Equity Method Investments (Tables)

3 Months Ended

Mar. 31, 2020

The following table presents MPLX’s equity method investments at the dates indicated:



	Ownership as of	Carrying value at
	March 31,	March 31,		December 31,
(In millions, except ownership percentages)	2020	2020		2019
L&S
MarEn Bakken Company LLC	25%	$	479	$	481
Illinois Extension Pipeline Company, L.L.C.	35%	271		265
LOOP LLC	41%	239		238
Andeavor Logistics Rio Pipeline LLC⁽¹⁾	67%	200		202
Minnesota Pipe Line Company, LLC	17%	190		190
Whistler Pipeline LLC⁽¹⁾	38%	163		134
W2W Holdings LLC⁽¹⁾⁽²⁾	50%	76		—
Wink to Webster Pipeline LLC⁽¹⁾⁽²⁾	15%	—		126
Explorer Pipeline Company	25%	81		83
Other⁽¹⁾		55		55
Total L&S		1,754		1,774
G&P
MarkWest Utica EMG, L.L.C.⁽¹⁾	57%	712		1,984
Sherwood Midstream LLC⁽¹⁾	50%	546		537
MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C.⁽¹⁾	67%	302		302
Rendezvous Gas Services, L.L.C.⁽¹⁾	78%	167		170
Sherwood Midstream Holdings LLC⁽¹⁾	52%	155		157
Centrahoma Processing LLC	40%	150		153
Other⁽¹⁾		206		198
Total G&P		2,238		3,501
Total		$	3,992	$	5,275


(1)	Investments deemed to be VIE’s. Some investments included within “Other” have also been deemed to be VIE’s.


(2)	During the three months ended March 31, 2020, we contributed our ownership in Wink to Webster Pipeline LLC to W2W Holdings LLC.

Summarized financial information for MPLX’s equity method investments for the three months ended March 31, 2020 and 2019 is as follows:



	Three Months Ended March 31, 2020
(In millions)	VIEs			Non-VIEs		Total
Revenues and other income	$	(217	)	$	337	$	120
Costs and expenses	104			132		236
Income from operations	(321		)	205		(116		)
Net income	(337		)	186		(151		)
(Loss)/income from equity method investments⁽¹⁾	$	(1,222	)	$	38	$	(1,184	)


(1)	Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million.



	Three Months Ended March 31, 2019⁽¹⁾
(In millions)	VIEs		Non-VIEs		Total
Revenues and other income	$	155	$	391	$	546
Costs and expenses	77		198		275
Income from operations	78		193		271
Net income	71		181		252
Income from equity method investments	$	27	$	50	$	77


(1)	Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3.

Summarized balance sheet information for MPLX’s equity method investments as of March 31, 2020 and December 31, 2019 is as follows: