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Debt (Tables)

12 Months Ended

Dec. 31, 2018

Extinguishment of Debt [Line Items]

Schedule of Extinguishment of Debt [Table Text Block]

On December 10, 2018, MPLX redeemed all of the $750 million 5.5 percent senior notes due February 15, 2023, $40 million of which was issued by the MarkWest subsidiary. These notes were redeemed at 101.833 percent of the principal amount, which resulted in a payment of $14 million related to the note premium and the immediate recognition of $46 million of unamortized debt issuance costs.

Summary of Outstanding Borrowings

MPLX’s outstanding borrowings at December 31, 2018 and 2017 consisted of the following:

		December 31,
(In millions)		2018				2017
MPLX LP:
Bank revolving credit facility due 2022		$	—			$	505
5.500% senior notes due February 2023		—				710
3.375% senior notes due March 2023		500				—
4.500% senior notes due July 2023		989				989
4.875% senior notes due December 2024		1,149				1,149
4.000% senior notes due February 2025		500				500
4.875% senior notes due June 2025		1,189				1,189
4.125% senior notes due March 2027		1,250				1,250
4.000% senior notes due March 2028		1,250				—
4.800% senior notes due February 2029		750				—
4.500% senior notes due April 2038		1,750				—
5.200% senior notes due March 2047		1,000				1,000
4.700% senior notes due April 2048		1,500				—
5.500% senior notes due February 2049		1,500				—
4.900% senior notes due April 2058		500				—
Consolidated subsidiaries:
MarkWest - 4.500% - 4.875% senior notes, due 2023-2025		23				63
Capital lease obligations due 2020		6				7
Total		13,856				7,362
Unamortized debt issuance costs		(97		)		(27		)
Unamortized discount		(366		)		(389		)
Amounts due within one year		(1		)		(1		)
Total long-term debt due after one year		$	13,392			$	6,945

Schedule of Debt Payments

The following table shows five years of scheduled debt payments.

(In millions)
2019		$	1
2020		5
2021		—
2022		—
2023		$	1,500

Schedule of interest payable dates

Interest on each series of MPLX LP and MarkWest senior notes is payable semi-annually in arrears, according to the table below.

Senior Notes		Interest payable semi-annually in arrears
3.375% senior notes due 2023		March 15th and September 15th
4.500% senior notes due 2023		January 15th and July 15th
4.875% senior notes due 2024		June 1st and December 1st
4.000% senior notes due 2025		February 15th and August 15th
4.875% senior notes due 2025		June 1st and December 1st
4.125% senior notes due 2027		March 1st and September 1st
4.000% senior notes due 2028		March 15th and September 15th
4.800% senior notes due 2029		February 15th and August 15th
4.500% senior notes due 2038		April 15th and October 15th
5.200% senior notes due 2047		March 1st and September 1st
4.700% senior notes due 2048		April 15th and October 15th
5.500% senior notes due 2049		February 15th and August 15th
4.900% senior notes due 2058		April 15th and October 15th

Schedule of amounts related to the SMR included in the Balance Sheet

As of December 31, 2018 and 2017, the following amounts related to the SMR are included in the accompanying Consolidated Balance Sheets:

(In millions)		December 31, 2018				December 31, 2017
Assets
Property, plant and equipment, net		$	51			$	56
Liabilities
Accrued liabilities		5				5
Deferred credits and other liabilities		$	81			$	86

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