Fourth Quarter 2014 Earnings Conference Call and Webcast February 4, 2015 1
Highlights Reported adjusted EBITDA of 42.4 million and distributable cash flow of 32.1 million Declared distribution of 0.3825 per common unit, 22.4 percent over fourth-quarter 2013 Growth plan supports mid-20 percent average…
Net Income 4Q 2014 vs. 4Q 2013 Variance Analysis 60 2.3 0.6 50 6.8 3.8 (5.7) 40 36.8 (4.4) 36.4 (1.9) (1.9) MM 30 29.2 (7.2) 20 10 0 4Q 2013 Deferred Tariffs Volumes Other Cost of G&A Interest and Other 4Q…
Net Income 2014 vs. 2013 Variance Analysis 250 29.7 4.5 200 (12.4) 40.2 (9.4) (11.1) 178.1 (4.2) (5.3) 150 146.1 MM 121.3 (56.8) 100 50 0 2013 Deferred Tariffs Volumes Other Cost of G&A Interest and Other…
Adjusted EBITDA and Distributable Cash Flow (MM) 4Q 2014 4Q 2013 Adjusted EBITDA 51.8 49.7 Less: Adjusted EBITDA attributable to MPC-retained interest 9.4 20.8 Adjusted EBITDA attributable to MPLX LP 42.4 28.9 Plus: Current period…
Select Balance Sheet and Financial Data As of (MM except ratio data) 12/31/14 Cash and cash equivalents 27.3 Total assets 1,214.5 Long-term debt(a) 644.8 Total equity 463.7 Consolidated total debt to consolidated EBITDA ratio…
Significant Capital Plan Major growth projects 2015 Capital Plan Cornerstone Pipeline and Utica build-out 260 MM Patoka to Lima capacity expansion Maintenance Robinson butane cavern 38 MM Maintenance capital 16% of 2014…
Distribution Growth per Unit 1st drop 2nd drop 3rd drop IPO 3/1/2014 12/1/2014 10/31/2012 5/1/2013 100 MM 310 MM 800 MM 0.40 0.38 0.36 0.34 0.32 /Unit 0.30 0.3825 0.28 0.3575 0.3425 0.26 0.3275 0.3125 0.2975 0.24…
Appendix 11
Adjusted EBITDA and Distributable Cash Flow Reconciliation from Net Income (MM) 4Q 2012* 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 Net income 26.3 35.3 34.8 39.2 36.8 55.7 42.9 43.1 36.4 Less: Net income…
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