MPLX LP (MPLXP) Financial Statements (2026 and earlier)

Company Profile

Business Address 200 E. HARDIN STREET
FINDLAY, OH 45840
State of Incorp.
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)
Annual | Quarterly

3/31/2026
MRQ
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,1371,5191,0482381315
Cash and cash equivalent2,1371,5191,0482381315
Net investment in lease, before allowance for credit loss 377306251   
Receivables7357188231,4661,298452
Inventory, net of allowances, customer advances and progress billings172180159148142118
Inventory172180159148142118
Disposal group, including discontinued operation      188
Other current assets512930  65
Other undisclosed current assets5225244975354677
Total current assets:3,9943,2762,8081,9051,5071,515
Noncurrent Assets
Operating lease, right-of-use asset276273264  309
Property, plant, and equipment, after accumulated depreciation, depletion, and amortization    20,04221,218
Long-term investments and receivables4,7984,5313,7435,3205,1424,036
Due from related parties✕✕✕✕1,2251,161 
Long-term investments4,7984,5313,7434,0953,9814,036
Intangible asset, including goodwill, after accumulated amortization10,1528,1638,2998,3508,4888,616
Goodwill8,7557,6457,6457,6457,6577,657
Intangible asset, excluding goodwill, after accumulated amortization1,397518654705831959
Regulated entity, other noncurrent assets    102116
Other noncurrent assets1,1259949909596048
Other undisclosed noncurrent assets22,66020,27420,42519,131166556
Total noncurrent assets:39,01134,23533,72133,76034,00034,899
TOTAL ASSETS:43,00537,51136,52935,66535,50736,414
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities362442453493535346
Accounts payable108147153224172152
Accrued liabilities254295300269363194
Debt1,5021,6931,135988499764
Disposal group, including discontinued operation      101
Other liabilities    166176150
Due to related parties✕✕✕✕3431,780 
Other undisclosed current liabilities1,3851,1001,036411358725
Total current liabilities:3,2493,2352,6242,4013,3482,086
Noncurrent Liabilities
Long-term debt and lease obligation, including:24,15119,25519,29618,80818,07219,375
Other undisclosed long-term debt and lease obligation24,15119,25519,29618,80818,07219,131
Liabilities, other than long-term debt336534558557695326
Deferred revenue119317347219383314
Deferred income tax liabilities     1012
Due to related parties✕✕✕✕338302 
Operating lease, liability217217211  244
Other undisclosed noncurrent liabilities741477467385375642
Total noncurrent liabilities:25,22820,26620,32119,75019,14220,343
Total liabilities:28,47723,50122,94522,15122,49022,429
Temporary equity, including noncontrolling interest  203895 965968
Equity
Equity, attributable to parent5(3)(4)(8) (15)
Accumulated other comprehensive income (loss)5(3)(4)(8) (15)
Other undisclosed equity14,52313,81012,69313,52212,05213,032
Total equity:14,52813,80712,68913,51412,05213,017
TOTAL LIABILITIES AND EQUITY:43,00537,51136,52935,66535,50736,414

Income Statement (P&L) ($ in millions)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues12,99811,93311,28111,61310,0277,569
Cost of revenue(6,770)(6,215)(6,016)(6,333)(5,640)(4,778)
Cost of product and service sold(1,351)(1,283)(1,213)(1,230)(1,287) 
Gross profit:6,2285,7185,2655,2804,3872,791
Operating expenses(285)(430)(365)(369)(395)(2,580)
Operating income:5,9435,2884,9004,9113,992211
Nonoperating expense
(Other Nonoperating expense)		     (86)(62)
Interest and debt expense(983)(921) (82) (61)
Income from continuing operations before equity method investments, income taxes:4,9604,3674,9004,8293,90688
Other undisclosed loss from continuing operations before income taxes   (923)(843)(793)(773)
Income (loss) from continuing operations before income taxes:4,9604,3673,9773,9863,113(685)
Income tax expense(8)(10)(11)(8)(1)(2)
Income (loss) from continuing operations:4,9524,3573,9663,9783,112(687)
Income (loss) before gain (loss) on sale of properties:✕✕✕✕✕3,112(687)
Net income (loss):4,9524,3573,9663,9783,112(687)
Net loss attributable to noncontrolling interest(40)(40)(38)(34)(35)(33)
Net income (loss) attributable to parent:4,9124,3173,9283,9443,077(720)
Preferred stock dividends and other adjustments   (5)   
Undistributed earnings (loss) allocated to participating securities, basic(3)(7)(573)(835)4963,714
Other undisclosed net income (loss) available to common stockholders, basic  (29)573   
Net income available to common stockholders, diluted:4,9094,2813,9233,1093,5732,994

Comprehensive Income ($ in millions)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income (loss):4,9524,3573,9663,9783,112(687)
Other comprehensive income 8149  
Other undisclosed comprehensive loss     (2) 
Comprehensive income (loss):4,9604,3583,9703,9873,110(687)
Comprehensive loss, net of tax, attributable to noncontrolling interest(40)(40)(38)(34)(35)(33)
Comprehensive income (loss), net of tax, attributable to parent:4,9204,3183,9323,9533,075(720)

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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