a

MMP
Magellan Midstream Partners
Icon Print
Oil & Gas
Midstream
Limited Partner
Exchange Listing Date 2/6/2001

Net Income Growth %

chart

value

Distribution Growth %

chart

value

Distribution Coverage Ratio

chart

value

Distributable Cash Flow (in thousands)

Year Over Year Quarter Over Quarter
6/30/2019 YoY % Change 6/30/2018 6/30/2019 QoQ % Change 3/31/2019
Net Income $253,703 18.33% $214,409 $253,703 22.17% $207,663
Plus:
Interest Expense$45,934 $50,762$45,934 $51,426
Depreciation and Amortization$590,966 $53,619$590,966 $53,876
Equity Based Incentive Compensation Expense$10,890 $10,047$10,890 $-2,653
Asset Retirements and Impairments $2,589 
Derivative Associated With Future Product Transactions $29,318 $11,479
Gain on exchange of interest in NCE  
Derivative Associated With Products Sold In This Period  $-20,412
Lower of Cost of Market Adjustments  
Houston to El Paso Cost of Sales Adj  
Other$13,833 $13,833 $3,644
Adjusted EBITDA $378,303 11.72% $338,621 $378,303 16.62% $324,388
Less:
Interest Expense$45,184 $49,928$45,184 $50,586
Maintenance CAPEX$18,325 $22,100$18,325 $14,860
Distributable Cash Flow $314,794 18.08% $266,593 $314,794 21.57% $258,942
Actual Distributions $229,545 $213,933 $229,545 $227,000
GP Distributions
Subordinated Distributions
Unit Holder Distributions $229,545 $213,933 $229,545
Distribution Coverage 1.37 x 1.25 x 1.37 x 1.14 x

Distributable Cash Flow (in thousands)

Year To Date
YTD 2019 Q2 2019 Q1
Net Income $461,366 $253,703 $207,663
Plus:
Interest Expense$97,360$45,934$51,426
Depreciation and Amortization$644,842$590,966$53,876
Equity Based Incentive Compensation Expense$8,237$10,890$-2,653
Asset Retirements and Impairments0
Derivative Associated With Future Product Transactions$11,479$11,479
Gain on exchange of interest in NCE0
Derivative Associated With Products Sold In This Period$-20,412$-20,412
Lower of Cost of Market Adjustments0
Houston to El Paso Cost of Sales Adj0
Other$17,477$13,833$3,644
Adjusted EBITDA $702,691 $378,303 $324,388
Less:
Interest Expense$95,770$45,184$50,586
Maintenance CAPEX$33,185$18,325$14,860
Distributable Cash Flow $573,736 $314,794 $258,942
Actual Distributions $456,545 $229,545 $227,000
GP Distributions 0
Subordinated Distributions 0
Unit Holder Distributions $229,545 $229,545
Distribution Coverage 1.26 x 1.37 x 1.14 x

Distributable Cash Flow (in thousands)

Trailing Twelve Month
TTM 2019 Q2 2019 Q1 2018 Q4 2018 Q3
Net Income $1,369,972 $253,703 $207,663 $314,072 $594,534
Plus:
Interest Expense$195,686$45,934$51,426$46,793$51,533
Depreciation and Amortization$804,421$590,966$53,876$103,351$56,228
Equity Based Incentive Compensation Expense$23,611$10,890$-2,653$7,441$7,933
Asset Retirements and Impairments$2,859$1,189$1,670
Derivative Associated With Future Product Transactions$-71,971$11,479$-81,930$-1,520
Gain on exchange of interest in NCE0
Derivative Associated With Products Sold In This Period$-44,727$-20,412$-24,315
Lower of Cost of Market Adjustments$9,011$9,011
Houston to El Paso Cost of Sales Adj0
Other$-335,261$13,833$3,644$-1,523$-351,215
Adjusted EBITDA $1,435,437 $378,303 $324,388 $374,089 $358,657
Less:
Interest Expense$192,530$45,184$50,586$46,019$50,741
Maintenance CAPEX$84,961$18,325$14,860$25,633$26,143
Distributable Cash Flow $1,157,946 $314,794 $258,942 $302,437 $281,773
Actual Distributions $898,103 $229,545 $227,000 $223,061 $218,497
GP Distributions 0
Subordinated Distributions 0
Unit Holder Distributions $734,379 $229,545 $223,061 $281,773
Distribution Coverage 1.29 x 1.37 x 1.14 x 1.35 x 1.29 x

Distributable Cash Flow (in thousands)

All History
 
TTM 2019 Q22019 Q12018 Q42018 Q32018 Q22018 Q12017 Q42017 Q32017 Q22017 Q12016 Q42016 Q32016 Q22016 Q12015 Q42015 Q32015 Q22015 Q12014 Q42014 Q32014 Q22014 Q12013 Q42013 Q32013 Q22013 Q12012 Q4
$1,369,972 $253,703 $207,663 $314,072 $594,534 $214,409 $222,736 $237,895 $198,500 $210,400 $222,736 $213,291 $194,551 $187,859 $207,070 $207,123 $250,973 $177,391 $183,636 $252,085 $198,620 $146,260 $242,554 $190,007 $125,623 $153,640 $112,967 $153,803
                            
$195,686 $45,934 $51,426 $46,793 $51,533 $50,762 $46,723 $50,657 $48,231 $48,107 $46,723 $45,047 $41,984 $41,152 $37,227 $35,198 $36,320 $36,271 $35,309 $33,863 $26,651 $31,356 $30,715 $31,211 $27,857 $30,277 $28,250 $27,736
$804,421 $590,966 $53,876 $103,351 $56,228 $53,619 $47,298 $50,527 $49,909 $48,896 $47,298 $44,005 $47,081 $43,302 $43,754 $42,632 $42,636 $41,080 $42,284 $39,845 $38,620 $47,499 $38,110 $37,246 $35,810 $34,726 $36,872 $33,855
$23,611 $10,890 $-2,653 $7,441 $7,933 $10,047 $-9,728 $6,458 $3,466 $6,570 $-9,728 $4,622 $4,677 $3,409 $-7,726 $9,019 $4,645 $5,788 $-13,033 $9,553 $4,978 $7,665 $-9,725 $9,584 $4,217 $5,425 $-7,403 $8,481
$2,859 N/A N/A $1,189 $1,670 $2,589 $3,461 $5,789 $2,250 $1,870 $3,461 $5,793 $2,134 $1,004 $-2,259 $3,492 $2,316 $2,087 $-3 $2,393 $1,520 $2,105 $1,205 $3,566 $1,971 $507 $1,791 $2,047
$-71,971 N/A $11,479 $-81,930 $-1,520 $29,318 $-23,773 $32,347 N/A $-5,955 $-23,773 $23,943 $5,871 N/A N/A $-14,674 $-68,293 $9,556 $4,537 $-75,939 $-39,246 $13,597 $-131 $1,280 $-2,770 $-8,096 $2,261 $-26
0 N/A N/A N/A N/A N/A N/A N/A N/A $10,725 N/A N/A N/A $-1,244 $-26,900 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
$-44,727 N/A $-20,412 $-24,315 N/A N/A N/A $-8,241 N/A N/A N/A $-5,600 $12,272 $16,823 $21,701 $21,076 $13,018 $26,682 $56,400 $17,120 $-3,817 $-1,931 $-5,250 $2,896 $1,301 $-1,556 $-5,250 $-1,629
$9,011 N/A N/A $9,011 N/A N/A N/A $-3,716 0 $1,983 N/A 0 $-1,083 N/A $-1,715 $4,360 $464 $-10,102 $-29,062 $36,856 $2,453 0 0 $-1,506 $-551 $2,057 $-2,000 $2,000
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 0 0 0 0 0 0 0 $-6,389
$-335,261 $13,833 $3,644 $-1,523 $-351,215 N/A $1,450 $5,697 $19,995 $1,450 $1,609 $1,450 $1,315 $2,040 $2,416 $7,032 $9,974 $-7,140 $4,866 $-12,217 $1,659 $1,438 $396 $2,519 $2,011 $362 $-1,279 $4,413
$1,435,437 $378,303 $324,388 $374,089 $358,657 $338,621 $288,326 $377,413 $313,290 $323,909 $288,326 $338,841 $311,750 $292,520 $270,132 $315,258 $292,053 $281,613 $284,934 $303,559 $231,438 $247,989 $297,874 $288,343 $195,469 $217,342 $166,264 $224,291
                            
$192,530 $45,184 $50,586 $46,019 $50,741 $49,928 $45,897 $49,824 $47,403 $47,279 $45,897 $44,222 $41,171 $40,435 $36,513 $34,352 $36,320 $36,271 $35,309 $33,863 $26,651 $31,356 $30,715 $31,211 $27,857 $30,277 $28,250 $27,736
$84,961 $18,325 $14,860 $25,633 $26,143 $22,100 $14,829 $19,331 $30,737 $26,266 $14,829 $17,404 $26,657 $31,164 $28,282 $24,010 $25,686 $22,513 $16,501 $21,641 $21,401 $20,787 $13,977 $20,562 $22,533 $18,878 $14,108 $17,202
$1,157,946 $314,794 $258,942 $302,437 $281,773 $266,593 $227,600 $308,258 $235,150 $250,364 $227,600 $277,215 $243,992 $221,011 $205,337 $256,896 $230,047 $222,829 $233,124 $248,055 $183,386 $195,846 $253,182 $236,570 $145,079 $168,187 $123,906 $179,353
$898,103 $229,545 $227,000 $223,061 $218,497 $213,933 $209,940 $206,362 $203,033 $198,860 $194,961 $190,770 $186,784 $182,796 $178,808 $173,413 $168,296 $163,178 $158,061 $151,569 $145,323 $139,079 $132,835 $126,950 $120,747 $115,040 $113,300 $110,974
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
$734,379 $229,545 N/A $223,061 $281,773 $213,933 $209,940 $206,362 $203,033 $198,860 $194,961 $190,770 $186,784 $182,796 $178,808 $173,413 $168,296 $163,178 $158,061 $151,569 $145,323 $139,079 $132,835 $126,950 $120,747 $115,040 $113,300 N/A
1.29 x 1.37 x 1.14 x 1.35 x 1.29 x 1.25 x 1.08 x 1.49 x 1.16 x 1.26 x 1.16 x 1.45 x 1.30 x 1.21 x 1.15 x 1.48 x 1.37 x 1.37 x 1.47 x 1.64 x 1.26 x 1.41 x 1.91 x 1.86 x 1.20 x 1.46 x 1.09 x 1.49 x
Net Income
Plus:
Interest Expense
Depreciation and Amortization
Equity Based Incentive Compensation Expense
Asset Retirements and Impairments
Derivative Associated With Future Product Transactions
Gain on exchange of interest in NCE
Derivative Associated With Products Sold In This Period
Lower of Cost of Market Adjustments
Houston to El Paso Cost of Sales Adj
Other
Adjusted EBITDA
Less:
Interest Expense
Maintenance CAPEX
Distributable Cash Flow
Actual Distributions
GP Distributions
Subordinated Distributions
Unit Holder Distributions
Distribution Coverage
 

No Incentive Distribution Rights to the General Partner. Distributions are made only to common class and unit holders.