Assets and liabilities with related parties appearing in the Consolidated Balance Sheets are detailed in the table below. This table identifies the various components of related party assets and liabilities, including those associated with leases and deferred revenue on minimum volume commitments. If MPC fails to meet its minimum committed volumes, MPC will pay MPLX a deficiency payment based on the terms of the agreement. The deficiency amounts received under these agreements (excluding payments received under agreements classified as sales-type leases) are recorded as Current liabilities - related parties. In many cases, MPC may then apply the amount of any such deficiency payments as a credit for volumes in excess of its minimum volume commitment in future periods under the terms of the applicable agreements. MPLX recognizes related party revenues for the deficiency payments when credits are used for volumes in excess of minimum quarterly volume commitments, where it is probable the customer will not use the credit in future periods or upon the expiration of the credits. The use or expiration of the credits is a decrease in Current liabilities - related parties. Deficiency payments under agreements that have been classified as sales-type leases are recorded as a reduction against the corresponding lease receivable. In addition, capital projects MPLX undertakes at the request of MPC are reimbursed in cash and recognized as revenue over the remaining term of the applicable agreements or in some cases, as a contribution from MPC.


(In millions)	March 31, 2024		December 31, 2023
Current assets - related parties
Receivables	$	610	$	587
Lease receivables	162		149
Prepaid	23		5
Other	8		7
Total	803		748
Noncurrent assets - related parties
Long-term lease receivables	769		789
Right of use assets	227		227
Unguaranteed residual asset	139		126
Long-term receivables	16		19
Total	1,151		1,161
Current liabilities - related parties
MPC loan agreement and other payables(1)	261		278
Deferred revenue	89		81
Operating lease liabilities	1		1
Total	351		360
Long-term liabilities - related parties
Long-term operating lease liabilities	225		226
Long-term deferred revenue	95		99
Total	$	320	$	325