MPLX LP (MPLX) financial statements (2022 and earlier)
Company profile
| Business Address |
200 E. HARDIN STREET FINDLAY, OH 45840 |
| State of Incorp. | |
| 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)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 13 | 15 | 15 | 68 | 5 | 234 | 43 | ||
| Cash and cash equivalents | 13 | 15 | 15 | 68 | 5 | 234 | 43 | ||
| Receivables | 1,298 | 452 | 593 | 706 | 452 | 419 | 332 | ||
| Inventory, net of allowances, customer advances and progress billings | 142 | 118 | 110 | 77 | 65 | 54 | 49 | ||
| Inventory | 142 | 118 | 110 | 77 | 65 | 54 | 49 | ||
| Disposal group, including discontinued operation | 188 | ||||||||
| Other current assets | 65 | 110 | 46 | 37 | 33 | 50 | |||
| Other undisclosed current assets | 54 | 677 | 656 | ||||||
| Total current assets: | 1,507 | 1,515 | 1,484 | 897 | 559 | 740 | 474 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 309 | 365 | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 20,042 | 21,218 | 22,145 | 14,639 | 12,187 | 10,730 | 9,683 | ||
| Long-term investments and receivables | 5,142 | 4,036 | 5,275 | 4,198 | 4,030 | 2,471 | 2,483 | ||
| Long-term investments | 3,981 | 4,036 | 5,275 | 4,174 | 4,010 | 2,467 | 2,458 | ||
| Due from related parties | 1,161 | 24 | 20 | 4 | 25 | ||||
| Intangible assets, net (including goodwill) | 8,488 | 8,616 | 10,806 | 3,010 | 2,698 | 2,691 | 3,025 | ||
| Goodwill | 7,657 | 7,657 | 9,536 | 2,586 | 2,245 | 2,199 | 2,559 | ||
| Intangible assets, net (excluding goodwill) | 831 | 959 | 1,270 | 424 | 453 | 492 | 466 | ||
| Regulated entity, other noncurrent assets | 102 | 116 | 106 | ||||||
| Other noncurrent assets | 60 | 48 | 52 | 35 | 26 | 14 | 12 | ||
| Other undisclosed noncurrent assets | 166 | 556 | 197 | ||||||
| Total noncurrent assets: | 34,000 | 34,899 | 38,946 | 21,882 | 18,941 | 15,906 | 15,203 | ||
| TOTAL ASSETS: | 35,507 | 36,414 | 40,430 | 22,779 | 19,500 | 16,646 | 15,677 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 535 | 346 | 429 | 412 | 420 | 384 | 301 | ||
| Accounts payable | 172 | 152 | 242 | 162 | 151 | 123 | 89 | ||
| Accrued liabilities | 363 | 194 | 187 | 250 | 231 | 228 | 186 | ||
| Taxes payable | 38 | 33 | 26 | ||||||
| Debt | 499 | 764 | 9 | 1 | 1 | 1 | 1 | ||
| Due to related parties | 1,780 | 203 | 516 | 75 | 47 | ||||
| Disposal group, including discontinued operation | 101 | ||||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 5 | 2 | |||
| Other liabilities | 176 | 150 | 136 | 83 | 38 | 24 | 12 | ||
| Other undisclosed current liabilities | 358 | 725 | 1,558 | 487 | 324 | 218 | 251 | ||
| Total current liabilities: | 3,348 | 2,086 | 2,132 | 1,186 | 1,304 | 704 | 612 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 18,072 | 19,375 | 19,704 | 13,392 | 6,945 | 4,422 | 5,255 | ||
| Operating lease, liability | 244 | 302 | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed long-term debt and lease obligation | 18,072 | 19,131 | 19,402 | 13,392 | 6,945 | 4,422 | 5,255 | ||
| Liabilities, other than long-term debt | 695 | 326 | 217 | 13 | 47 | 17 | 381 | ||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 42 | 12 | 4 | ||
| Deferred revenue | 383 | 314 | 217 | ✕ | ✕ | ✕ | ✕ | ||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | 13 | 5 | 5 | 377 | ||
| Deferred income tax liabilities | 10 | 12 | ✕ | ✕ | ✕ | ✕ | |||
| Due to related parties | 302 | ||||||||
| Other undisclosed noncurrent liabilities | 375 | 642 | 796 | 320 | 231 | 184 | 175 | ||
| Total noncurrent liabilities: | 19,142 | 20,343 | 20,717 | 13,725 | 7,223 | 4,623 | 5,811 | ||
| Total liabilities: | 22,490 | 22,429 | 22,849 | 14,911 | 8,527 | 5,327 | 6,423 | ||
| Temporary equity, carrying amount | 965 | 968 | 968 | 1,004 | 1,000 | 1,000 | |||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | (15) | (15) | (16) | 9,254 | |||||
| Accumulated other comprehensive loss | (15) | (15) | (16) | ||||||
| Other undisclosed stockholders' equity attributable to parent | 9,254 | ||||||||
| Other undisclosed stockholders' equity | 12,052 | 13,032 | 16,628 | 6,880 | 9,973 | 10,319 | |||
| Total stockholders' equity: | 12,052 | 13,017 | 16,613 | 6,864 | 9,973 | 10,319 | 9,254 | ||
| TOTAL LIABILITIES AND EQUITY: | 35,507 | 36,414 | 40,430 | 22,779 | 19,500 | 16,646 | 15,677 | ||
Income statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 10,027 | 7,569 | 9,041 | 6,425 | 3,867 | 2,590 | 703 | |
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 2,322 | 1,828 | 186 | |
| Cost of revenue | (5,640) | (4,778) | (6,664) | (3,922) | (2,435) | (1,760) | (393) | |
| Cost of goods and services sold | (1,287) | (1,179) | (802) | (192) | ||||
| Gross profit: | 4,387 | 2,791 | 2,377 | 2,503 | 1,432 | 830 | 310 | |
| Operating expenses | (395) | (2,580) | (241) | (323) | (104) | |||
| Operating income: | 3,992 | 211 | 2,377 | 2,503 | 1,191 | 507 | 206 | |
| Nonoperating expense (Other Nonoperating expense) | (86) | (62) | (53) | (122) | (56) | (50) | (12) | |
| Interest and debt expense | (61) | (42) | (59) | (53) | (46) | |||
| Income from continuing operations before equity method investments, income taxes: | 3,906 | 88 | 2,282 | 2,322 | 1,082 | 411 | 194 | |
| Other undisclosed loss from continuing operations before income taxes | (793) | (773) | (820) | (480) | (245) | (165) | (35) | |
| Income (loss) from continuing operations before income taxes: | 3,113 | (685) | 1,462 | 1,842 | 837 | 246 | 159 | |
| Income tax expense (benefit) | (1) | (2) | (8) | (1) | 12 | (2) | ||
| Net income (loss): | 3,112 | (687) | 1,462 | 1,834 | 836 | 258 | 157 | |
| Net loss attributable to noncontrolling interest | (35) | (33) | (28) | (16) | (6) | (2) | (1) | |
| Other undisclosed net loss attributable to parent | (401) | (36) | (23) | |||||
| Net income (loss) attributable to parent: | 3,077 | (720) | 1,033 | 1,818 | 794 | 233 | 156 | |
| Undistributed earnings (loss) allocated to participating securities, basic | 496 | 3,714 | 1,725 | 242 | 494 | ✕ | ✕ | |
| Net income available to common stockholders, diluted: | 3,573 | 2,994 | 2,758 | 2,060 | 1,288 | 233 | 156 | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 3,112 | (687) | 1,462 | 1,834 | 836 | 258 | 157 | |
| Other comprehensive income (loss) | 1 | (2) | ||||||
| Other undisclosed comprehensive loss | (2) | |||||||
| Comprehensive income (loss): | 3,110 | (687) | 1,463 | 1,832 | 836 | 258 | 157 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (35) | (33) | (28) | (16) | (6) | (2) | (1) | |
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (401) | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 3,075 | (720) | 1,034 | 1,816 | 830 | 256 | 156 | |
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.