Magellan Midstream Partners L.P. (MMP) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1358218176152917
Cash and cash equivalents1358218176152917
Net investment in lease11
Receivables10912510413910697100
Inventory, net of allowances, customer advances and progress billings167184186182134131158
Inventory167184186182134131158
Derivative instruments and hedges, assets  55  3987
Other current assets44405863404334
Other undisclosed current assets7050255176 6
Total current assets:405459646612370339403
Noncurrent Assets
Inventory, Noncurrent     2843
Operating lease, right-of-use asset166172
Net investment in lease 12
Property, plant and equipment6,2626,4045,7985,5535,2764,8194,329
Long-term investments and receivables, including:1,237212128242029
Long-term investments1,2141,2411,0761,083931766614
Accounts and financing receivable, after allowance for credit loss23      
Other undisclosed long-term investments and receivables (1,220)(1,055)(1,055)(907)(745)(585)
Intangible assets, net (including goodwill)981011041061055558
Goodwill53535353535353
Intangible assets, net (excluding goodwill)454851535225
Restricted cash and investments92791    
Deferred costs      18
Other noncurrent assets20131013661524
Other undisclosed noncurrent assets 1,2291,0761,083931766614
Total noncurrent assets:7,7927,9787,1016,7836,4025,7035,115
TOTAL ASSETS:8,1978,4387,7487,3946,7726,0425,517
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities300383338309225239238
Accounts payable1001511391057710497
Accrued liabilities79917596523144
Employee-related liabilities52767056465248
Taxes payable68665351505248
Deferred revenue99110
Debt 2659251 250 
Derivative instruments and hedges, liabilities2210 2631 5
Accrued environmental loss contingencies  96101611
Deferred revenue and credits1181028271
Other liabilities51734957485181
Other undisclosed current liabilities8764222716676130
Total current liabilities:559667677837482713536
Noncurrent Liabilities
Long-term debt and lease obligation5,1164,8504,2114,2744,0873,1892,983
Long-term debt, excluding current maturities4,9794,7064,2114,2744,0873,1892,983
Operating lease, liability137144
Liabilities, other than long-term debt218206216155111117130
Liability, pension and other postretirement and postemployment benefits164146123111717875
Accrued environmental loss contingencies  1113141626
Other liabilities55608230262429
Total noncurrent liabilities:5,3355,0564,4284,4284,1983,3073,113
Total liabilities:5,8935,7235,1045,2654,6804,0203,649
Stockholders' equity
Stockholders' equity attributable to parent(183)(162)(120)(138)(101)(96)(82)
Accumulated other comprehensive loss(183)(162)(120)(138)(101)(96)(82)
Total stockholders' equity:(183)(162)(120)(138)(101)(96)(82)
Other undisclosed liabilities and equity2,4872,8772,7642,2672,1932,1181,950
TOTAL LIABILITIES AND EQUITY:8,1978,4387,7487,3946,7726,0425,517

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues2,4282,7282,8272,5082,2052,1882,304
Revenue, net2,5082,2052,1882,304
Cost of revenue(1,374)(1,499)(1,619)(1,410)(1,201)(1,140)(1,176)
Cost of goods and services sold(1,115)(619)(704)(1,214)(1,023)(973)(1,078)
Gross profit:1,0541,2281,2081,0971,0041,0481,127
Operating expenses(173)(197)(194)(166)(148)(151)(173)
Other operating income, net03     
Other undisclosed operating income153169181121796619
Operating income:1,0341,2041,1951,053935964974
Nonoperating income (expense)(4)(9)(11)(3)382(7)
Investment income, nonoperating13313012
Other nonoperating income (expense)(5)(12)(14)(4)81(9)
Interest and debt expense(234)(221)(221)(211)(194)(159)(146)
Income from continuing operations before equity method investments, income taxes:796974963839779807821
Income from equity method investments    796619
Other undisclosed income from continuing operations before income taxes244837134   
Income from continuing operations before income taxes:8201,0221,334873857873841
Income tax expense(3)(1)(0)(4)   
Net income available to common stockholders, diluted:8171,0211,334870857873841

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:8171,0211,334870857873841
Comprehensive income:8171,0211,334870857873841
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(21)(42)17(36)(59)(69)(63)
Comprehensive income, net of tax, attributable to parent:7969791,351833798804777

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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