MPLX LP
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
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7. Net Income Per Limited Partner Unit
- Net Income Per Limited Partner Unit
Net income per unit applicable to common units is computed by dividing net income attributable to MPLX LP less income allocated to participating securities by the weighted average number of common units outstanding.
During the three and nine months ended September 30, 2025 and September 30, 2024, MPLX had participating securities consisting of common units, certain equity-based compensation awards and Series A preferred units, and also had dilutive potential common units consisting of certain equity-based compensation awards. Potential common units that were anti-dilutive, and therefore omitted from the diluted earnings per unit calculation for the three and nine months ended September 30, 2025 and September 30, 2024, were less thanone million.
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (In millions, except per unit data) | 2025 | 2024 | 2025 | 2024 |
| Net income attributable to MPLX LP(1): | $1,545 | $1,037 | $3,719 | $3,218 |
| Less: Distributions declared on Series A preferred units | — | 6 | — | 21 |
| Distributed and undistributed earnings allocated to other participating securities | 1 | — | 2 | 7 |
| Net Income available to common unitholders | $1,544 | $1,031 | $3,717 | $3,190 |
| Weighted average units outstanding: | ||||
| Basic | 1,019 | 1,020 | 1,020 | 1,016 |
| Diluted | 1,019 | 1,020 | 1,020 | 1,016 |
| Net income attributable to MPLX LP per limited partner unit: | ||||
| Basic | $1.52 | $1.01 | $3.65 | $3.14 |
| Diluted | $1.52 | $1.01 | $3.65 | $3.14 |
(1)Allocation of net income attributable to MPLX LP assumes all earnings for the period have been distributed based on the distribution priorities applicable to the period.
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