MPLX LP
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
MPLX$56.71-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
MPLX LP
| (In millions) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Operating activities: | |||
| Net income | $3,966 | $3,978 | $3,112 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Amortization of deferred financing costs | 55 | 73 | 70 |
| Depreciation and amortization | 1,213 | 1,230 | 1,287 |
| Impairment expense | — | — | 42 |
| Deferred income taxes | 3 | 3 | (2) |
| Gain on sales-type leases and equity method investments | (92) | (509) | — |
| (Gain)/loss on disposal of assets | (14) | 34 | (13) |
| Income from equity method investments | (600) | (476) | (321) |
| Distributions from unconsolidated affiliates | 736 | 578 | 508 |
| Change in fair value of derivatives | — | (47) | 45 |
| Changes in: | |||
| Receivables | 14 | 14 | (199) |
| Inventories | (19) | (5) | (24) |
| Accounts payable and accrued liabilities | (40) | (33) | 193 |
| Assets/liabilities - related parties | 84 | 40 | 101 |
| Right of use assets/operating lease liabilities | — | (3) | (2) |
| Deferred revenue | 107 | 108 | 88 |
| All other, net | (16) | 34 | 26 |
| Net cash provided by operating activities | 5,397 | 5,019 | 4,911 |
| Investing activities: | |||
| Additions to property, plant and equipment | (937) | (806) | (529) |
| Acquisitions, net of cash acquired | (246) | (28) | — |
| Disposal of assets | 26 | 84 | 126 |
| Investments in unconsolidated affiliates | (98) | (217) | (151) |
| Distributions from unconsolidated affiliates - return of capital | 3 | 11 | 36 |
| Net cash used in investing activities | (1,252) | (956) | (518) |
| Financing activities: | |||
| Long-term debt borrowings | 1,589 | 3,379 | 4,175 |
| Long-term debt repayments | (1,001) | (2,202) | (5,821) |
| Related party debt borrowings | — | 2,989 | 8,493 |
| Related party debt repayments | — | (4,439) | (7,043) |
| Debt issuance costs | (15) | (29) | — |
| Unit repurchases | — | (491) | (630) |
| Redemption of Series B preferred units | (600) | — | — |
| Distributions to noncontrolling interests | (41) | (38) | (39) |
| Distributions to Series A preferred unitholders | (94) | (85) | (100) |
| Distributions to Series B preferred unitholders | (21) | (41) | (41) |
| Distributions to unitholders and general partner | (3,181) | (2,921) | (3,432) |
| Contributions from MPC | 31 | 44 | 45 |
| All other, net | (2) | (4) | (2) |
| Net cash used in financing activities | (3,335) | (3,838) | (4,395) |
| Net change in cash, cash equivalents and restricted cash | 810 | 225 | (2) |
| Cash, cash equivalents and restricted cash at beginning of period | 238 | 13 | 15 |
| Cash, cash equivalents and restricted cash at end of period | $1,048 | $238 | $13 |
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