v3.3.0.814
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues and other income:        
Sales and other operating revenues $ 18.2 $ 16.6 $ 50.2 $ 52.2
Sales to related parties 122.7 114.1 360.7 336.0
Loss on sale of assets 0.0 0.0 (0.2) 0.0
Other income 1.4 1.5 4.2 4.1
Other income - related parties 6.3 5.8 18.8 16.9
Total revenues and other income 148.6 138.0 433.7 409.2
Costs and expenses:        
Cost of revenues (excludes items below) 41.9 40.6 101.4 102.9
Purchases from related parties 26.5 23.7 75.1 71.4
Depreciation 12.7 12.5 38.1 37.5
General and administrative expenses 21.1 15.3 57.7 47.1
Other taxes (0.7) 1.7 5.5 5.5
Total costs and expenses 101.5 93.8 277.8 264.4
Income from operations 47.1 44.2 155.9 144.8
Net interest and other financial costs 5.2 1.1 16.7 3.0
Income before income taxes 41.9 43.1 139.2 141.8
Provision for income taxes (0.1) 0.0 (0.1) (0.1)
Net income 41.8 43.1 139.1 141.7
Less: Net income attributable to MPC-retained interest 0.3 14.0 0.8 49.6
Net income attributable to MPLX LP [1] 41.5 29.1 138.3 92.1
Less: General partner’s interest in net income attributable to MPLX LP 8.6 1.5 19.4 3.7
Limited partners’ interest in net income attributable to MPLX LP $ 32.9 $ 27.6 $ 118.9 $ 88.4
Weighted average limited partner units outstanding:        
Weighted Average Limited Partnership Units Outstanding, Basic 82.0 75.5 82.0 75.4
Weighted Average Limited Partnership Units Outstanding, Diluted 82.0 75.5 82.0 75.5
MPC [Member]        
Revenues and other income:        
Sales to related parties $ 122.7 $ 114.1 $ 360.7 $ 336.0
Other income - related parties 6.1 5.5 17.9 16.0
Limited Partners Common Units [Member]        
Costs and expenses:        
Net income attributable to MPLX LP [1] $ 32.8 $ 13.7 $ 79.2 $ 42.8
Per Unit Data (See Note 5)        
Common - basic (in USD per unit) $ 0.41 $ 0.37 $ 1.42 $ 1.16
Common - diluted (in USD per unit) $ 0.41 $ 0.37 $ 1.42 $ 1.16
Weighted average limited partner units outstanding:        
Weighted Average Limited Partnership Units Outstanding, Basic 80.4 37.1 55.9 37.0
Weighted Average Limited Partnership Units Outstanding, Diluted 80.4 37.1 55.9 37.1
Cash distributions declared per limited partner common unit $ 0.4700 $ 0.3575 $ 1.3200 $ 1.0275
Limited Partners Subordinated Units [Member] | MPC [Member]        
Costs and expenses:        
Net income attributable to MPLX LP [1] $ 0.0 $ 13.6 $ 33.5 $ 42.7
Per Unit Data (See Note 5)        
Common - basic (in USD per unit) $ 0.00 $ 0.37 $ 1.36 $ 1.16
Common - diluted (in USD per unit) 0.00 0.37 1.36 1.16
Subordinated - basic and diluted (in USD per unit) $ 0.00 $ 0.37 $ 1.36 $ 1.16
Weighted average limited partner units outstanding:        
Weighted Average Limited Partnership Units Outstanding, Basic 0.0 37.0 24.5 37.0
Weighted Average Limited Partnership Units Outstanding, Diluted 0.0 37.0 24.5 37.0
Weighted average limited partner units outstanding basic and diluted (in shares) 0.0 37.0 24.5 37.0
[1] Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities.