Fourth Quarter 2013 Earnings Conference Call and Webcast January 29, 2014 1
Highlights Fourth quarter and full-year results consistent with expectations Increased quarterly cash distribution by 0.0150, or 5%, to 0.3125 per unit, 19% over minimum quarterly distribution Continuing to target annual distribution…
Significant Capital Expenditures Major expansion projects Cornerstone Pipeline Southern Access Extension connection 2014 Capex Budget* Two Rivers Pipeline capacity expansion Midwest infrastructure projects Maintenance 35 MM…
Net Income Variance Analysis - 4Q 2013 Actual vs. 4Q 2013 Estimated per S-1 50 (16.4) 7.0 45 38.5 3.3 (1.7) 40 36.8 (16.6) 6.1 35 30 MM 25 20.2 20 15 10 5 0 4Q 2013 Tariffs Volumes Other Cost of Other 4Q 2013 MPC…
MPLX Adjusted EBITDA and Distributable Cash Flow Actual Estimated Actual Estimated (MM) 4Q 2013 4Q 2013* 2013 2013* Adjusted EBITDA 49.7 49.6 197.3 197.0 Less: Adjusted EBITDA attributable to MPC-retained interest 20.8 23.3 86.1 92.2…
MPLX Strong Financial Flexibility to Manage and Grow Asset Base MPLXs undrawn 500 million revolver provides significant liquidity to grow its business As of (MM except ratio data) 12/31/13 Cash and cash equivalents 54.1 Total…
Distribution Growth per Unit IPO 1st drop 10/2012 5/2013 0.32 0.30 5.0% Growth 4.4% Growth 0.28 4.6% Growth /Unit 3.8% Growth 0.26 0.3125 0.2975 0.24 0.2850 0.2725 0.2625* 0.22 0.20 4Q12 1Q13 2Q13 3Q13 4Q13…
Appendix 10
MPLX LP Adjusted EBITDA and Distributable Cash Flow Reconciliation from Net Income Actual Estimated Actual Estimated (MM except ratio data) 4Q 2013 4Q 2013* 2013 2013* Net income 36.8 38.5 146.1 152.4 Less: Net income attributable to…
MPLX Deficiency Payment Effect Example for illustrative purposes only Quarter Quarter Quarter Quarter Quarter Quarter Quarter (MM) 1 2 3 4 5 6 7 Quarterly deficiency payment 2 5 3 5 - - - Use or expiration of credit (on or before) -…
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