Magellan Midstream Partners L.P. Limited Partnership (MMP) 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 thousands)

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,4002,0008,1004,6004,6002,000
Cash and cash equivalents7,4002,0008,1004,6004,6002,000
Net investment in lease, before allowance for credit loss  1,400   1,300
Receivables160,200219,900179,100140,300129,800135,200
Inventory, net of allowances, customer advances and progress billings326,600356,200348,800329,000308,200281,100
Inventory326,600356,200348,800329,000308,200281,100
Derivative instruments and hedges, assets7006,50056,9002,5003,1001,400
Disposal group, including discontinued operation9,9009,9009,900 304,000299,500
Other current assets39,90056,80070,10058,10035,70043,100
Other undisclosed current assets54,10057,80044,700135,000165,80079,600
Total current assets:598,800710,500717,600669,500951,200843,200
Noncurrent Assets
Operating lease, right-of-use asset142,900149,400155,700162,100168,300174,200
Property, plant and equipment5,820,6005,830,3005,851,9005,870,1005,886,5005,904,700
Long-term investments and receivables891,000902,300970,700974,400988,400990,900
Long-term investments882,100894,000961,900965,100978,600980,800
Accounts and financing receivable, after allowance for credit loss8,9008,3008,8009,3009,80010,100
Intangible assets, net (including goodwill)90,70091,40092,10092,80092,60093,300
Goodwill50,40050,40050,40050,40050,10050,100
Intangible assets, net (excluding goodwill)40,30041,00041,70042,40042,50043,200
Restricted cash and investments 4,6004,9005,8006,3006,7007,000
Other noncurrent assets18,50018,90020,50017,20017,30016,700
Total noncurrent assets:6,968,3006,997,2007,096,7007,122,9007,159,8007,186,800
TOTAL ASSETS:7,567,1007,707,7007,814,3007,792,4008,111,0008,030,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities388,600480,300611,400568,600320,200414,400
Taxes payable81,10063,60051,70076,500
Employee-related liabilities67,70058,00043,90074,900
Accounts payable126,900108,200134,400138,80098,000109,500
Accrued liabilities261,700372,100328,200308,200126,600153,500
Deferred revenue109,600103,900102,20085,900106,40092,500
Derivative instruments and hedges, liabilities4,30015,40035,80035,00050,50018,600
Disposal group, including discontinued operation     23,50015,800
Other liabilities34,50035,90035,40031,10054,50053,500
Other undisclosed current liabilities81,10090,000(68,000)(31,800)80,70084,800
Total current liabilities:618,100725,500716,800688,800635,800679,600
Noncurrent Liabilities
Long-term debt and lease obligation4,983,5005,015,0005,132,7005,135,2005,455,7005,236,100
Long-term debt, excluding current maturities4,983,5005,015,0005,011,4005,000,9005,317,2005,088,800
Liabilities, other than long-term debt284,100282,300213,900209,000222,200218,200
Liability, pension and other postretirement and postemployment benefits91,30087,400129,700140,000145,800145,000
Disposal group, including discontinued operation, liabilities     5,4003,700
Other liabilities80,50078,00084,20069,00071,00069,500
Operating lease, liability112,300116,900121,300134,300138,500147,300
Total noncurrent liabilities:5,267,6005,297,3005,346,6005,344,2005,677,9005,454,300
Total liabilities:5,885,7006,022,8006,063,4006,033,0006,313,7006,133,900
Equity
Equity, attributable to parent(92,600)(93,900)(141,200)(149,800)(152,900)(155,000)
Accumulated other comprehensive loss(92,600)(93,900)(141,200)(149,800)(152,900)(155,000)
Total equity:(92,600)(93,900)(141,200)(149,800)(152,900)(155,000)
Other undisclosed liabilities and equity1,774,0001,778,8001,892,1001,909,2001,950,2002,051,100
TOTAL LIABILITIES AND EQUITY:7,567,1007,707,7007,814,3007,792,4008,111,0008,030,000

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

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
Revenues869,700861,000876,100788,600674,700809,329
Cost of revenue(509,800)(593,100)(464,700)(521,200)(425,300)(497,775)
Cost of goods and services sold(454,000) (406,800)(462,400)(367,600) 
Gross profit:359,900267,900411,400267,400249,400311,554
Operating expenses(60,400)(63,000)(58,000)(56,900)(62,800)(57,629)
Other operating income (expense), net5,8003,1001,2003,000(2,000)(1,233)
Other undisclosed operating income26,20043,70041,80026,50035,40038,293
Operating income:331,500251,700396,400240,000220,000290,985
Nonoperating income (expense)400(7,800)(10,400)(400)(500)(2,728)
Investment income, nonoperating1,00060030020010061
Other nonoperating expense(600)(8,400)(10,700)(600)(600)(2,789)
Interest and debt expense(57,700)(57,400)(57,300)(57,800)(57,300)(57,124)
Income from continuing operations before equity method investments, income taxes:274,200186,500328,700181,800162,200231,133
Other undisclosed income from continuing operations before income taxes6001,2006003006002,527
Income from continuing operations before income taxes:274,800187,700329,300182,100162,800233,660
Income tax expense(900)(700)(900)(300)(800)(256)
Income from continuing operations:273,900187,000328,400181,800162,000233,404
Income before gain (loss) on sale of properties:330,000353,900165,500243,666
Income from discontinued operations   1,600172,1003,50010,262
Net income available to common stockholders, diluted:273,900187,000330,000353,900165,500243,666

Comprehensive Income ($ in thousands)

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
Net income:273,900187,000330,000353,900165,500243,666
Other undisclosed comprehensive income  61,100   28,200
Comprehensive income:273,900248,100330,000353,900165,500271,866
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,300(13,800)8,6003,1002,100(20,614)
Comprehensive income, net of tax, attributable to parent:275,200234,300338,600357,000167,600251,252

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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