SEC Comment Letter for MPLX LP (MPLX, MPLXP) (CIK 0001552000) (MPLX) — May 7, 2021
MPLX LP (MPLX, MPLXP) (CIK 0001552000)
Date: May 7, 2021 · CIK: 0001552000 · Accession: 0000000000-21-005887
AI Filing Summary & Sentiment
File numbers found in text: 001-35714
Letter
United States securities and exchange commission logo May 7, 2021 Pamela Beall Director, Executive Vice President and Chief Financial Officer MPLX LP 200 E. Hardin Street Findlay, OH 45840-3229 Re:MPLX LP Form 10-K for the Fiscal Year Ended December 31, 2020 Filed February 26, 2021 File No. 001-35714 Dear Ms. Beall : We have reviewed your filing and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the Fiscal Year Ended December 31, 2020 Financial Statements 6. Related Party Agreements and Transactions, page 121 1.We have read your disclosure on page 87 that states, “We believe that transactions with related parties are conducted under terms comparable to those with unrelated parties.” This appears to imply that the related party transactions are conducted on an arm’s length basis. Representations about transactions with related parties shall not imply that related party transactions were consummated on terms equivalent to those that prevail in arm's length transactions unless such representations can be substantiated. Revise your disclosure to either substantiate your belief or remove this assertion, as appropriate. Refer to ASC 850-10-50-5. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.
FirstName LastNamePamela Beall Comapany NameMPLX LP May 7, 2021 Page 2 FirstName LastName Pamela Beall MPLX LP May 7, 2021 Page 2 You may contact Robert Babula, Staff Accountant at (202) 551-3339, or Gus Rodriguez, Branch Chief at (202) 551-3752 if you have questions regarding this comment on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Energy & Transportation
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United States securities and exchange commission logo
May 7, 2021
Pamela Beall
Director, Executive Vice President and Chief Financial Officer
MPLX LP
200 E. Hardin Street
Findlay, OH 45840-3229
Re:MPLX LP
Form 10-K for the Fiscal Year Ended December 31, 2020
Filed February 26, 2021
File No. 001-35714
Dear Ms. Beall :
We have reviewed your filing and have the following comment. In our comment, we
may ask you to provide us with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 10-K for the Fiscal Year Ended December 31, 2020
Financial Statements
6. Related Party Agreements and Transactions, page 121
1.We have read your disclosure on page 87 that states, “We believe that transactions with
related parties are conducted under terms comparable to those with unrelated parties.”
This appears to imply that the related party transactions are conducted on an arm’s length
basis. Representations about transactions with related parties shall not imply that related
party transactions were consummated on terms equivalent to those that prevail in arm's
length transactions unless such representations can be substantiated. Revise your
disclosure to either substantiate your belief or remove this assertion, as appropriate. Refer
to ASC 850-10-50-5.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
FirstName LastNamePamela Beall
Comapany NameMPLX LP
May 7, 2021 Page 2
FirstName LastName
Pamela Beall
MPLX LP
May 7, 2021
Page 2
You may contact Robert Babula, Staff Accountant at (202) 551-3339, or Gus Rodriguez,
Branch Chief at (202) 551-3752 if you have questions regarding this comment on the financial
statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Energy & Transportation