Magellan Midstream Partners L.P. (MMP) financial statements (2020 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments581353132182172
Cash and cash equivalents581353132182172
Net investment in lease111 
Receivables125132140134104138107
Inventory, net of allowances, customer advances and progress billings184206173195186179184
Inventory184206173195186179184
Derivative instruments and hedges, assets 5  55  
Other current assets40463940586675
Other undisclosed current assets50435256257158
Total current assets:459568407438646672426
Noncurrent Assets
Operating lease, right-of-use asset172162167 
Net investment in lease121212 
Property, plant and equipment6,4046,2646,0905,9265,7985,7355,660
Long-term investments and receivables, including:21212121212424
Long-term investments1,2411,2061,1651,1291,0761,0051,210
Other undisclosed long-term investments and receivables(1,220)(1,185)(1,144)(1,108)(1,055)(982)(1,186)
Intangible assets, net (including goodwill)101102102103104105105
Goodwill53535353535353
Intangible assets, net (excluding goodwill)48494950515252
Restricted cash and investments275628379143102
Other noncurrent assets13132419101212
Other undisclosed noncurrent assets1,2291,1941,1531,3011,0761,0051,210
Total noncurrent assets:7,9787,8247,5987,4067,1016,9247,113
TOTAL ASSETS:8,4388,3928,0057,8457,7487,5967,538
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities383434352360338323276
Accounts payable151205180193139137125
Accrued liabilities911097694758064
Employee-related liabilities76574731705345
Taxes payable66634841535241
Deferred revenue110108112 
Debt262322 59553250
Derivative instruments and hedges, liabilities10 913 3227
Accrued environmental loss contingencies 8579115
Deferred revenue and credits120
Other liabilities73606155493834
Other undisclosed current liabilities64485818922217171
Total current liabilities:6676816186236771,127783
Noncurrent Liabilities
Long-term debt and lease obligation4,8504,8414,5554,2804,2113,7194,392
Long-term debt, excluding current maturities4,7064,7064,4084,2804,2113,7194,392
Operating lease, liability144136147 
Liabilities, other than long-term debt206196195177216203209
Liability, pension and other postretirement and postemployment benefits146132134125123125128
Accrued environmental loss contingencies 91212111312
Other liabilities60554940826470
Total noncurrent liabilities:5,0565,0374,7494,4564,4283,9214,601
Total liabilities:5,7235,7185,3685,0805,1045,0485,384
Stockholders' equity
Stockholders' equity attributable to parent(162)(148)(136)(123)(120)(118)(128)
Accumulated other comprehensive loss(162)(148)(136)(123)(120)(118)(128)
Total stockholders' equity:(162)(148)(136)(123)(120)(118)(128)
Other undisclosed liabilities and equity2,8772,8222,7742,8882,7642,6662,282
TOTAL LIABILITIES AND EQUITY:8,4388,3928,0057,8457,7487,5967,538

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

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
Revenues741657702629866638644
Revenue, net667
Cost of revenue(403)(335)(384)(377)(508)(349)(367)
Cost of goods and services sold(189)(109)(153)(169)(231)(121)(314)
Gross profit:337322317252358289277
Operating expenses(47)(51)(52)(46)(47)(47)(53)
Other operating income (expense), net1(0)(5)7   
Other undisclosed operating income47504131505443
Operating income:338320301244361296266
Nonoperating income (expense)(2)(2)(4)(0)(2)(1)0
Investment income, nonoperating1102210
Other nonoperating income (expense)(3)(3)(5)(2)(4)(2)0
Interest and debt expense(56)(54)(51)(60)(52)(55)(57)
Income from continuing operations before equity method investments, income taxes:281265245184306239210
Other undisclosed income from continuing operations before income taxes58102543576
Income from continuing operations before income taxes:285273255209310596216
Income tax expense (benefit)1(0)(1)(1)4(2)(1)
Net income available to common stockholders, diluted:286273254208314595214

Comprehensive Income ($ in millions)

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
Net income:286273254208314595214
Comprehensive income:286273254208314595214
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(14)(12)(13)(2)(2)95
Comprehensive income, net of tax, attributable to parent:272261240205312604219

Statements sources

The financial statements are based on the company's filings with the 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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