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 investments13151568523443
Cash and cash equivalents13151568523443
Receivables1,298452593706452419332
Inventory, net of allowances, customer advances and progress billings14211811077655449
Inventory14211811077655449
Disposal group, including discontinued operation 188     
Other current assets 6511046373350
Other undisclosed current assets54677656    
Total current assets:1,5071,5151,484897559740474
Noncurrent Assets
Operating lease, right-of-use asset 309365
Property, plant and equipment20,04221,21822,14514,63912,18710,7309,683
Long-term investments and receivables5,1424,0365,2754,1984,0302,4712,483
Long-term investments3,9814,0365,2754,1744,0102,4672,458
Due from related parties1,161  2420425
Intangible assets, net (including goodwill)8,4888,61610,8063,0102,6982,6913,025
Goodwill7,6577,6579,5362,5862,2452,1992,559
Intangible assets, net (excluding goodwill)8319591,270424453492466
Regulated entity, other noncurrent assets102116106    
Other noncurrent assets60485235261412
Other undisclosed noncurrent assets166556197    
Total noncurrent assets:34,00034,89938,94621,88218,94115,90615,203
TOTAL ASSETS:35,50736,41440,43022,77919,50016,64615,677
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities535346429412420384301
Accounts payable17215224216215112389
Accrued liabilities363194187250231228186
Taxes payable    383326
Debt49976491111
Due to related parties1,780  2035167547
Disposal group, including discontinued operation 101     
Deferred revenue and credits52 
Other liabilities17615013683382412
Other undisclosed current liabilities3587251,558487324218251
Total current liabilities:3,3482,0862,1321,1861,304704612
Noncurrent Liabilities
Long-term debt and lease obligation, including:18,07219,37519,70413,3926,9454,4225,255
Operating lease, liability 244302
Other undisclosed long-term debt and lease obligation18,07219,13119,40213,3926,9454,4225,255
Liabilities, other than long-term debt695326217134717381
Deferred revenue and credits42124
Deferred revenue383314217
Deferred tax liabilities, net1355377
Deferred income tax liabilities1012 
Due to related parties302      
Other undisclosed noncurrent liabilities375642796320231184175
Total noncurrent liabilities:19,14220,34320,71713,7257,2234,6235,811
Total liabilities:22,49022,42922,84914,9118,5275,3276,423
Temporary equity, carrying amount9659689681,0041,0001,000 
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' equity12,05213,03216,6286,8809,97310,319 
Total stockholders' equity:12,05213,01716,6136,8649,97310,3199,254
TOTAL LIABILITIES AND EQUITY:35,50736,41440,43022,77919,50016,64615,677

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
Revenues10,0277,5699,0416,4253,8672,590703
Revenue, net2,3221,828186
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:4,3872,7912,3772,5031,432830310
Operating expenses(395)(2,580)  (241)(323)(104)
Operating income:3,9922112,3772,5031,191507206
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:3,906882,2822,3221,082411194
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)1,4621,842837246159
Income tax expense (benefit)(1)(2) (8)(1)12(2)
Net income (loss):3,112(687)1,4621,834836258157
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)1,0331,818794233156
Undistributed earnings (loss) allocated to participating securities, basic4963,7141,725242494
Net income available to common stockholders, diluted:3,5732,9942,7582,0601,288233156

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)1,4621,834836258157
Other comprehensive income (loss)  1(2)   
Other undisclosed comprehensive loss(2)      
Comprehensive income (loss):3,110(687)1,4631,832836258157
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)1,0341,816830256156

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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