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Consolidated Statements of Cash Flows
$ in Millions
 12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Operating activities:      
Net income $ 1,834 $ 836 $ 434
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of deferred financing costs 59 53 46
Depreciation and amortization 766 [1] 683 [1] 591 [1]
Impairment expense 0 0 130
Deferred income taxes 8 (1) (17)
Asset retirement expenditures (7) (2) (6)
Loss/(gain) on disposal of assets 2 0 (1)
Income from equity method investments (240) [2],[3] (78) [2],[3] 74 [2],[3]
Distributions from unconsolidated affiliates 400 241 148
Changes in:      
Current receivables (122) 8 (52)
Inventories (5) (3) (8)
Fair value of derivatives (10) 6 43
Current accounts payable and accrued liabilities 100 48 102
Receivables from/liabilities to related parties (50) 63 (19)
Prepaid other current assets from related parties 7 (8) 0
Deferred revenue 39 33 10
All other, net 45 28 16
Net cash provided by operating activities 2,826 1,907 1,491
Investing activities:      
Additions to property, plant and equipment (1,919) (1,411) (1,313)
Acquisitions, net of cash acquired (451) (249) 0
Investments - net related party loans 0 80 (17)
Disposal of assets 8 7 1
Investments in unconsolidated affiliates (341) (761) (87)
Distributions from unconsolidated affiliates - return of capital 16 26 0
All other, net 1 0 (1)
Net cash used in investing activities (2,686) (2,308) (1,417)
Financing activities:      
Long-term debt - borrowings 13,186 2,911 434
Long-term debt - repayments (6,780) (416) (1,312)
Related party debt - borrowings 3,962 2,369 2,532
Related party debt - repayments (4,347) (1,983) (2,540)
Debt issuance costs (76) (29) 0
Net proceeds from equity offerings 0 483 792
Issuance of redeemable preferred units 0 0 984
Distributions to preferred unitholders (71) (65) (25)
Distributions to MPC for acquisitions (4,111) (1,951) 0
Distributions to MPC from Predecessor 0 113 104
Distributions to unitholders and general partner (1,819) (1,120) (845)
Distributions to noncontrolling interests (17) (7) (3)
Contributions from MPC 0 0 225
Contributions from noncontrolling interests 11 129 6
Consideration payment to Class B unitholders 0 (25) (25)
All other, net (11) (12) (6)
Net cash (used in)/provided by financing activities (73) 171 113
Net increase/(decrease) in cash, cash equivalents and restricted cash 67 (230) 187
Cash, cash equivalents and restricted cash at beginning of period 76 [4] 9 [4] 239
Cash, cash equivalents and restricted cash at end of period $ 76 [4] $ 9 [4] $ 239
[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] “Income/(loss) from equity method investments” includes the impact of any basis differential amortization or accretion.
[4] As a result of the adoption of ASU 2016-18, Statement of Cash Flows - Restricted Cash, the Consolidated Statements of Cash Flows now explain the change during the period of both “Cash and cash equivalents” and “Restricted cash.”