Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

As of March 31, 2020, MPLX had no outstanding commodity contracts beyond the embedded derivative discussed below.

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The impact of MPLX’s derivative instruments on its Consolidated Balance Sheets is summarized below:

(In millions)	March 31, 2020					December 31, 2019
Derivative contracts not designated as hedging instruments and their balance sheet location	Asset		Liability			Asset		Liability
Commodity contracts(1)
Other current assets / Other current liabilities	$	—	$	(2	)	$	—	$	(5	)
Other noncurrent assets / Deferred credits and other liabilities	—		(43		)	—		(55		)
Total	$	—	$	(45	)	$	—	$	(60	)

(1)

Includes embedded derivatives in commodity contracts as discussed above.

Derivative Instruments, Gain (Loss) [Table Text Block]

The impact of MPLX’s derivative contracts not designated as hedging instruments and the location of gains and losses recognized on the Consolidated Statements of Income is summarized below:

	Three Months Ended March 31,
(In millions)	2020			2019
Product sales
Realized (loss)/gain	$	—		$	—
Unrealized (loss)/gain	—			—
Product sales derivative (loss)/gain	—			—
Purchased product costs
Realized (loss)/gain	(1		)	(2		)
Unrealized gain/(loss)	15			(4		)
Purchased product costs derivative gain/(loss)	14			(6		)
Cost of revenues
Realized (loss)/gain	—			—
Unrealized (loss)/gain	—			—
Cost of revenues derivative (loss)/gain	—			—
Total derivative gain/(loss)	$	14		$	(6	)