← MPLX LP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $233.0m | $794.0m | $1.8b | $1.0b | ($720.0m) | $3.1b | $3.9b | $3.9b | $4.4b | $5.0b | |
| Net Income (Loss) Available to Common Stockholders, Basic | $258.0m | $836.0m | $1.8b | $1.5b | ($687.0m) | $3.1b | $4.0b | $3.9b | $4.3b | $4.9b | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $434.0m | $836.0m | $1.8b | $1.5b | ($687.0m) | $3.1b | $4.0b | $4.0b | $4.4b | $5.0b | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $683.0m | $1.2b | $2.5b | $2.4b | $211.0m | $4.0b | — | — | $4.3b | $4.9b | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $2.0m | $6.0m | $16.0m | $28.0m | $33.0m | $35.0m | $34.0m | $38.0m | $40.0m | $40.0m | |
| Amortization of Debt Issuance Costs | $46.0m | $53.0m | $59.0m | $42.0m | $61.0m | $70.0m | $73.0m | — | — | — | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | — | — | — | — | $55.0m | $54.0m | $30.0m | |
| Amortization of Intangible Assets | — | — | $38.0m | — | — | — | — | — | — | — | |
| Depreciation | $591.0m | $683.0m | $766.0m | $1.3b | $1.4b | $1.3b | $1.2b | $1.2b | $1.3b | $1.4b | |
| Amortization of deferred financing costs and debt discount | — | — | — | — | — | $70.0m | $73.0m | $55.0m | $54.0m | $30.0m | |
| Deferred Income Tax Expense (Benefit) | ($17.0m) | ($1.0m) | $8.0m | ($2.0m) | ($1.0m) | ($2.0m) | $3.0m | $3.0m | $2.0m | $7.0m | |
| Deferred income taxes | ($17.0m) | ($1.0m) | $8.0m | ($2.0m) | ($1.0m) | ($2.0m) | $3.0m | $3.0m | $2.0m | $7.0m | |
| Share-based Payment Arrangement, Expense | — | — | ($19.0m) | ($22.0m) | $14.0m | — | — | — | — | — | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | $14.0m | $1.3b | — | — | — | — | — | |
| Goodwill and Intangible Asset Impairment | $130.0m | $0 | $0 | $1.2b | $2.2b | — | — | — | — | — | |
| Goodwill, Impairment Loss | $130.0m | $0 | $0 | $1.2b | $1.8b | $0 | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets, Finite-lived | — | — | — | — | $177.0m | — | — | — | — | — | |
| Gain (Loss) on Disposition of Assets | — | — | — | — | — | — | ($34.0m) | $14.0m | ($3.0m) | $161.0m | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $1.0m | $0 | ($2.0m) | $6.0m | ($4.0m) | $13.0m | — | — | — | — | |
| Gain (Loss) on Disposition of Assets for Financial Service Operations | $1.0m | $0 | — | — | — | — | — | — | — | — | |
| Income (Loss) from Equity Method Investments | ($74.0m) | $78.0m | $240.0m | $290.0m | ($936.0m) | $321.0m | $476.0m | $600.0m | $802.0m | $697.0m | |
| Income Tax Expense (Benefit) | ($12.0m) | $1.0m | $8.0m | $0 | $2.0m | $1.0m | $8.0m | $11.0m | $10.0m | — | |
| Operating Lease, Lease Income | — | — | — | $257.0m | — | — | $327.0m | — | — | — | |
| Other Nonoperating Income (Expense) | ($50.0m) | ($56.0m) | ($122.0m) | ($53.0m) | ($62.0m) | ($86.0m) | — | — | — | — | |
| Gain on equity method investments | — | — | — | — | — | — | — | ($92.0m) | ($20.0m) | ($484.0m) | |
| Income from equity method investments | $74.0m | ($78.0m) | ($240.0m) | ($290.0m) | $936.0m | ($321.0m) | ($476.0m) | ($600.0m) | ($802.0m) | ($697.0m) | |
| Right of use assets and operating lease liabilities | — | $0 | $0 | $4.0m | ($5.0m) | ($2.0m) | ($3.0m) | $0 | ($3.0m) | $3.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $52.0m | ($8.0m) | $122.0m | ($17.0m) | ($62.0m) | $199.0m | ($14.0m) | ($14.0m) | ($180.0m) | ($48.0m) | |
| Increase (Decrease) in Inventories | $8.0m | $3.0m | $5.0m | $9.0m | $12.0m | $24.0m | $5.0m | $19.0m | $20.0m | $26.0m | |
| Asset Retirement Obligation, Accretion Expense | $1.0m | $1.0m | $1.0m | — | — | — | — | — | — | — | |
| General and Administrative Expense | $227.0m | $241.0m | $291.0m | $388.0m | $378.0m | $353.0m | $335.0m | $379.0m | $427.0m | $446.0m | |
| Goodwill | $2.2b | $2.2b | $2.6b | $9.5b | $7.7b | $7.7b | $7.6b | $7.6b | $7.6b | $8.8b | |
| Investment Income, Interest | — | — | — | — | — | — | — | — | $95.0m | $68.0m | |
| Proceeds from Contributions from Affiliates | $0 | $0 | — | $6.0m | — | — | — | — | — | — | |
| Proceeds from Contributions from Parent | $225.0m | $0 | $0 | $74.0m | $50.0m | $45.0m | $44.0m | $31.0m | $35.0m | $24.0m | |
| Sales-type Lease, Selling Profit (Loss) | — | — | — | $21.0m | $0 | $0 | — | — | — | — | |
| (Gain)/loss on disposal of assets | — | — | — | ($6.0m) | $4.0m | ($13.0m) | $34.0m | ($14.0m) | $3.0m | ($161.0m) | |
| Distributions from unconsolidated affiliates | $148.0m | $241.0m | $400.0m | $525.0m | $459.0m | $508.0m | $578.0m | $736.0m | $826.0m | $864.0m | |
| Change in fair value of derivatives | $43.0m | $6.0m | ($10.0m) | $2.0m | $3.0m | $45.0m | ($47.0m) | $0 | ($3.0m) | ($17.0m) | |
| Current receivables | ($52.0m) | $8.0m | ($122.0m) | $17.0m | $62.0m | ($199.0m) | $14.0m | $14.0m | $180.0m | $48.0m | |
| Inventories | ($8.0m) | ($3.0m) | ($5.0m) | ($9.0m) | ($12.0m) | ($24.0m) | ($5.0m) | ($19.0m) | ($20.0m) | ($26.0m) | |
| Current liabilities and other current assets | $100.0m | $48.0m | $100.0m | ($59.0m) | $36.0m | $193.0m | ($33.0m) | ($40.0m) | $5.0m | ($12.0m) | |
| Assets and liabilities - related parties | $6.0m | $63.0m | ($50.0m) | ($163.0m) | $8.0m | $101.0m | $40.0m | $84.0m | $84.0m | $126.0m | |
| Deferred revenue | $10.0m | $33.0m | $39.0m | $100.0m | $112.0m | $88.0m | $108.0m | $107.0m | ($5.0m) | ($74.0m) | |
| All other, net | $3.0m | ($12.0m) | ($11.0m) | ($13.0m) | ($10.0m) | ($2.0m) | ($4.0m) | ($2.0m) | ($6.0m) | ($5.0m) | |
| Acquisitions, net of cash acquired | $0 | ($249.0m) | ($451.0m) | — | $0 | $0 | ($28.0m) | ($246.0m) | ($622.0m) | ($3.3b) | |
| Disposal of assets | $1.0m | $7.0m | $8.0m | $30.0m | $56.0m | $126.0m | $84.0m | $26.0m | $1.0m | $975.0m | |
| Investments - acquisitions and contributions | — | — | — | — | — | — | $217.0m | $98.0m | $464.0m | $1.0b | |
| Long-term debt borrowings | $434.0m | $2.9b | $13.2b | $9.2b | $6.8b | $4.2b | $3.4b | $1.6b | $1.6b | $6.5b | |
| Related party debt borrowings | $2.5b | $2.4b | $4.0b | $9.3b | $6.3b | $8.5b | $3.0b | $0 | $0 | $50.0m | |
| Unit repurchases | — | — | $0 | $0 | ($33.0m) | ($630.0m) | ($491.0m) | $0 | ($326.0m) | ($400.0m) | |
| Redemption of Series B preferred units | — | — | — | — | — | $0 | $0 | ($600.0m) | $0 | $0 | |
| Distributions to Preferred Unitholders | ($25.0m) | ($65.0m) | ($71.0m) | — | ($122.0m) | ($141.0m) | ($126.0m) | ($115.0m) | ($44.0m) | ($6.0m) | |
| Distributions to LP unitholders | ($845.0m) | ($1.1b) | ($1.8b) | ($2.4b) | ($2.9b) | ($3.4b) | ($2.9b) | ($3.2b) | ($3.6b) | ($4.0b) | |
| Contributions from MPC | $225.0m | $0 | $0 | $74.0m | $50.0m | $45.0m | $44.0m | $31.0m | $35.0m | $24.0m | |
| Derivative, Gain (Loss) on Derivative, Net | — | — | — | — | — | — | — | ($4.0m) | ($9.0m) | $7.0m | |
| Net Cash Provided by (Used in) Operating Activities | $1.5b | $1.9b | $2.8b | $4.1b | $4.5b | $4.9b | $5.0b | $5.4b | $5.9b | $5.9b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $1.3b | $1.4b | $1.9b | $2.4b | $1.2b | $529.0m | $806.0m | $937.0m | $1.1b | $1.8b | |
| Payments to Acquire Businesses, Net of Cash Acquired | $0 | $249.0m | $451.0m | — | — | — | $28.0m | $246.0m | $622.0m | $3.3b | |
| Investments - redemptions, repayments, return of capital and sales proceeds | $0 | $26.0m | $16.0m | $18.0m | $123.0m | $36.0m | $11.0m | $3.0m | $146.0m | $293.0m | |
| Payments for (Proceeds from) Other Investing Activities | ($3.0m) | ($1.0m) | ($1.0m) | ($4.0m) | ($8.0m) | $0 | $0 | — | — | ($8.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($1.4b) | ($2.3b) | ($2.7b) | ($3.1b) | ($1.3b) | ($518.0m) | ($956.0m) | ($1.3b) | ($2.0b) | ($4.9b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $434.0m | $2.9b | $13.2b | $9.2b | — | — | $3.4b | $1.6b | $1.6b | $6.5b | |
| Debt issuance costs | $0 | ($29.0m) | ($76.0m) | ($20.0m) | ($25.0m) | $0 | ($29.0m) | ($15.0m) | ($15.0m) | ($63.0m) | |
| Repayments of Long-term Debt | $1.3b | $416.0m | $6.8b | $7.9b | — | — | $2.2b | $1.0b | $1.2b | $2.5b | |
| Long-term debt repayments | ($1.3b) | ($416.0m) | ($6.8b) | ($7.9b) | $6.4b | $5.8b | $2.2b | $1.0b | $1.2b | $2.5b | |
| Related party debt repayments | ($2.5b) | ($2.0b) | ($4.3b) | ($8.7b) | ($6.9b) | ($7.0b) | ($4.4b) | $0 | $0 | ($50.0m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | $33.0m | $630.0m | $491.0m | $0 | $326.0m | $400.0m | |
| Proceeds from Noncontrolling Interests | $6.0m | $129.0m | $11.0m | $95.0m | $0 | $0 | — | — | — | — | |
| Distributions to noncontrolling interests | ($3.0m) | ($7.0m) | ($17.0m) | ($30.0m) | ($37.0m) | ($39.0m) | ($38.0m) | ($41.0m) | ($44.0m) | ($44.0m) | |
| Proceeds from (Payments for) Other Financing Activities | ($6.0m) | ($12.0m) | ($11.0m) | ($13.0m) | ($10.0m) | ($2.0m) | ($4.0m) | ($2.0m) | ($6.0m) | ($5.0m) | |
| Net Cash Provided by (Used in) Financing Activities | $113.0m | $171.0m | ($73.0m) | ($1.1b) | ($3.3b) | ($4.4b) | ($3.8b) | ($3.3b) | ($3.5b) | ($435.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $76.0m | $15.0m | $15.0m | $13.0m | $238.0m | $1.0b | $1.5b | $2.1b | |
| Net change in cash, cash equivalents and restricted cash | — | ($230.0m) | $67.0m | ($70.0m) | $0 | ($2.0m) | $225.0m | $810.0m | $471.0m | $618.0m | |
| Cash, cash equivalents and restricted cash at beginning of period | — | $9.0m | $76.0m | $15.0m | $15.0m | $13.0m | $238.0m | $1.0b | $1.5b | $2.1b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $213.0m | $263.0m | $484.0m | $835.0m | $821.0m | $812.0m | $813.0m | $893.0m | $940.0m | $913.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.