Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2019

Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

The following table presents balance sheet information for the assets and liabilities of MPLX and ANDX, which are included in our balance sheets.



	September 30, 2019		December 31, 2018
(In millions)	MPLX		MPLX		ANDX
Assets
Cash and cash equivalents	$	41	$	68	$	10
Receivables, less allowance for doubtful accounts	592		425		199
Inventories	104		77		22
Other current assets	71		45		57
Equity method investments	5,182		4,174		602
Property, plant and equipment, net	21,921		14,639		6,845
Goodwill	10,735		2,586		1,051
Right of use assets	366		—		—
Other noncurrent assets	1,364		458		1,242
Liabilities
Accounts payable	$	756	$	776	$	215
Payroll and benefits payable	5		2		10
Accrued taxes	96		48		23
Debt due within one year	510		1		504
Operating lease liabilities	61		—		—
Other current liabilities	276		177		77
Long-term debt	19,190		13,392		4,469
Deferred income taxes	15		13		1
Long-term operating lease liabilities	309		—		—
Deferred credits and other liabilities	383		276		68

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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