MAGELLAN MIDSTREAM PARTNERS, L.P. Financial Statements (2024 and earlier)

Company Profile

Business Address ONE WILLIAMS CENTER, MD 28-1
TULSA, OK 74172
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 461 - Pipelines, Except Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments221358218176
Cash and cash equivalents221358218176
Net investment in lease, before allowance for credit loss 1111
Receivables220135109125104139
Inventory, net of allowances, customer advances and progress billings356281167184186182
Inventory356281167184186182
Derivative instruments and hedges, assets71  55 
Disposal group, including discontinued operation10300    
Other current assets574344405863
Other undisclosed current assets588070502551
Total current assets:711843405459646612
Noncurrent Assets
Operating lease, right-of-use asset149174166172
Net investment in lease, before allowance for credit loss    12
Property, plant and equipment5,8305,9056,2626,4045,7985,553
Long-term investments and receivables, including:9029911,237212128
Long-term investments8949811,2141,2411,0761,083
Accounts and financing receivable, after allowance for credit loss81023   
Other undisclosed long-term investments and receivables    (1,220)(1,055)(1,055)
Intangible assets, net (including goodwill)919398101104106
Goodwill505053535353
Intangible assets, net (excluding goodwill)414345485153
Restricted cash and investments 5792791 
Other noncurrent assets191720131013
Other undisclosed noncurrent assets    1,2291,0761,083
Total noncurrent assets:6,9977,1877,7927,9787,1016,783
TOTAL ASSETS:7,7088,0308,1978,4387,7487,394
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities480414300383338309
Taxes payable7768665351
Employee-related liabilities7552767056
Accounts payable108110100151139105
Accrued liabilities37215479917596
Deferred revenue1049399110
Debt    2659251
Derivative instruments and hedges, liabilities15192210 26
Accrued environmental loss contingencies     96
Disposal group, including discontinued operation  16    
Other liabilities365451734957
Deferred revenue and credits118
Other undisclosed current liabilities9085876422271
Total current liabilities:726680559667677837
Noncurrent Liabilities
Long-term debt and lease obligation5,0155,2365,1164,8504,2114,274
Long-term debt, excluding current maturities5,0155,0894,9794,7064,2114,274
Liabilities, other than long-term debt282218218206216155
Liability, pension and other postretirement and postemployment benefits87145164146123111
Accrued environmental loss contingencies     1113
Disposal group, including discontinued operation, liabilities  4    
Other liabilities787055608230
Operating lease, liability117147137144
Total noncurrent liabilities:5,2975,4545,3355,0564,4284,428
Total liabilities:6,0236,1345,8935,7235,1045,265
Equity
Equity, attributable to parent(94)(155)(183)(162)(120)(138)
Accumulated other comprehensive loss(94)(155)(183)(162)(120)(138)
Total equity:(94)(155)(183)(162)(120)(138)
Other undisclosed liabilities and equity1,7792,0512,4872,8772,7642,267
TOTAL LIABILITIES AND EQUITY:7,7088,0308,1978,4387,7487,394

Income Statement (P&L) ($ in millions)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues3,2002,7332,4282,7282,8272,508
Revenue, net2,508
Cost of revenue(2,004)(1,578)(1,374)(1,499)(1,619)(1,410)
Cost of goods and services sold(2,004)(1,578)(1,115)(619)(704)(1,214)
Gross profit:1,1961,1561,0541,2281,2081,097
Operating expenses(241)(206)(173)(197)(194)(166)
Other operating income, net5303  
Other undisclosed operating income147154153169181121
Operating income:1,1081,1061,0341,2041,1951,053
Nonoperating expense(19)(20)(4)(9)(11)(3)
Investment income, nonoperating111331
Other nonoperating expense(20)(21)(5)(12)(14)(4)
Interest and debt expense(230)(228)(234)(221)(221)(211)
Income from continuing operations before equity method investments, income taxes:859858796974963839
Other undisclosed income from continuing operations before income taxes377244837134
Income from continuing operations before income taxes:8629358201,0221,334873
Income tax expense(3)(2)(3)(1)(0)(4)
Income from continuing operations:8599328171,0211,334870
Income before gain (loss) on sale of properties:9828171,0211,334870
Income from discontinued operations17750    
Net income available to common stockholders, diluted:1,0369828171,0211,334870

Comprehensive Income ($ in millions)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:1,0369828171,0211,334870
Other comprehensive income 6128    
Other undisclosed comprehensive income      
Comprehensive income:1,0981,0108171,0211,334870
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  (21)(42)17(36)
Comprehensive income, net of tax, attributable to parent:1,0981,0107969791,351833

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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