MPLX LP

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

MPLX$56.80+1.6%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Income

MPLX LP

(In millions, except per unit data)	2023	2022	2021
Revenues and other income:
Service revenue	$2,539	$2,359	$2,313
Service revenue - related parties	3,985	3,754	3,628
Service revenue - product related	294	394	345
Rental income	243	327	376
Rental income - related parties	822	763	743
Product sales	1,665	2,219	1,590
Product sales - related parties	250	198	145
Sales-type lease revenue	136	62	—
Sales-type lease revenue - related parties	500	465	435
Income from equity method investments	600	476	321
Other income	126	485	21
Other income - related parties	121	111	110
Total revenues and other income	11,281	11,613	10,027
Costs and expenses:
Cost of revenues (excludes items below)	1,401	1,369	1,184
Purchased product costs	1,598	2,063	1,585
Rental cost of sales	82	123	136
Rental cost of sales - related parties	33	54	109
Purchases - related parties	1,544	1,413	1,219
Depreciation and amortization	1,213	1,230	1,287
Impairment expense	—	—	42
General and administrative expenses	379	335	353
Other taxes	131	115	120
Total costs and expenses	6,381	6,702	6,035
Income from operations	4,900	4,911	3,992
Related-party interest and other financial costs	—	5	8
Interest expense, net of amounts capitalized	897	843	785
Other financial costs, net	26	77	86
Income before income taxes	3,977	3,986	3,113
Provision for income taxes	11	8	1
Net income	3,966	3,978	3,112
Less: Net income attributable to noncontrolling interests	38	34	35
Net income attributable to MPLX LP	3,928	3,944	3,077
Less: Series A preferred unitholders’ interest in net income	94	88	100
Less: Series B preferred unitholders’ interest in net income	5	41	41
Limited partners’ interest in net income attributable to MPLX LP	$3,829	$3,815	$2,936
Per Unit Data (See Note 8)
Net income attributable to MPLX LP per limited partner unit:
Common - basic	$3.80	$3.75	$2.86
Common - diluted	$3.80	$3.75	$2.86
Weighted average limited partner units outstanding:
Common - basic	1,001	1,010	1,027
Common - diluted	1,002	1,010	1,027

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.