Overview Financials News + Filings Key Docs Charts Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| MPC | | | | | | 1,430.8 | 1,181.3 | |
| Logistics and Storage | 5,668.0 | 3,932.0 | 5,285.0 | 3,856.0 | 2,598.0 | 1,562.0 | 77.0 | |
| Gathering and Processing | 4,848.0 | 4,674.0 | 2,956.0 | 3,185.0 | 2,851.0 | 2,305.0 | 1,684.0 | |
| G&P | 4,578.0 | 3,903.0 | 3,033.0 | 3,304.0 | 2,743.0 | 2,045.0 | | 150.0 |
| Other | | | | | | | 86.7 | 951.0 |
| Total revenues [+] | 11,613.0 | 10,027.0 | 7,569.0 | 9,041.0 | 7,005.0 | 3,867.0 | 3,029.0 | 1,101.0 |
| Products | | | | | | | | 36.0 |
| Services | | | | | | | | 130.0 |
| Lease / rental | | | | | 352.0 | 277.0 | 298.0 | 20.0 |
| Other income | | | | | 7.0 | 6.0 | 7.0 | 6.0 |
| Revenue growth [+] | 15.8% | 32.5% | -16.3% | 29.1% | 81.1% | 27.7% | 175.1% | 38.8% |
| MPC | | | | | | 21.1% | | |
| Logistics and Storage | 44.2% | -25.6% | 37.1% | 48.4% | 66.3% | 1928.6% | | |
| Gathering and Processing | 3.7% | 58.1% | -7.2% | 11.7% | 23.7% | 36.9% | | |
| G&P | 17.3% | 28.7% | -8.2% | 20.5% | 34.1% | | | |
| L&S | | | | | | | | 23.0% |
| Cost of goods sold [+] | 1,230.0 | 1,287.0 | 1,377.0 | 1,254.0 | 135.0 | 62.0 | 57.0 | 258.0 |
| Other cost of sales | | | | | | | | 11.0 |
| Refining and marketing costs | | | | | | | | 247.0 |
| Gross profit | 10,383.0 | 8,740.0 | 6,192.0 | 7,787.0 | 6,870.0 | 3,805.0 | 2,972.0 | 843.0 |
| Gross margin | 89.4% | 87.2% | 81.8% | 86.1% | 98.1% | 98.4% | 98.1% | 76.6% |
| Selling, general and administrative [+] | 450.0 | 473.0 | 503.0 | 501.0 | 399.0 | 295.0 | 277.0 | 140.0 |
| General and administrative [+] | 450.0 | 473.0 | 503.0 | 501.0 | 399.0 | 295.0 | 277.0 | 140.0 |
| General and administrative expenses | 335.0 | 353.0 | 378.0 | 388.0 | 316.0 | 241.0 | 227.0 | 125.0 |
| Operating taxes | 115.0 | 120.0 | 125.0 | 113.0 | 83.0 | 54.0 | 50.0 | 15.0 |
| Equity in earnings | 476.0 | 321.0 | -936.0 | 290.0 | 247.0 | 78.0 | -74.0 | 3.0 |
| Other operating expenses | 5,022.0 | 4,233.0 | 3,276.0 | 4,929.0 | 3,956.0 | 2,124.0 | 1,528.0 | 255.0 |
| EBITDA [+] | 6,617.0 | 5,642.0 | 2,854.0 | 3,901.0 | 2,762.0 | 1,464.0 | 1,093.0 | 451.0 |
| EBITDA growth | 17.3% | 97.7% | -26.8% | 41.2% | 88.7% | 33.9% | 142.4% | 43.6% |
| EBITDA margin | 57.0% | 56.3% | 37.7% | 43.1% | 39.4% | 37.9% | 36.1% | 41.0% |
| Depreciation and amortization | 1,230.0 | 1,287.0 | 1,377.0 | 1,254.0 | 867.0 | 683.0 | 591.0 | 129.0 |
| EBIT [+] | 5,387.0 | 4,355.0 | 1,477.0 | 2,647.0 | 1,895.0 | 781.0 | 502.0 | 322.0 |
| EBIT growth | 23.7% | 194.9% | -44.2% | 39.7% | 142.6% | 55.6% | 55.9% | 34.7% |
| EBIT margin | 46.4% | 43.4% | 19.5% | 29.3% | 27.1% | 20.2% | 16.6% | 29.2% |
| Non-recurring items [+] | | 42.0 | 2,202.0 | 1,197.0 | | | 130.0 | |
| Asset impairment | | 42.0 | 2,165.0 | 1,197.0 | | | 130.0 | |
| Interest expense | 82.0 | 94.0 | 67.0 | | | | | |
| Interest expense | 82.0 | 94.0 | 67.0 | | | | | |
| Other income (expense), net [+] | -1,319.0 | -1,106.0 | 107.0 | 12.0 | 119.0 | 56.0 | 50.0 | 12.0 |
| Other | 485.0 | 21.0 | 5.0 | 12.0 | 119.0 | 56.0 | 50.0 | 12.0 |
| Pre-tax income | 3,986.0 | 3,113.0 | -685.0 | 1,462.0 | 2,014.0 | 837.0 | 422.0 | 334.0 |
| Income taxes | 8.0 | 1.0 | 2.0 | 0.0 | 8.0 | 1.0 | -12.0 | 1.0 |
| Tax rate | 0.2% | 0.0% | | 0.0% | 0.4% | 0.1% | | 0.3% |
| Minority interest | 34.0 | 35.0 | 33.0 | 28.0 | 16.0 | 6.0 | 2.0 | 1.0 |
| Net income | 3,815.0 | 2,936.0 | -842.0 | 935.0 | 1,743.0 | 411.0 | 1.0 | 99.0 |
| Net margin | 32.9% | 29.3% | -11.1% | 10.3% | 24.9% | 10.6% | 0.0% | 9.0% |
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| Basic EPS [+] | $3.78 | $2.86 | ($0.80) | $1.03 | $2.29 | $1.05 | $0.00 | $1.00 |
| Growth | 32.1% | -456.8% | -177.6% | -54.9% | 119.0% | 35248.1% | -99.7% | -33.9% |
| Diluted EPS [+] | $3.78 | $2.86 | ($0.80) | $1.03 | $2.29 | $1.04 | $0.00 | $0.99 |
| Growth | 32.1% | -456.8% | -177.7% | -55.0% | 120.7% | 35706.8% | -99.7% | -34.6% |
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| Dividends per share [+] | $2.89 | $3.34 | $2.74 | $2.69 | $2.39 | $2.85 | $2.50 | $1.60 |
| Growth | -13.5% | 21.8% | 2.1% | 12.4% | -16.1% | 14.0% | 56.6% | 17.8% |
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| Shares outstanding (basic) [+] | 1,010.0 | 1,027.0 | 1,051.0 | 906.0 | 761.0 | 393.0 | 338.0 | 99.0 |
| Growth | -1.7% | -2.3% | 16.0% | 19.1% | 93.6% | 16.3% | 241.4% | 30.3% |
| Shares outstanding (diluted) [+] | 1,010.0 | 1,027.0 | 1,051.0 | 907.0 | 761.0 | 396.0 | 345.0 | 100.0 |
| Growth | -1.7% | -2.3% | 15.9% | 19.2% | 92.2% | 14.8% | 245.0% | 31.6% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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