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

Carrying value as of the balance sheet date of obligations incurred through that date and payable for property, plant and equipment. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

No definition available.

MPLX LP 10-Q