Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The tables below present information about revenues and other income, capital expenditures and investments in unconsolidated affiliates as well as total assets for our reportable segments:

	Three Months Ended March 31,
(In millions)	2020			2019(1)
L&S
Service revenue	$	1,004		$	889
Rental income	242			335
Product related revenue	19			15
Income from equity method investments	50			45
Other income	51			12
Total segment revenues and other income(2)	1,366			1,296
Segment Adjusted EBITDA(3)	872			559
Capital expenditures	184			198
Investments in unconsolidated affiliates	54			7
G&P
Service revenue	536			528
Rental income	88			89
Product related revenue	222			276
(Loss)/income from equity method investments	(1,234		)	32
Other income	14			14
Total segment revenues and other (loss)/income(2)	(374		)	939
Segment Adjusted EBITDA(3)	422			371
Capital expenditures	134			306
Investments in unconsolidated affiliates	$	37		$	128

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

(2) Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $158 million and $153 million for the three months ended March 31, 2020 and 2019, respectively. Third party losses for the G&P segment were $425 million for the three months ended March 31, 2020 and third party revenues were $887 million for the three months ended March 31, 2019.

(3)

See below for the reconciliation from Segment Adjusted EBITDA to net income.

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

(In millions)	March 31, 2020		December 31, 2019
Segment assets
Cash and cash equivalents	$	57	$	15
L&S	20,891		20,810
G&P	16,058		19,605
Total assets	$	37,006	$	40,430

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]

The table below provides a reconciliation between net (loss)/income and Segment Adjusted EBITDA.

	Three Months Ended March 31,
(In millions)	2020			2019(1)
Reconciliation to Net (loss)/income:
L&S Segment Adjusted EBITDA	$	872		$	559
G&P Segment Adjusted EBITDA	422			371
Total reportable segments	1,294			930
Depreciation and amortization(2)	(325		)	(301		)
Benefit for income taxes	—			1
Amortization of deferred financing costs	(14		)	(7		)
Non-cash equity-based compensation	(5		)	(7		)
Impairment expense	(2,165		)	—
Net interest and other financial costs	(216		)	(217		)
(Loss)/income from equity method investments	(1,184		)	77
Distributions/adjustments related to equity method investments	(124		)	(122		)
Unrealized derivative gains/(losses)(3)	15			(4		)
Acquisition costs	—			(1		)
Other	(1		)	—
Adjusted EBITDA attributable to noncontrolling interests	9			7
Adjusted EBITDA attributable to Predecessor(4)	—			333
Net (loss)/income	$	(2,716	)	$	689

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

(2) Depreciation and amortization attributable to L&S was $138 million and $126 million for the three months ended March 31, 2020 and 2019, respectively. Depreciation and amortization attributable to G&P was $187 million and $175 million for the three months ended March 31, 2020 and 2019, respectively.

(3) MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded.

(4)

The adjusted EBITDA adjustments related to Predecessor are excluded from adjusted EBITDA attributable to MPLX LP prior to the Merger.