v3.3.0.814
Net Income Per Limited Partner Unit (Tables)
9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Schedule of Distributions By Partner By Class
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2015
 
2014
 
2015
 
2014
Net income attributable to MPLX LP
$
41.5

 
$
29.1

 
$
138.3

 
$
92.1

Less: General partner’s distributions
declared (including IDRs) (1)
8.8

 
1.5

 
19.0

 
3.4

  Limited partners’ distributions declared
  on common units (1)
37.7

 
13.2

 
74.6

 
38.0

  Limited partner’s distributions declared
  on subordinated units (1)

 
13.2

 
31.4

 
38.0

Undistributed net income (loss) attributable to MPLX LP
$
(5.0
)

$
1.2

 
$
13.3

 
$
12.7

 
(1) 
See Note 6 for distribution information.

Schedule of Basic and Diluted Earnings Per Unit
 
Three Months Ended September 30, 2015
(In millions, except per unit data)
General
Partner
 
Limited
Partners’
Common
Units
 
Limited
Partner’s
Subordinated
Units
 
Total
Basic and diluted net income attributable to MPLX LP per unit:
 
 
 
 
 
 
 
Net income attributable to MPLX LP:
 
 
 
 
 
 
 
Distributions declared (including IDRs)
$
8.8

 
$
37.7

 
$

 
$
46.5

Undistributed net loss attributable to MPLX LP
(0.1
)
 
(4.9
)
 

 
(5.0
)
Net income attributable to MPLX LP (1)
$
8.7

 
$
32.8

 
$

 
$
41.5

Weighted average units outstanding:
 
 
 
 
 
 
 
Basic
1.6

 
80.4

 

 
82.0

Diluted
1.6

 
80.4

 

 
82.0

Net income attributable to MPLX LP per limited partner unit:
 
 
 
 
 
 
 
Basic
 
 
$
0.41

 
$

 
 
Diluted
 
 
$
0.41

 
$

 
 
 
Three Months Ended September 30, 2014
(In millions, except per unit data)
General
Partner
 
Limited
Partners’
Common
Units
 
Limited
Partner’s
Subordinated
Units
 
Total
Basic and diluted net income attributable to MPLX LP per unit:
 
 
 
 
 
 
 
Net income attributable to MPLX LP:
 
 
 
 
 
 
 
Distributions declared (including IDRs)
$
1.5

 
$
13.2

 
$
13.2

 
$
27.9

Undistributed net income attributable to MPLX LP
0.3

 
0.5

 
0.4

 
1.2

Net income attributable to MPLX LP (1)
$
1.8

 
$
13.7

 
$
13.6

 
$
29.1

Weighted average units outstanding:
 
 
 
 
 
 
 
Basic
1.4

 
37.1

 
37.0

 
75.5

Diluted
1.4

 
37.1

 
37.0

 
75.5

Net income attributable to MPLX LP per limited partner unit:
 
 
 
 
 
 
 
Basic
 
 
$
0.37

 
$
0.37

 
 
Diluted
 
 
$
0.37

 
$
0.37

 
 

 
Nine Months Ended September 30, 2015
(In millions, except per unit data)
General
Partner
 
Limited
Partners’
Common
Units
 
Limited
Partner’s
Subordinated
Units
 
Total
Basic and diluted net income attributable to MPLX LP per unit:
 
 
 
 
 
 
 
Net income attributable to MPLX LP:
 
 
 
 
 
 
 
Distributions declared (including IDRs)
$
19.0

 
$
74.6

 
$
31.4

 
$
125.0

Undistributed net income attributable to MPLX LP
6.6

 
4.6

 
2.1

 
13.3

Net income attributable to MPLX LP (1)
$
25.6

 
$
79.2

 
$
33.5

 
$
138.3

Weighted average units outstanding:
 
 
 
 
 
 
 
Basic
1.6

 
55.9

 
24.5

 
82.0

Diluted
1.6

 
55.9

 
24.5

 
82.0

Net income attributable to MPLX LP per limited partner unit:
 
 
 
 
 
 
 
Basic
 
 
$
1.42

 
$
1.36

 
 
Diluted
 
 
$
1.42

 
$
1.36

 
 

 
Nine Months Ended September 30, 2014
(In millions, except per unit data)
General
Partner
 
Limited
Partners’
Common
Units
 
Limited
Partner’s
Subordinated
Units
 
Total
Basic and diluted net income attributable to MPLX LP per unit:
 
 
 
 
 
 
 
Net income attributable to MPLX LP:
 
 
 
 
 
 
 
Distributions declared (including IDRs)
$
3.4

 
$
38.0

 
$
38.0

 
$
79.4

Undistributed net income attributable to MPLX LP
3.2

 
4.8

 
4.7

 
12.7

Net income attributable to MPLX LP (1)
$
6.6

 
$
42.8

 
$
42.7

 
$
92.1

Weighted average units outstanding:
 
 
 
 
 
 
 
Basic
1.4

 
37.0

 
37.0

 
75.4

Diluted
1.4

 
37.1

 
37.0

 
75.5

Net income attributable to MPLX LP per limited partner unit:
 
 
 
 
 
 
 
Basic
 
 
$
1.16

 
$
1.16

 
 
Diluted
 
 
$
1.16

 
$
1.16

 
 

(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.