Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Summarized Balance Sheet Information of VIEs

The assets of MPLX and ANDX can only be used to settle their own obligations and their creditors have no recourse to our assets. The following table present balance sheet information for the assets and liabilities of MPLX and ANDX, which are included in our balance sheets.



	December 31, 2018				December 31, 2017
(In millions)	MPLX		ANDX^(a)		MPLX
Assets
Cash and cash equivalents	$	68	$	10	$	5
Receivables, less allowance for doubtful accounts	425		199		299
Inventories	77		22		65
Other current assets	45		57		29
Equity method investments	4,174		602		4,010
Property, plant and equipment, net	14,639		6,845		12,187
Goodwill	2,586		1,051		2,245
Other noncurrent assets	458		1,242		479
Liabilities
Accounts payable	$	776	$	215	$	621
Payroll and benefits payable	2		10		1
Accrued taxes	48		23		38
Debt due within one year	1		504		1
Other current liabilities	177		77		130
Long-term debt	13,392		4,469		6,945
Deferred income taxes	13		1		5
Defined benefit postretirement plan obligations	—		—		—
Deferred credits and other liabilities	276		68		230


^(a)	The balances reflected here are ANDX’s historical balances as the preliminary purchase accounting adjustments related to ANDX’s assets and liabilities in connection with the Andeavor acquisition and reflected on our consolidated balance sheet as of December 31, 2018 have not yet been pushed down to this subsidiary.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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