v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 1,506 $ 2,137
Receivables, less allowance for expected credit loss 769 735
Inventories 178 172
Other current assets 62 51
Total current assets 3,522 3,994
Equity method investments 4,981 4,798
Property, plant and equipment, net 21,992 21,698
Intangibles, net 1,359 1,397
Goodwill 8,736 8,755
Right of use assets, net 268 276
Other noncurrent assets 1,159 1,125
Total assets 42,933 43,005
Liabilities    
Accounts payable 126 108
Accrued liabilities 333 254
Accrued property, plant and equipment 533 438
Long-term debt due within one year 1,251 1,502
Accrued interest payable 264 354
Operating lease liabilities 53 53
Total current liabilities 3,192 3,249
Long-term deferred revenue 115 119
Long-term debt 24,383 24,151
Deferred income taxes 25 25
Long-term operating lease liabilities 208 217
Total liabilities 28,636 28,477
Commitments and contingencies (see Note 16)
Equity    
Accumulated other comprehensive income 5 5
Total MPLX LP partners’ capital 14,071 14,301
Noncontrolling interests 226 227
Total equity 14,297 14,528
Total liabilities, preferred units and equity 42,933 43,005
Related Party [Member]    
Assets    
Receivables, less allowance for expected credit loss 689 624
Current assets - related parties 1,007 899
Other current assets 1 1
Right of use assets, net 239 239
Noncurrent assets - related parties 916 962
Liabilities    
Operating lease liabilities 2 2
Other current liabilities 455 399
Long-term liabilities - related parties 375 364
Equity    
Limited Partners' Capital Account 4,734 4,845
Nonrelated Party [Member]    
Liabilities    
Other current liabilities 177 141
Long-term liabilities - related parties 338 352
Equity    
Limited Partners' Capital Account $ 9,332 $ 9,451