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Segment Information | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Segment Reporting | Segment Information MPLX’s chief operating decision maker (“CODM”) is the chief executive officer of its general partner. The CODM reviews MPLX’s discrete financial information, makes operating decisions, assesses financial performance and allocates resources on a product-based value chain basis. MPLX has two reportable segments: Crude Oil and Products Logistics and Natural Gas and NGL Services. Each of these segments is organized and managed based upon the product-based value chain each supports. •Crude Oil and Products Logistics – gathers, transports, stores and distributes crude oil, refined products, other hydrocarbon-based products and renewables. Also includes the operation of refining logistics, fuels distribution and inland marine businesses, terminals, rail facilities, and storage caverns. •Natural Gas and NGL Services – gathers, treats, processes and transports natural gas; and transports, fractionates, stores and markets NGLs. The CODM evaluates the performance of our segments using Segment Adjusted EBITDA. The CODM uses Segment Adjusted EBITDA results and considers forecast-to-actual variances on a periodic basis when making decisions about allocating capital and personnel as a part of the annual business plan process and ongoing monitoring of performance. Amounts included in net income and excluded from Segment Adjusted EBITDA include: (i) depreciation and amortization; (ii) net interest and other financial costs; (iii) income/(loss) from equity method investments; (iv) distributions and adjustments related to equity method investments; (v) impairment expense; (vi) noncontrolling interests; (vii) transaction-related costs and (viii) other adjustments, as applicable. 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) not tied to the operational performance of the segment. Assets by segment are not a measure used to assess the performance of the Partnership by our CODM and thus are not reported in our disclosures. The tables below present information about our reportable segments:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2026 |  | 2025 |  | 2026 |  | 2025
Crude Oil and Products Logistics |  |  |  |  |  |  |
Service revenue | $ | 1,232 |  |  | $ | 1,202 |  |  | $ | 2,407 |  |  | $ | 2,364 |
Rental income | 282 |  |  | 224 |  |  | 531 |  |  | 443 |
Product related revenue | 7 |  |  | 4 |  |  | 11 |  |  | 8 |
Sales-type lease revenue | 85 |  |  | 116 |  |  | 187 |  |  | 231 |
Income from equity method investments | 52 |  |  | 59 |  |  | 114 |  |  | 115 |
Other income | 30 |  |  | 30 |  |  | 58 |  |  | 66 |
Total segment revenues and other income(1) | 1,688 |  |  | 1,635 |  |  | 3,308 |  |  | 3,227 |
Operating expenses | 564 |  |  | 532 |  |  | 1,104 |  |  | 1,060 |
Other segment items(2) | (37) |  |  | (35) |  |  | (68) |  |  | (68) |
Segment Adjusted EBITDA(3) | 1,161 |  |  | 1,138 |  |  | 2,272 |  |  | 2,235 |
Capital expenditures | 131 |  |  | 129 |  |  | 235 |  |  | 244 |
Natural Gas and NGL Services |  |  |  |  |  |  |
Service revenue | 615 |  |  | 587 |  |  | 1,241 |  |  | 1,198 |
Rental income | 60 |  |  | 56 |  |  | 118 |  |  | 112 |
Product related revenue | 761 |  |  | 563 |  |  | 1,305 |  |  | 1,246 |
Sales-type lease revenue | 40 |  |  | 36 |  |  | 88 |  |  | 73 |
Income from equity method investments | 128 |  |  | 111 |  |  | 248 |  |  | 241 |
Other income | 20 |  |  | 15 |  |  | 42 |  |  | 30 |
Total segment revenues and other income(1) | 1,624 |  |  | 1,368 |  |  | 3,042 |  |  | 2,900 |
Purchased product costs | 587 |  |  | 432 |  |  | 1,085 |  |  | 891 |
Operating expenses | 418 |  |  | 422 |  |  | 846 |  |  | 867 |
Other segment items(2) | 5 |  |  | (38) |  |  | (121) |  |  | (70) |
Segment Adjusted EBITDA(3) | 614 |  |  | 552 |  |  | 1,232 |  |  | 1,212 |
Capital expenditures | 688 |  |  | 212 |  |  | 1,249 |  |  | 365 |
Investments in unconsolidated affiliates(4) | $ | 202 |  |  | $ | 203 |  |  | $ | 439 |  |  | $ | 322 |
(1) Within the total segment revenues and other income amounts presented above, third-party revenues for the Crude Oil and Products Logistics segment were $157 million and $319 million for the three and six months ended June 30, 2026, respectively, and $187 million and $364 million for the three and six months ended June 30, 2025, respectively. Third-party revenues for the Natural Gas and NGL Services segment were $1,482 million and $2,813 million for the three and six months ended June 30, 2026, respectively, and $1,326 million and $2,765 million for the three and six months ended June 30, 2025, respectively. (2) Other segment items in the Crude Oil and Products Logistics segment include income from equity method investments, distributions and adjustments related to equity method investments, equity-based compensation and other miscellaneous items. Other segment items in the Natural Gas and NGL Services segment include income from equity method investments, distributions and adjustments related to equity method investments, unrealized derivative gain/loss and other miscellaneous items. (3) See below for the reconciliation from Segment Adjusted EBITDA to Net income. (4) Investments in unconsolidated affiliates in the Natural Gas and NGL Services segment for the three and six months ended June 30, 2026 and June 30, 2025 includes cash contributions to several joint ventures to fund current growth capital projects. The table below provides a reconciliation of Segment Adjusted EBITDA for reportable segments to Net income.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2026 |  | 2025 |  | 2026 |  | 2025
Reconciliation to Net income: |  |  |  |  |  |  |
Crude Oil and Products Logistics Segment Adjusted EBITDA | $ | 1,161 |  |  | $ | 1,138 |  |  | $ | 2,272 |  |  | $ | 2,235 |
Natural Gas and NGL Services Segment Adjusted EBITDA | 614 |  |  | 552 |  |  | 1,232 |  |  | 1,212 |
Total reportable segments | 1,775 |  |  | 1,690 |  |  | 3,504 |  |  | 3,447 |
Depreciation and amortization(1) | (365) |  |  | (324) |  |  | (723) |  |  | (650) |
Net interest and other financial costs | (289) |  |  | (234) |  |  | (580) |  |  | (463) |
Income from equity method investments | 180 |  |  | 170 |  |  | 362 |  |  | 356 |
Distributions/adjustments related to equity method investments | (234) |  |  | (229) |  |  | (485) |  |  | (456) |
Adjusted EBITDA attributable to noncontrolling interests | 11 |  |  | 11 |  |  | 22 |  |  | 22 |
Other(2) | 9 |  |  | (26) |  |  | (91) |  |  | (62) |
Net income | $ | 1,087 |  |  | $ | 1,058 |  |  | $ | 2,009 |  |  | $ | 2,194 |
(1) Depreciation and amortization attributable to Crude Oil and Products Logistics was $146 million and $289 million for the three and six months ended June 30, 2026, respectively, and $135 million and $268 million for the three and six months ended June 30, 2025, respectively. Depreciation and amortization attributable to Natural Gas and NGL Services was $219 million and $434 million for the three and six months ended June 30, 2026, respectively, and $189 million and $382 million for the three and six months ended June 30, 2025, respectively. (2) Includes unrealized derivative gain/(loss), equity-based compensation, provision for income taxes, and other miscellaneous items.

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