, additions/(deletions) | 37 | 48 | |||
Deferred revenue - related parties, revenue recognized | [2] | (50) | (29) | ||
Deferred revenue - related parties, ending balance | 78 | 72 | |||
Long-term deferred revenue, beginning balance | [1] | 119 | 90 | ||
Long-term deferred revenue, additions/(deletions) | 9 | 11 | |||
Long-term deferred revenue, revenue recognized | [2] | 0 | 0 | ||
Long-term deferred revenue, ending balance | 128 | 101 | |||
Long-term deferred revenue - related parties, beginning balance | [1] | 48 | 55 | ||
Long-term deferred revenue - related party, additions/(deletions) | (8) | (2) | |||
Long-term deferred revenue - related parties, revenue recognized | [2] | 0 | 0 | ||
Long-term deferred revenue - related parties, ending balance | 40 | $ 53 | |||
Contract Liability, Noncurrent, Revenue Recognized | 0 | ||||
Contract with Customer, Liability, Noncurrent | 6 | $ 6 | |||
Contract with Customer, Asset Increase (Decrease), Noncurrent | $ 0 | ||||
[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. |
Revenue Remaining Performance O
Revenue Remaining Performance Obligations (Details) $ in Millions | Jun. 30, 2021USD ($) | |
Revenue from Contract with Customer [Abstract] | ||
Contract with customer, liability | $ 289 | |
Revenue, Remaining Performance Obligation, Amount | 10,233 | [1],[2],[3] |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 933 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | 6 months | |
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 | $ 1,767 | |
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]: 2023-01-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,615 | |
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]: 2024-01-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,491 | |
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]: 2025-01-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 4,427 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2043-10-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | 23 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 (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Net cash provided by operating activities included: | ||
Interest paid (net of amounts capitalized) | $ 414 | $ 423 |
Income Taxes Paid, Net | 1 | 1 |
Non-cash investing and financing activities | ||
Net transfers of property, plant and equipment (to)/from materials and supplies inventories | $ 0 | $ (1) |
Supplemental Cash Flow Inform_4
Supplemental Cash Flow Information - Summary of Reconciliation of Additions to Property, Plant and Equipment to Total Capital Expenditures (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Supplemental Cash Flow Elements [Abstract] | ||
Decrease in capital accruals | $ (34) | $ (172) |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||||||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | [2] | Mar. 31, 2020 | Dec. 31, 2019 | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Adjustment, Net of Tax | [1] | $ 0 | $ 0 | $ (2) | $ (1) | |||||||||
LOOP and Explorer | ||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||
Accumulated other comprehensive loss | (17) | [2] | (16) | [2] | (17) | [2] | (16) | [2] | $ (17) | $ (15) | $ (16) | $ (15) | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Adjustment, Net of Tax | (2) | [1] | (1) | |||||||||||
Pension Plan [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | LOOP and Explorer | ||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||
Accumulated other comprehensive loss | (15) | [2] | (14) | [2] | (15) | [2] | (14) | [2] | (13) | (14) | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Adjustment, Net of Tax | (2) | [1] | 0 | |||||||||||
Other Postretirement Benefits Plan [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | LOOP and Explorer | ||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||
Accumulated other comprehensive loss | $ (2) | [2] | $ (2) | [2] | (2) | [2] | (2) | [2] | $ (2) | $ (1) | ||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Adjustment, Net of Tax | $ 0 | [1] | $ (1) | |||||||||||
[1] | 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. | |||||||||||||
[2] | These components of “Accumulated other comprehensive loss” are included in the computation of net periodic benefit cost by LOOP and Explorer and are therefore included on the Consolidated Statements of Income under the caption “Income/(loss) from equity method investments.” |
Equity-Based Compensation Pla_2
Equity-Based Compensation Plan - Summary of Phantom Unit Award Activity (Details) - Phantom Units | 6 Months Ended |
Jun. 30, 2021$ / sharesshares | |
Number of Units | |
Outstanding at December 31, 2020 | shares | 644,023 |
Granted | shares | 335,904 |
Settled | shares | 201,400 |
Forfeited | shares | 1,330 |
Outstanding at June 30, 2021 | shares | 777,197 |
Weighted Average Fair Value | |
Outstanding at December 31, 2020 | $ / shares | $ 28.65 |
Granted | $ / shares | 24.97 |
Settled | $ / shares | 30.30 |
Forfeited | $ / shares | 33.19 |
Outstanding at June 30, 2021 | $ / shares | $ 26.63 |
Equity-Based Compensation Pla_3
Equity-Based Compensation Plan - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2021$ / shares | |
Maximum [Member] | Performance Unit Performance Condition [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 2 |
Equity-Based Compensation Pla_4
Equity-Based Compensation Plan - Summary of Performance Unit Award Activity (Detail) | 6 Months Ended | |
Jun. 30, 2021$ / sharesshares | ||
Performance Shares [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Outstanding at December 31, 2020 | 3,092,286 | |
Granted | 375,730 | [1] |
Settled | 1,347,177 | |
Forfeited | (1,761) | |
Outstanding at June 30, 2021 | 2,119,078 | |
Maximum [Member] | Performance Unit Performance Condition [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 2 | |
[1] | No new performance unit awards were granted during the six months ended June 30, 2021. The performance units shown above as granted represents subsequent tranches of the 2020 and 2019 performance unit awards that were subject to a performance condition based on MPLX LP’s 2021 distributable cash flow, which, due to the nature of the award terms, did not meet the criteria for a grant date fair value until the first quarter of 2021, at which time we began recognizing units and expense related to these tranches. Grant date fair value of the performance condition is based on potential payouts of up to $2.00 per unit. Compensation cost associated with the performance condition is based on the grant date fair value of the payout deemed most probable to occur and is adjusted as the expectation for payout changes. |
Leases Leases Narrative (Detail
Leases Leases Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | ||
Reclassification, Other | |||||||
Lessor, Sales-type Lease, Assumptions and Judgments, Value of Underlying Asset, Amount | $ 421 | $ 421 | |||||
Marathon Petroleum Corporation [Member] | |||||||
Operating Lease, Lease Income | [1] | 144 | $ 195 | 346 | $ 381 | ||
Sales-type Lease, Unguaranteed Residual Asset | 38 | 38 | $ 23 | ||||
Sales-type Lease, Selling Profit (Loss) | 0 | 0 | 0 | 0 | |||
Sales-type Lease, Lease Receivable | 917 | 917 | |||||
Marathon Petroleum Corporation [Member] | Reclassification, Other | |||||||
Sales-type Lease, Unguaranteed Residual Asset | 14 | 14 | |||||
Sales-type Lease, Selling Profit (Loss) | 112 | ||||||
Sales-type Lease, Lease Receivable | 519 | 519 | |||||
Refining Logistics [Member] | Reclassification, Other | |||||||
Lessor, Sales-type Lease, Assumptions and Judgments, Value of Underlying Asset, Amount | $ 171 | ||||||
Refining Logistics [Member] | Marathon Petroleum Corporation [Member] | Reclassification, Other | |||||||
Sales-type Lease, Unguaranteed Residual Asset | 10 | ||||||
Sales-type Lease, Selling Profit (Loss) | 209 | ||||||
Sales-type Lease, Lease Receivable | $ 370 | ||||||
Third Party [Member] | |||||||
Operating Lease, Lease Income | [1] | 68 | $ 66 | 136 | $ 129 | ||
Sales-type Lease, Selling Profit (Loss) | 0 | 0 | |||||
Sales-type Lease, Lease Receivable | $ 1 | $ 1 | |||||
[1] | These amounts are presented net of executory costs |
Leases Lessor Maturity Table (D
Leases Lessor Maturity Table (Details) $ in Millions | Jun. 30, 2021USD ($) |
Marathon Petroleum Corporation [Member] | |
Lessor, Lease, Description [Line Items] | |
Sales-type Lease, Lease Receivable | $ 917 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Current Year | 271 |
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year One | 543 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Three Years | 544 |
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Three | 537 |
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Four | 525 |
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, after Year Five | 1,017 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 3,437 |
Sales-type and Direct Financing Leases, Lease Receivable, Undiscounted Excess Amount | 2,520 |
Marathon Petroleum Corporation [Member] | Reclassification, Other | |
Lessor, Lease, Description [Line Items] | |
Sales-type Lease, Lease Receivable | 519 |
Third Party [Member] | |
Lessor, Lease, Description [Line Items] | |
Sales-type Lease, Lease Receivable | $ 1 |
Leases Lessor Lease Revenues (D
Leases Lessor Lease Revenues (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Marathon Petroleum Corporation [Member] | |||||
Lessor, Lease, Description [Line Items] | |||||
Operating Lease, Lease Income | [1] | $ 144 | $ 195 | $ 346 | $ 381 |
Sales-type Lease, Selling Profit (Loss) | 0 | 0 | 0 | 0 | |
Sales-type Lease, Interest Income | 135 | 38 | 172 | 76 | |
Sales-type Lease, Variable Lease Income | 1 | 0 | 1 | 0 | |
Third Party [Member] | |||||
Lessor, Lease, Description [Line Items] | |||||
Operating Lease, Lease Income | [1] | 68 | $ 66 | 136 | $ 129 |
Sales-type Lease, Selling Profit (Loss) | 0 | 0 | |||
Sales-type Lease, Interest Income | 0 | 0 | |||
Sales-type Lease, Variable Lease Income | $ 0 | $ 0 | |||
[1] | These amounts are presented net of executory costs |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | |
Commitments And Contingencies [Line Items] | |||
Accrued liabilities for environmental remediation | $ 17 | $ 24 | |
Due to Related Parties, Current | 356 | 812 | |
Loss Contingency, Damages Sought, Value | 187 | ||
Contractual commitments to acquire property, plant and equipment | 83 | ||
Loss Contingency, Damages Paid, Value | $ 4 | ||
Marathon Petroleum Corporation [Member] | |||
Commitments And Contingencies [Line Items] | |||
Due to Related Parties, Current | 215 | 689 | |
Environmental Loss Contingency [Member] | Marathon Petroleum Corporation [Member] | |||
Commitments And Contingencies [Line Items] | |||
Due to Related Parties, Current | $ 0 | $ 0 | |
Whistler Pipeline LLC [Member] | |||
Commitments And Contingencies [Line Items] | |||
Equity method investment, ownership percentage | 38.00% | ||
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 |
Subsequent Events (Details)
Subsequent Events (Details) - Variable Rate Senior Notes [Member] - USD ($) $ in Millions | Aug. 04, 2021 | Sep. 09, 2019 | Jun. 30, 2021 | Dec. 31, 2020 |
Subsequent Event [Line Items] | ||||
Percent of Par | 100.00% | |||
Floating Rate Senior Notes Due September 2022 [Member] | ||||
Subsequent Event [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.1 percent per annum | |||
Subsequent Event | Floating Rate Senior Notes Due September 2022 [Member] | ||||
Subsequent Event [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.1 percent per annum | |||
MPLX LP [Member] | ||||
Subsequent Event [Line Items] | ||||
Long-term Debt, Gross | $ 1,000 | $ 1,000 | ||
MPLX LP [Member] | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Long-term Debt, Gross | $ 1,000 | |||
Percent of Par | 100.00% |