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10-Q Filing

PLAINS ALL AMERICAN PIPELINE LP CIK: 1070423 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001070423-22-000012
Period End Date 20220331
Filing Date 20220510
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance paa-20220331_htm.xml
Balance Sheet 60 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $449.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.00M USD Point-in-time
Trade accounts receivable and other receivables, net ReceivablesNetCurrent $4.71B USD Point-in-time
Trade accounts receivable and other receivables, net ReceivablesNetCurrent $7.14B USD Point-in-time
Inventory InventoryNet $783.00M USD Point-in-time
Inventory InventoryNet $527.00M USD Point-in-time
Other current assets OtherAssetsCurrent $320.00M USD Point-in-time
Other current assets OtherAssetsCurrent $200.00M USD Point-in-time
Total current assets AssetsCurrent $6.14B USD Point-in-time
Total current assets AssetsCurrent $8.10B USD Point-in-time
PROPERTY AND EQUIPMENT PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization $19.26B USD Point-in-time
PROPERTY AND EQUIPMENT PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization $19.40B USD Point-in-time
Accumulated depreciation PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization $4.54B USD Point-in-time
Accumulated depreciation PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization $4.35B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $14.90B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $14.86B USD Point-in-time
Investments in unconsolidated entities EquityMethodInvestments $3.81B USD Point-in-time
Investments in unconsolidated entities EquityMethodInvestments $3.81B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.90B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $1.96B USD Point-in-time
Linefill Linefill $919.00M USD Point-in-time
Linefill Linefill $907.00M USD Point-in-time
Long-term operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $387.00M USD Point-in-time
Long-term operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $393.00M USD Point-in-time
Long-term inventory InventoryNoncurrent $374.00M USD Point-in-time
Long-term inventory InventoryNoncurrent $253.00M USD Point-in-time
Other long-term assets, net OtherAssetsNoncurrent $293.00M USD Point-in-time
Other long-term assets, net OtherAssetsNoncurrent $251.00M USD Point-in-time
Total assets Assets $30.64B USD Point-in-time
Total assets Assets $28.61B USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $6.87B USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $4.81B USD Point-in-time
Short-term debt DebtCurrent $822.00M USD Point-in-time
Short-term debt DebtCurrent $900.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $600.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $803.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $8.57B USD Point-in-time
Total current liabilities LiabilitiesCurrent $6.23B USD Point-in-time
Senior notes, net SeniorLongTermNotes $7.93B USD Point-in-time
Senior notes, net SeniorLongTermNotes $8.33B USD Point-in-time
Other long-term debt, net OtherLongTermDebtNoncurrent $69.00M USD Point-in-time
Other long-term debt, net OtherLongTermDebtNoncurrent $55.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $331.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $339.00M USD Point-in-time
Other long-term liabilities and deferred credits OtherLiabilitiesNoncurrent $830.00M USD Point-in-time
Other long-term liabilities and deferred credits OtherLiabilitiesNoncurrent $901.00M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $9.57B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $9.22B USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 10) CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 10) CommitmentsAndContingencies - USD Point-in-time
Total partners capital excluding noncontrolling interests PartnersCapital $10.04B USD Point-in-time
Total partners capital excluding noncontrolling interests PartnersCapital $9.97B USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $2.84B USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $2.81B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $10.08B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $12.81B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $12.85B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $9.74B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $28.61B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $30.64B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Interest expense, capitalized interest InterestCostsCapitalized $5.00M USD 1 Quarter
Interest expense, capitalized interest InterestCostsCapitalized $1.00M USD 1 Quarter
Total revenues Revenues $8.38B USD 1 Quarter
Total revenues Revenues $13.69B USD 1 Quarter
Purchases and related costs CostOfGoodsAndServicesSold $12.79B USD 1 Quarter
Purchases and related costs CostOfGoodsAndServicesSold $7.39B USD 1 Quarter
Field operating costs OperatingCostsAndExpenses $219.00M USD 1 Quarter
Field operating costs OperatingCostsAndExpenses $346.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $82.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $67.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $177.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $230.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net GainLossOnSalesOfAssetsAndAssetImpairmentCharges $42.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-2.00M USD 1 Quarter
Total costs and expenses CostsAndExpenses $7.86B USD 1 Quarter
Total costs and expenses CostsAndExpenses $13.40B USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $526.00M USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $293.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $88.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $97.00M USD 1 Quarter
Interest expense (net of capitalized interest of $1 and $5, respectively) InterestExpense $107.00M USD 1 Quarter
Interest expense (net of capitalized interest of $1 and $5, respectively) InterestExpense $107.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-60.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-37.00M USD 1 Quarter
INCOME BEFORE TAX IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $246.00M USD 1 Quarter
INCOME BEFORE TAX IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $447.00M USD 1 Quarter
Current income tax expense CurrentIncomeTaxExpenseBenefit $1.00M USD 1 Quarter
Current income tax expense CurrentIncomeTaxExpenseBenefit $19.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $2.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $23.00M USD 1 Quarter
NET INCOME ProfitLoss $225.00M USD 1 Quarter
NET INCOME ProfitLoss $423.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $38.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO PAA NetIncomeLoss $187.00M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO PAA NetIncomeLoss $422.00M USD 1 Quarter
Net income allocated to common unitholders - Basic NetIncomeLossAllocatedToCommonUnitholdersBasic $371.00M USD 1 Quarter
Net income allocated to common unitholders - Basic NetIncomeLossAllocatedToCommonUnitholdersBasic $137.00M USD 1 Quarter
Net income allocated to common unitholders - Diluted NetIncomeLossAllocatedtoCommonUnitholdersDiluted $137.00M USD 1 Quarter
Net income allocated to common unitholders - Diluted NetIncomeLossAllocatedtoCommonUnitholdersDiluted $371.00M USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $225.00M USD 1 Quarter
Net income ProfitLoss $423.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $177.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $230.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net GainLossOnSalesOfAssetsAndAssetImpairmentCharges $42.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-2.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $2.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $23.00M USD 1 Quarter
Change in fair value of Preferred Distribution Rate Reset Option (Note 8) EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet $-44.00M USD 1 Quarter
Change in fair value of Preferred Distribution Rate Reset Option (Note 8) EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet $-67.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $88.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $97.00M USD 1 Quarter
Distributions on earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $110.00M USD 1 Quarter
Distributions on earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $96.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-6.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-4.00M USD 1 Quarter
Changes in assets and liabilities, net of acquisitions IncreaseDecreaseInOperatingCapital $122.00M USD 1 Quarter
Changes in assets and liabilities, net of acquisitions IncreaseDecreaseInOperatingCapital $-71.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $791.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $340.00M USD 1 Quarter
Investments in unconsolidated entities CapitalContributionsToEquityMethodInvestees $35.00M USD 1 Quarter
Investments in unconsolidated entities CapitalContributionsToEquityMethodInvestees $3.00M USD 1 Quarter
Additions to property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $97.00M USD 1 Quarter
Additions to property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $101.00M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $21.00M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $53.00M USD 1 Quarter
Cash paid for purchases of linefill CashPaidRelatedToPurchasesOfLinefill - USD 1 Quarter
Cash paid for purchases of linefill CashPaidRelatedToPurchasesOfLinefill $39.00M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-3.00M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-9.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-108.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-81.00M USD 1 Quarter
Net borrowings/(repayments) under commercial paper program (Note 6) ProceedsFromRepaymentsOfCommercialPaper $382.00M USD 1 Quarter
Net borrowings/(repayments) under commercial paper program (Note 6) ProceedsFromRepaymentsOfCommercialPaper $-410.00M USD 1 Quarter
Net repayments under senior secured hedged inventory facility (Note 6) NetProceedsFromRepaymentsOfHedgedInventoryFacility - USD 1 Quarter
Net repayments under senior secured hedged inventory facility (Note 6) NetProceedsFromRepaymentsOfHedgedInventoryFacility $-166.00M USD 1 Quarter
Repayments of senior notes RepaymentsOfSeniorDebt $750.00M USD 1 Quarter
Repayments of senior notes RepaymentsOfSeniorDebt - USD 1 Quarter
Repurchase of common units (Note 7) PaymentsForRepurchaseOfCommonStock $25.00M USD 1 Quarter
Repurchase of common units (Note 7) PaymentsForRepurchaseOfCommonStock $3.00M USD 1 Quarter
Distributions paid to noncontrolling interests (Note 7) PaymentsToMinorityShareholders $59.00M USD 1 Quarter
Distributions paid to noncontrolling interests (Note 7) PaymentsToMinorityShareholders $6.00M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $65.00M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $19.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-687.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-597.00M USD 1 Quarter
Effect of translation adjustment EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents - USD 1 Quarter
Effect of translation adjustment EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.00M USD 1 Quarter
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-335.00M USD 1 Quarter
Net decrease in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.00M USD 1 Quarter
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $56.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $60.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $453.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $118.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $56.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $60.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $453.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $118.00M USD Point-in-time
Interest, net of amounts capitalized InterestPaidNet $65.00M USD 1 Quarter
Interest, net of amounts capitalized InterestPaidNet $74.00M USD 1 Quarter
Income taxes, net of amounts refunded IncomeTaxesPaidNet $24.00M USD 1 Quarter
Income taxes, net of amounts refunded IncomeTaxesPaidNet $23.00M USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $10.08B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $12.81B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $12.85B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $9.74B USD Point-in-time
Net income ProfitLoss $225.00M USD 1 Quarter
Net income ProfitLoss $423.00M USD 1 Quarter
Distributions (Note 7) PartnersCapitalAccountDistributions $185.00M USD 1 Quarter
Distributions (Note 7) PartnersCapitalAccountDistributions $235.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $74.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $108.00M USD 1 Quarter
Repurchase of common units (Note 7) StockRepurchasedDuringPeriodValue $25.00M USD 1 Quarter
Repurchase of common units (Note 7) StockRepurchasedDuringPeriodValue $3.00M USD 1 Quarter
Contributions from noncontrolling interests PartnersCapitalAccountContributions $1.00M USD 1 Quarter
Other PartnersCapitalOther $2.00M USD 1 Quarter
Other PartnersCapitalOther $5.00M USD 1 Quarter
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $10.08B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $12.81B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $12.85B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $9.74B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $225.00M USD 1 Quarter
Net income ProfitLoss $423.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $74.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $108.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $531.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $299.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $38.00M USD 1 Quarter
Comprehensive income attributable to PAA ComprehensiveIncomeNetOfTax $530.00M USD 1 Quarter
Comprehensive income attributable to PAA ComprehensiveIncomeNetOfTax $261.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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