Summary
MPLX LP (MPLX) has filed an 8-K report on May 2, 2016, to retroactively present financial information related to its acquisition of Hardin Street Marine LLC (HSM). The acquisition, which closed on March 31, 2016, involved MPLX acquiring all membership interests in HSM from Marathon Petroleum Corporation (MPC) subsidiaries. HSM operates towboats, barges, and related equipment for transporting crude oil, feedstocks, and refined products, primarily serving MPC's refineries and terminals. This filing is primarily an amendment to its previously filed 2015 Form 10-K, restating selected financial data, management's discussion and analysis, and financial statements to incorporate the impact of the HSM acquisition. Investors should note that this 8-K does not introduce new events or update disclosures beyond what is necessary to reflect this specific transaction. The report emphasizes that other information in the 2015 10-K remains unchanged, and this filing should be read in conjunction with the original 10-K.
Key Highlights
- 1MPLX LP acquired Hardin Street Marine LLC (HSM) on March 31, 2016.
- 2HSM operates marine transportation assets (towboats, barges) for crude oil, feedstocks, and refined products.
- 3The acquisition is between MPLX and wholly-owned subsidiaries of Marathon Petroleum Corporation (MPC).
- 4This 8-K amends the previously filed 2015 Form 10-K to reflect the HSM acquisition.
- 5Restated financial information includes Selected Financial Data, MD&A, and Financial Statements from the 2015 10-K.
- 6The filing is for informational purposes regarding the HSM acquisition and does not update other prior disclosures.
- 7This report should be read in conjunction with MPLX's 2015 Form 10-K.