v3.19.2
Equity Equity, Earnings Per Unit (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2019
Jun. 30, 2018
Net earnings $ 160.0     $ 132.0 [1],[2],[3]   $ 317.0 $ 263.0 [1],[2],[3],[4]
Distributions on Preferred Units (b) [5] 0.0     (10.0) [2]   0.0 (20.0) [2]
Limited Partners’ Interest in Net Earnings 160.0     122.0 [2]   317.0 243.0 [2]
Distributions on common units less (greater) than earnings $ 160.0     $ (87.0) [2]   $ 77.0 $ (171.0) [2]
Common units - basic 245.6     217.2   245.6 217.2
Common units - diluted [6] 245.7     217.3   245.7 217.3
Common - basic [7] $ 0.65     $ 0.63   $ 1.29 $ 1.23
Common - diluted [7] $ 0.65     $ 0.63   $ 1.29 $ 1.23
Distribution to Partner, Waived Distribution $ 0.0 $ 12.5 $ 15.0 $ 15.0   $ 12.5 $ 30.0
Loss attributable to Predecessors 0.0     16.0 [3] $ 8.0 0.0 24.0 [3]
Common              
Limited partners’ distributions on common units (c) [8] 0.0 [9]     (209.0) [2]   (240.0) [9] (414.0) [2]
Distributions on common units less (greater) than earnings 160.0     (71.0) [2]   77.0 (147.0) [2]
GP and LP Earnings (Loss) 160.0     138.0 [2]   317.0 267.0 [2]
Loss attributable to Predecessors       0.0 $ 0.0    
General Partner              
Distributions on common units less (greater) than earnings [10] 0.0     16.0 [2]   0.0 24.0 [2]
GP and LP Earnings (Loss) $ 0.0     $ (16.0) [2]   $ 0.0 $ (24.0) [2]
[1]
Adjusted to include the historical results of the Predecessors. See Note 1 for further discussion.
[2]
Adjusted to include the historical results of the Predecessors. See Note 1 for further discussion.
[3]
Adjusted to include the historical results of the Predecessors. See Note 1 for further discussion.
[4] Adjusted to include the historical results of the Predecessors. See Note 1 for further discussion.
[5]
The Preferred Units entitle unitholders to receive preferred distributions on a semi-annual basis. Due to the MPLX Merger, we did not declare a distribution for the first half of 2019.
[6]
Diluted net earnings per unit include the effects of potentially dilutive units on our common units, which consist of unvested phantom units.
[7]
Amounts may not recalculate due to rounding of dollar and unit information.
[8]
Distributions of earnings for limited partners’ common units for the three months ended June 30, 2018 is net of a $15 million waiver and the six months ended June 30, 2019 and 2018 are net of a $12.5 million and $30 million waiver, respectively, from our Sponsor. There was no waiver for the three months ended June 30, 2019 because we did not declare a distribution for the second quarter of 2019 due to the MPLX Merger.
[9]
We did not declare a distribution for the second quarter of 2019 due to the MPLX Merger.
[10]
We have revised the historical allocation of general partner earnings to include the Predecessors’ losses of $16 million and $24 million for the three and six months ended June 30, 2018, respectively.