Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Operating activities: |
|
|
|
| Net income |
$ 235
|
|
$ 101
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Amortization of deferred financing costs and debt discount |
18
|
|
15
|
| Depreciation and amortization |
528
|
|
536
|
| Pension and other postretirement benefits, net |
32
|
|
27
|
| Deferred income taxes |
(19)
|
|
(5)
|
| Net gain on disposal of assets |
(2)
|
|
(5)
|
| Income from equity method investments |
(86)
|
|
(57)
|
| Distributions from equity method investments |
89
|
|
56
|
| Changes in the fair value of derivative instruments |
(14)
|
|
28
|
| Changes in: |
|
|
|
| Current receivables |
96
|
|
333
|
| Inventories |
440
|
|
264
|
| Current accounts payable and accrued liabilities |
(1,455)
|
|
(215)
|
| All other, net |
1
|
|
30
|
| Net cash provided by (used in) operating activities |
(137)
|
|
1,108
|
| Investing activities: |
|
|
|
| Additions to property, plant and equipment |
(755)
|
|
(610)
|
| Acquisitions, net of cash acquired |
0
|
|
(220)
|
| Disposal of assets |
7
|
|
2
|
| Investments – acquisitions, loans and contributions |
(41)
|
|
(566)
|
| Investments - redemptions, repayments and return of capital |
0
|
|
20
|
| All other, net |
11
|
|
21
|
| Net cash used in investing activities |
(778)
|
|
(1,353)
|
| Financing activities: |
|
|
|
| Commercial paper – issued |
0
|
|
300
|
| Commercial paper - repayments |
0
|
|
(300)
|
| Long-term debt – borrowings |
9,610
|
|
2,241
|
| Long-term debt – repayments |
(5,264)
|
|
(207)
|
| Debt issuance costs |
(53)
|
|
(21)
|
| Issuance of common stock |
12
|
|
10
|
| Common stock repurchased |
(1,327)
|
|
(420)
|
| Dividends paid |
(219)
|
|
(190)
|
| Issuance of MPLX LP common units |
0
|
|
148
|
| Distributions to noncontrolling interests |
(195)
|
|
(158)
|
| Contributions from noncontrolling interests |
1
|
|
126
|
| All other, net |
(8)
|
|
(6)
|
| Net cash provided by financing activities |
2,557
|
|
1,523
|
| Net increase in cash, cash equivalents and restricted cash |
1,642
|
|
1,278
|
| Cash, cash equivalents and restricted cash at beginning of period |
3,015
|
[1] |
892
|
| Cash, cash equivalents and restricted cash at end of period |
$ 4,657
|
[1] |
$ 2,170
|
|
|