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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 423 $ 187
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred financing costs 16 12
Depreciation and amortization 176 187
Deferred income taxes 4 0
Asset retirement expenditures (1) (1)
Gain on disposal of assets 0 (1)
Income from equity method investments [1] (61) (5)
Distributions from unconsolidated affiliates 68 33
Changes in:    
Current receivables (8) 44
Inventories 2 0
Fair value of derivatives (9) (18)
Current accounts payable and accrued liabilities (44) (59)
Receivables from / liabilities to related parties (127) (18)
Prepaid other current assets from related parties 1 0
Deferred revenue 7 7
All other, net 3 9
Net cash provided by operating activities 450 377
Investing activities:    
Additions to property, plant and equipment (455) (280)
Acquisitions, net of cash acquired 0 (220)
Disposal of assets 2  
Disposal of Assets   (1)
Investments - net related party loans 0 80
Investments in unconsolidated affiliates (38) (554)
Distributions from unconsolidated affiliates - return of capital 0 20
All other, net 1 0
Net cash used in investing activities (490) (955)
Financing activities:    
Long-term debt - borrowings 9,610 2,241
Long-term debt - repayments (4,655) (1)
Related party debt - borrowings 452 12
Related party debt - repayments (838) (12)
Debt issuance costs (53) (21)
Net proceeds from equity offerings 0 151
Distributions of cash received from joint-interest acquisition entities to MPC 11 0
Distributions to MPC for acquisition (4,100) (1,511)
Distributions to MPC from Predecessor 0 (113)
Distributions to noncontrolling interests (3) (2)
Distributions to preferred unitholders (16) (16)
Distributions to unitholders and general partner (347) (242)
Contributions from noncontrolling interests 1 126
All other, net (3) (5)
Net cash provided by financing activities 37 607
Net (decrease) increase in cash, cash equivalents and restricted cash (3) 29
Cash, cash equivalents and restricted cash at beginning of period 9 [2] 239
Cash, cash equivalents and restricted cash at end of period $ 6 [2] $ 268
[1] “Income (loss) from equity method investments” includes the impact of any basis differential amortization or accretion.
[2] As a result of the adoption of ASU 2016-18, the Consolidated Statements of Cash Flows now explain the change during the period of both “Cash and cash equivalents” and “Restricted cash.”