Equity Method Investments (Tables)

6 Months Ended

Jun. 30, 2020

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



	Ownership as of	Carrying value at
	June 30,	June 30,		December 31,
(In millions, except ownership percentages)	2020	2020		2019
L&S
MarEn Bakken Company LLC⁽¹⁾	25%	$	477	$	481
Illinois Extension Pipeline Company, L.L.C.	35%	268		265
LOOP LLC	41%	242		238
Andeavor Logistics Rio Pipeline LLC⁽²⁾	67%	196		202
Minnesota Pipe Line Company, LLC	17%	190		190
Whistler Pipeline LLC⁽²⁾	38%	188		134
Explorer Pipeline Company	25%	79		83
W2W Holdings LLC⁽²⁾⁽³⁾	50%	77		—
Wink to Webster Pipeline LLC⁽²⁾⁽³⁾	15%	—		126
Other⁽²⁾		60		55
Total L&S		1,777		1,774
G&P
MarkWest Utica EMG, L.L.C.⁽²⁾	57%	725		1,984
Sherwood Midstream LLC⁽²⁾	50%	560		537
MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C.⁽²⁾	67%	308		302
Rendezvous Gas Services, L.L.C.⁽²⁾	78%	166		170
Sherwood Midstream Holdings LLC⁽²⁾	51%	152		157
Centrahoma Processing LLC	40%	151		153
Other⁽²⁾		226		198
Total G&P		2,288		3,501
Total		$	4,065	$	5,275


(1)	The investment in MarEn Bakken Company LLC includes our 9.19 percent indirect interest in a joint venture (“Dakota Access”) that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system or DAPL.


(2)	Investments deemed to be VIEs. Some investments included within “Other” have also been deemed to be VIEs.


(3)	During the six months ended June 30, 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 six months ended June 30, 2020 and 2019 is as follows:



	Six Months Ended June 30, 2020
(In millions)	VIEs			Non-VIEs		Total
Revenues and other income	$	(43	)	$	640	$	597
Costs and expenses	202			274		476
Income from operations	(245		)	366		121
Net income	(283		)	332		49
(Loss)/income from equity method investments⁽¹⁾	$	(1,178	)	$	83	$	(1,095	)


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



	Six Months Ended June 30, 2019⁽¹⁾
(In millions)	VIEs		Non-VIEs		Total
Revenues and other income	$	306	$	724	$	1,030
Costs and expenses	159		295		454
Income from operations	147		429		576
Net income	127		383		510
Income from equity method investments⁽²⁾	$	54	$	106	$	160


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


(2)	Includes the impact of any basis differential amortization or accretion.

Summarized balance sheet information for MPLX’s equity method investments as of June 30, 2020 and December 31, 2019 is as follows: