MPLX LP (MPLX) Financial Statements (2024 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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments238131515685
Cash and cash equivalents238131515685
Receivables1,4661,298452593706452
Inventory, net of allowances, customer advances and progress billings1481421181107765
Inventory1481421181107765
Disposal group, including discontinued operation   188   
Other current assets  651104637
Other undisclosed current assets5354677656  
Total current assets:1,9051,5071,5151,484897559
Noncurrent Assets
Operating lease, right-of-use asset  309365
Property, plant and equipment 20,04221,21822,14514,63912,187
Long-term investments and receivables5,3205,1424,0365,2754,1984,030
Due from related parties1,2251,161  2420
Long-term investments4,0953,9814,0365,2754,1744,010
Intangible assets, net (including goodwill)8,3508,4888,61610,8063,0102,698
Goodwill7,6457,6577,6579,5362,5862,245
Intangible assets, net (excluding goodwill)7058319591,270424453
Regulated entity, other noncurrent assets 102116106  
Other noncurrent assets9596048523526
Other undisclosed noncurrent assets19,131166556197  
Total noncurrent assets:33,76034,00034,89938,94621,88218,941
TOTAL ASSETS:35,66535,50736,41440,43022,77919,500
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities493535346429412420
Taxes payable    38
Accounts payable224172152242162151
Accrued liabilities269363194187250231
Debt988499764911
Disposal group, including discontinued operation   101   
Deferred revenue and credits5
Due to related parties3431,780  203516
Other liabilities 1661761501368338
Other undisclosed current liabilities4113587251,558487324
Total current liabilities:2,4013,3482,0862,1321,1861,304
Noncurrent Liabilities
Long-term debt and lease obligation, including:18,80818,07219,37519,70413,3926,945
Other undisclosed long-term debt and lease obligation18,80818,07219,13119,40213,3926,945
Liabilities, other than long-term debt5576953262171347
Deferred revenue and credits42
Deferred revenue219383314217
Deferred tax liabilities, net135
Deferred income tax liabilities  1012 
Due to related parties338302    
Operating lease, liability  244302
Other undisclosed noncurrent liabilities385375642796320231
Total noncurrent liabilities:19,75019,14220,34320,71713,7257,223
Total liabilities:22,15122,49022,42922,84914,9118,527
Temporary equity, carrying amount 9659689681,0041,000
Equity
Equity, attributable to parent(8) (15)(15)(16) 
Accumulated other comprehensive loss(8) (15)(15)(16) 
Other undisclosed equity13,52212,05213,03216,6286,8809,973
Total equity:13,51412,05213,01716,6136,8649,973
TOTAL LIABILITIES AND EQUITY:35,66535,50736,41440,43022,77919,500

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues11,61310,0277,5699,0416,4253,867
Revenue, net2,322
Cost of revenue(6,333)(5,640)(4,778)(6,664)(3,922)(2,435)
Cost of goods and services sold(1,230)(1,287)   (1,179)
Gross profit:5,2804,3872,7912,3772,5031,432
Operating expenses(369)(395)(2,580)  (241)
Operating income:4,9113,9922112,3772,5031,191
Nonoperating expense
(Other Nonoperating expense)
  (86)(62)(53)(122)(56)
Interest and debt expense(82) (61)(42)(59)(53)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:4,8293,906882,2822,3221,082
Other undisclosed loss from continuing operations before income taxes(843)(793)(773)(820)(480)(245)
Income (loss) from continuing operations before income taxes:3,9863,113(685)1,4621,842837
Income tax expense(8)(1)(2) (8)(1)
Income (loss) from continuing operations:3,9783,112(687)1,4621,834836
Income (loss) before gain (loss) on sale of properties:3,112(687)1,4621,834836
Net income (loss):3,9783,112(687)1,4621,834836
Net loss attributable to noncontrolling interest(34)(35)(33)(28)(16)(6)
Other undisclosed net loss attributable to parent    (401) (36)
Net income (loss) attributable to parent:3,9443,077(720)1,0331,818794
Preferred stock dividends and other adjustments      
Undistributed earnings (loss) allocated to participating securities, basic (835)4963,7141,725242494
Other undisclosed net loss available to common stockholders, basic      
Net income available to common stockholders, diluted:3,1093,5732,9942,7582,0601,288

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):3,9783,112(687)1,4621,834836
Other comprehensive income (loss) 9  1(2) 
Other undisclosed comprehensive income (loss) (2)    
Comprehensive income (loss):3,9873,110(687)1,4631,832836
Comprehensive loss, net of tax, attributable to noncontrolling interest(34)(35)(33)(28)(16)(6)
Other undisclosed comprehensive loss, net of tax, attributable to parent    (401)  
Comprehensive income (loss), net of tax, attributable to parent:3,9533,075(720)1,0341,816830

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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