MPLX LP

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

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.

FY2025 · Filed Feb 26, 2026

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)	2025	2024	2023
Revenues and other income:
Service revenue	$2,899	$2,770	$2,539
Service revenue - related parties	4,393	4,180	3,985
Service revenue - product related	289	357	294
Rental income	260	251	243
Rental income - related parties	889	853	822
Product sales	2,002	1,657	1,665
Product sales - related parties	143	225	250
Sales-type lease revenue	151	136	136
Sales-type lease revenue - related parties	448	475	500
Income from equity method investments	697	802	600
Gain on equity method investments	484	20	92
Other income	179	50	34
Other income - related parties	164	157	121
Total revenues and other income	12,998	11,933	11,281
Costs and expenses:
Cost of revenues (excludes items below)	1,561	1,560	1,401
Purchased product costs	1,815	1,561	1,598
Rental cost of sales	80	82	82
Rental cost of sales - related parties	16	18	33
Purchases - related parties	1,649	1,583	1,544
Depreciation and amortization	1,351	1,283	1,213
General and administrative expenses	446	427	379
Other taxes	137	131	131
Total costs and expenses	7,055	6,645	6,381
Income from operations	5,943	5,288	4,900
Net interest and other financial costs	983	921	923
Income before income taxes	4,960	4,367	3,977
Provision for income taxes	8	10	11
Net income	4,952	4,357	3,966
Less: Net income attributable to noncontrolling interests	40	40	38
Net income attributable to MPLX LP	4,912	4,317	3,928
Less: Series A preferred unitholders’ interest in net income	—	27	94
Less: Series B preferred unitholders’ interest in net income	—	—	5
Limited partners’ interest in net income attributable to MPLX LP	$4,912	$4,290	$3,829
Per Unit Data (See Note 8)
Net income attributable to MPLX LP per limited partner unit:
Common - basic	$4.82	$4.21	$3.80
Common - diluted	$4.82	$4.21	$3.80
Weighted average limited partner units outstanding:
Common - basic	1,019	1,016	1,001
Common - diluted	1,019	1,017	1,002

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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.