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 investments | 13 | 58 | 218 | 176 | 15 | 29 | 17 | ||
| Cash and cash equivalents | 13 | 58 | 218 | 176 | 15 | 29 | 17 | ||
| Net investment in lease | 1 | 1 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Receivables | 109 | 125 | 104 | 139 | 106 | 97 | 100 | ||
| Inventory, net of allowances, customer advances and progress billings | 167 | 184 | 186 | 182 | 134 | 131 | 158 | ||
| Inventory | 167 | 184 | 186 | 182 | 134 | 131 | 158 | ||
| Derivative instruments and hedges, assets | 55 | 39 | 87 | ||||||
| Other current assets | 44 | 40 | 58 | 63 | 40 | 43 | 34 | ||
| Other undisclosed current assets | 70 | 50 | 25 | 51 | 76 | 6 | |||
| Total current assets: | 405 | 459 | 646 | 612 | 370 | 339 | 403 | ||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 28 | 43 | |||||||
| Operating lease, right-of-use asset | 166 | 172 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Net investment in lease | 12 | ✕ | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 6,262 | 6,404 | 5,798 | 5,553 | 5,276 | 4,819 | 4,329 | ||
| Long-term investments and receivables, including: | 1,237 | 21 | 21 | 28 | 24 | 20 | 29 | ||
| Long-term investments | 1,214 | 1,241 | 1,076 | 1,083 | 931 | 766 | 614 | ||
| Accounts and financing receivable, after allowance for credit loss | 23 | ||||||||
| Other undisclosed long-term investments and receivables | (1,220) | (1,055) | (1,055) | (907) | (745) | (585) | |||
| Intangible assets, net (including goodwill) | 98 | 101 | 104 | 106 | 105 | 55 | 58 | ||
| Goodwill | 53 | 53 | 53 | 53 | 53 | 53 | 53 | ||
| Intangible assets, net (excluding goodwill) | 45 | 48 | 51 | 53 | 52 | 2 | 5 | ||
| Restricted cash and investments | 9 | 27 | 91 | ||||||
| Deferred costs | 18 | ||||||||
| Other noncurrent assets | 20 | 13 | 10 | 13 | 66 | 15 | 24 | ||
| Other undisclosed noncurrent assets | 1,229 | 1,076 | 1,083 | 931 | 766 | 614 | |||
| Total noncurrent assets: | 7,792 | 7,978 | 7,101 | 6,783 | 6,402 | 5,703 | 5,115 | ||
| TOTAL ASSETS: | 8,197 | 8,438 | 7,748 | 7,394 | 6,772 | 6,042 | 5,517 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 300 | 383 | 338 | 309 | 225 | 239 | 238 | ||
| Accounts payable | 100 | 151 | 139 | 105 | 77 | 104 | 97 | ||
| Accrued liabilities | 79 | 91 | 75 | 96 | 52 | 31 | 44 | ||
| Employee-related liabilities | 52 | 76 | 70 | 56 | 46 | 52 | 48 | ||
| Taxes payable | 68 | 66 | 53 | 51 | 50 | 52 | 48 | ||
| Deferred revenue | 99 | 110 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 26 | 59 | 251 | 250 | |||||
| Derivative instruments and hedges, liabilities | 22 | 10 | 26 | 31 | 5 | ||||
| Accrued environmental loss contingencies | 9 | 6 | 10 | 16 | 11 | ||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 118 | 102 | 82 | 71 | ||
| Other liabilities | 51 | 73 | 49 | 57 | 48 | 51 | 81 | ||
| Other undisclosed current liabilities | 87 | 64 | 222 | 71 | 66 | 76 | 130 | ||
| Total current liabilities: | 559 | 667 | 677 | 837 | 482 | 713 | 536 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 5,116 | 4,850 | 4,211 | 4,274 | 4,087 | 3,189 | 2,983 | ||
| Long-term debt, excluding current maturities | 4,979 | 4,706 | 4,211 | 4,274 | 4,087 | 3,189 | 2,983 | ||
| Operating lease, liability | 137 | 144 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt | 218 | 206 | 216 | 155 | 111 | 117 | 130 | ||
| Liability, pension and other postretirement and postemployment benefits | 164 | 146 | 123 | 111 | 71 | 78 | 75 | ||
| Accrued environmental loss contingencies | 11 | 13 | 14 | 16 | 26 | ||||
| Other liabilities | 55 | 60 | 82 | 30 | 26 | 24 | 29 | ||
| Total noncurrent liabilities: | 5,335 | 5,056 | 4,428 | 4,428 | 4,198 | 3,307 | 3,113 | ||
| Total liabilities: | 5,893 | 5,723 | 5,104 | 5,265 | 4,680 | 4,020 | 3,649 | ||
| 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 equity | 2,487 | 2,877 | 2,764 | 2,267 | 2,193 | 2,118 | 1,950 | ||
| TOTAL LIABILITIES AND EQUITY: | 8,197 | 8,438 | 7,748 | 7,394 | 6,772 | 6,042 | 5,517 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,428 | 2,728 | 2,827 | 2,508 | 2,205 | 2,188 | 2,304 | |
| Revenue, net | ✕ | ✕ | ✕ | 2,508 | 2,205 | 2,188 | 2,304 | |
| 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: | 1,054 | 1,228 | 1,208 | 1,097 | 1,004 | 1,048 | 1,127 | |
| Operating expenses | (173) | (197) | (194) | (166) | (148) | (151) | (173) | |
| Other operating income, net | 0 | 3 | ||||||
| Other undisclosed operating income | 153 | 169 | 181 | 121 | 79 | 66 | 19 | |
| Operating income: | 1,034 | 1,204 | 1,195 | 1,053 | 935 | 964 | 974 | |
| Nonoperating income (expense) | (4) | (9) | (11) | (3) | 38 | 2 | (7) | |
| Investment income, nonoperating | 1 | 3 | 3 | 1 | 30 | 1 | 2 | |
| Other nonoperating income (expense) | (5) | (12) | (14) | (4) | 8 | 1 | (9) | |
| Interest and debt expense | (234) | (221) | (221) | (211) | (194) | (159) | (146) | |
| Income from continuing operations before equity method investments, income taxes: | 796 | 974 | 963 | 839 | 779 | 807 | 821 | |
| Income from equity method investments | 79 | 66 | 19 | |||||
| Other undisclosed income from continuing operations before income taxes | 24 | 48 | 371 | 34 | ||||
| Income from continuing operations before income taxes: | 820 | 1,022 | 1,334 | 873 | 857 | 873 | 841 | |
| Income tax expense | (3) | (1) | (0) | (4) | ||||
| Net income available to common stockholders, diluted: | 817 | 1,021 | 1,334 | 870 | 857 | 873 | 841 | |
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: | 817 | 1,021 | 1,334 | 870 | 857 | 873 | 841 | |
| Comprehensive income: | 817 | 1,021 | 1,334 | 870 | 857 | 873 | 841 | |
| 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: | 796 | 979 | 1,351 | 833 | 798 | 804 | 777 | |
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.