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Segment Information | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
Segment Information | Segment Information MPLX’s chief operating decision maker is the chief executive officer (“CEO”) of its general partner. The CEO reviews MPLX’s discrete financial information, makes operating decisions, assesses financial performance and allocates resources on a type of service basis. MPLX has two reportable segments: L&S and G&P. Each of these segments is organized and managed based upon the nature of the products and services it offers.
• | L&S – transports, stores, distributes and markets crude oil and refined petroleum products.
• | G&P – gathers, processes and transports natural gas; gathers, transports, fractionates, stores and markets NGLs.
During the second quarter of 2018, our CEO began to evaluate the performance of our segments using Segment Adjusted EBITDA. We have modified our presentation of segment performance metrics to be consistent with this change, including prior periods presented for consistent and comparable presentation. Amounts included in net income and excluded from Segment Adjusted EBITDA include: (i) depreciation and amortization; (ii) provision/(benefit) for income taxes; (iii) amortization of deferred financing costs; (iv) extinguishment of debt; (v) non-cash equity-based compensation; (vi) impairment expense; (vii) net interest and other financial costs; (viii) income/(loss) from equity method investments; (ix) distributions and adjustments related to equity method investments; (x) unrealized derivative gains/(losses); (xi) acquisition costs; (xii) noncontrolling interests; and (xiii) other adjustments as deemed necessary. These items are either: (i) believed to be non-recurring in nature; (ii) not believed to be allocable or controlled by the segment; or (iii) are not tied to the operational performance of the segment. The tables below present information about revenues and other income, capital expenditures and total assets for our reportable segments:
(In millions) |  | 2018 |  | 2017 |  | 2016
L&S |  |  |  |  |  |
Service revenue |  | $ | 2,289 |  |  | $ | 1,200 |  |  | $ | 1,006 |
Rental income |  | 725 |  |  | 279 |  |  | 235 |
Product related revenue |  | 14 |  |  | — |  |  | — |
Income from equity method investments |  | 166 |  |  | 36 |  |  | — |
Other income |  | 46 |  |  | 47 |  |  | 53 |
Total segment revenues and other income(1) |  | 3,240 |  |  | 1,562 |  |  | 1,294 |
Segment Adjusted EBITDA(2) |  | 2,057 |  |  | 775 |  |  | 395 |
Maintenance capital expenditures |  | 104 |  |  | 79 |  |  | 58 |
Growth capital expenditures |  | 452 |  |  | 433 |  |  | 493 |
G&P |  |  |  |  |  |
Service revenue |  | 1,574 |  |  | 1,038 |  |  | 888 |
Rental income |  | 342 |  |  | 277 |  |  | 298 |
Product related revenue |  | 1,135 |  |  | 897 |  |  | 583 |
Income/(loss) from equity method investments(3) |  | 74 |  |  | 42 |  |  | (74 | )
Other income |  | 60 |  |  | 51 |  |  | 40 |
Total segment revenues and other income(1) |  | 3,185 |  |  | 2,305 |  |  | 1,735 |
Segment Adjusted EBITDA(2) |  | 1,418 |  |  | 1,229 |  |  | 1,024 |
Maintenance capital expenditures |  | 42 |  |  | 24 |  |  | 26 |
Growth capital expenditures |  | $ | 1,432 |  |  | $ | 948 |  |  | $ | 720 |
(1) Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $313 million, $160 million and $77 million for 2018, 2017 and 2016, respectively. Third party revenues for the G&P segment were $3,087 million, $2,246 million and $1,684 million for 2018, 2017 and 2016, respectively.
(2) | See below for the reconciliation from Segment Adjusted EBITDA to “Net income.”
(3) | Includes an impairment expense of $89 million related to one of MPLX’s equity method investments for the year ended December 31, 2016.
|  | December 31,
(In millions) |  | 2018 |  | 2017
Segment Assets |  |  |  |
Cash and cash equivalents |  | $ | 68 |  |  | $ | 5 |
L&S(1) |  | 6,566 |  |  | 4,611 |
G&P(1) |  | 16,145 |  |  | 14,884 |
Total assets |  | $ | 22,779 |  |  | $ | 19,500 |
(1) | Equity method investments included in L&S assets were $1.12 billion at December 31, 2018 and $1.15 billion at December 31, 2017. Equity method investments included in G&P assets were $3.05 billion at December 31, 2018 and $2.86 billion at December 31, 2017.
The table below provides a reconciliation between “Net income” and Segment Adjusted EBITDA.
(In millions) |  | 2018 |  | 2017 |  | 2016
Reconciliation to Net income: |  |  |  |  |  |
L&S Segment Adjusted EBITDA |  | $ | 2,057 |  |  | $ | 775 |  |  | $ | 395 |
G&P Segment Adjusted EBITDA |  | 1,418 |  |  | 1,229 |  |  | 1,024 |
Total reportable segments |  | 3,475 |  |  | 2,004 |  |  | 1,419 |
Depreciation and amortization(1) |  | (766 | ) |  | (683 | ) |  | (591 | )
(Provision)/benefit for income taxes |  | (8 | ) |  | (1 | ) |  | 12 |
Amortization of deferred financing costs |  | (59 | ) |  | (53 | ) |  | (46 | )
Loss on extinguishment of debt |  | (46 | ) |  | — |  |  | — |
Non-cash equity-based compensation |  | (19 | ) |  | (15 | ) |  | (10 | )
Impairment expense |  | — |  |  | — |  |  | (130 | )
Net interest and other financial costs |  | (556 | ) |  | (301 | ) |  | (215 | )
Income/(loss) from equity method investments(2) |  | 240 |  |  | 78 |  |  | (74 | )
Distributions/adjustments related to equity method investments |  | (447 | ) |  | (231 | ) |  | (150 | )
Unrealized derivative gains/(losses)(3) |  | 5 |  |  | (6 | ) |  | (36 | )
Acquisition costs |  | (3 | ) |  | (11 | ) |  | 1 |
Adjusted EBITDA attributable to noncontrolling interests |  | 18 |  |  | 8 |  |  | 3 |
Adjusted EBITDA attributable to Predecessor(4) |  | — |  |  | 47 |  |  | 251 |
Net income |  | $ | 1,834 |  |  | $ | 836 |  |  | $ | 434 |
(1) | Depreciation and amortization attributable to L&S was $240 million, $163 million and $128 million for the years ended 2018, 2017 and 2016, respectively. Depreciation and amortization attributable to G&P was $526 million, $520 million and $463 million for 2018, 2017 and 2016, respectively.
(2) | Includes an impairment expense of $89 million related to one of MPLX’s equity method investments for the year ended December 31, 2016.
(3) | MPLX makes a distinction between realized or unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded.
(4) | The Adjusted EBITDA adjustments related to Predecessor are excluded from Adjusted EBITDA attributable to MPLX LP prior to the acquisition date.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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