Net income per unit applicable to common units is computed by dividing net income attributable to MPLX LP less income allocated to participating securities by the weighted average number of common units outstanding.

During the three months ended March 31, 2024 and March 31, 2023, MPLX had participating securities consisting of common units, certain equity-based compensation awards, Series A preferred units, and Series B preferred units and also had dilutive potential common units consisting of certain equity-based compensation awards. Potential common units omitted from the diluted earnings per unit calculation for the three months ended March 31, 2024 and March 31, 2023 were less than 1 million.


	Three Months Ended March 31,
(In millions, except per unit data)	2024		2023
Net income attributable to MPLX LP(1):	$	1,005	$	943
Less: Distributions declared on Series A preferred units	10		23
Distributions declared on Series B preferred units	—		5
Undistributed earnings allocated to participating securities	3		4
Impact of redemption of Series B preferred units	—		5
Net Income available to common unitholders	$	992	$	906
Weighted average units outstanding:
Basic	1,008		1,001
Diluted	1,008		1,001
Net income attributable to MPLX LP per limited partner unit:
Basic	$	0.98	$	0.91
Diluted	$	0.98	$	0.91

(1) Allocation of net income attributable to MPLX LP assumes all earnings for the period have been distributed based on the distribution priorities applicable to the period.