v3.24.3
Net Income Per Limited Partner Unit
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Net Income Per Limited Partner Unit Net Income Per Limited Partner Unit
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 and nine months ended September 30, 2024 and September 30, 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 and nine months ended September 30, 2024 and September 30, 2023 were less than 1 million.
Three Months Ended 
September 30,		Nine Months Ended 
September 30,
(In millions, except per unit data)2024202320242023
Net income attributable to MPLX LP(1):
$1,037 $918 $3,218 $2,794 
Less: Distributions declared on Series A preferred units6 25 21 71 
Distributions declared on Series B preferred units— — — 5 
Undistributed earnings allocated to participating securities— 1 7 9 
Impact of redemption of Series B preferred units— — — 5 
Net Income available to common unitholders$1,031 $892 $3,190 $2,704 
Weighted average units outstanding:
Basic1,020 1,001 1,016 1,001 
Diluted1,020 1,001 1,016 1,001 
Net income attributable to MPLX LP per limited partner unit:
Basic$1.01 $0.89 $3.14 $2.70 
Diluted$1.01 $0.89 $3.14 $2.70 
(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.