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10-Q Filing

PLAINS GP HOLDINGS LP CIK: 1581990 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001581990-20-000019
Period End Date 20200331
Filing Date 20200508
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance pagp-20200331_htm.xml
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $47.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $40.00M USD Point-in-time
Restricted cash RestrictedCashCurrent $37.00M USD Point-in-time
Restricted cash RestrictedCashCurrent $122.00M USD Point-in-time
Trade accounts receivable and other receivables, net ReceivablesNetCurrent $3.61B USD Point-in-time
Trade accounts receivable and other receivables, net ReceivablesNetCurrent $2.20B USD Point-in-time
Inventory InventoryNet $604.00M USD Point-in-time
Inventory InventoryNet $181.00M USD Point-in-time
Other current assets OtherAssetsCurrent $312.00M USD Point-in-time
Other current assets OtherAssetsCurrent $530.00M USD Point-in-time
Total current assets AssetsCurrent $4.61B USD Point-in-time
Total current assets AssetsCurrent $3.07B USD Point-in-time
PROPERTY AND EQUIPMENT PropertyPlantAndEquipmentGross $17.96B USD Point-in-time
PROPERTY AND EQUIPMENT PropertyPlantAndEquipmentGross $18.98B USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $3.55B USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $3.62B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $15.37B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $14.41B USD Point-in-time
Investments in unconsolidated entities EquityMethodInvestments $3.71B USD Point-in-time
Investments in unconsolidated entities EquityMethodInvestments $3.68B USD Point-in-time
Goodwill Goodwill $2.54B USD Point-in-time
Goodwill Goodwill - USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $1.46B USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $1.28B USD Point-in-time
Linefill and base gas LinefillAndBaseGas $955.00M USD Point-in-time
Linefill and base gas LinefillAndBaseGas $981.00M USD Point-in-time
Long-term operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $466.00M USD Point-in-time
Long-term operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $430.00M USD Point-in-time
Long-term inventory InventoryNoncurrent $182.00M USD Point-in-time
Long-term inventory InventoryNoncurrent $73.00M USD Point-in-time
Other long-term assets, net OtherAssetsNoncurrent $856.00M USD Point-in-time
Other long-term assets, net OtherAssetsNoncurrent $1.05B USD Point-in-time
Total assets Assets $25.17B USD Point-in-time
Total assets Assets $29.97B USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $3.69B USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $2.25B USD Point-in-time
Short-term debt DebtCurrent $363.00M USD Point-in-time
Short-term debt DebtCurrent $504.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $828.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $750.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.36B USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.02B USD Point-in-time
Senior notes, net SeniorLongTermNotes $8.94B USD Point-in-time
Senior notes, net SeniorLongTermNotes $8.94B USD Point-in-time
Other long-term debt, net OtherLongTermDebtNoncurrent $248.00M USD Point-in-time
Other long-term debt, net OtherLongTermDebtNoncurrent $477.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $370.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $387.00M USD Point-in-time
Other long-term liabilities and deferred credits LiabilitiesOtherThanLongtermDebtNoncurrent $833.00M USD Point-in-time
Other long-term liabilities and deferred credits LiabilitiesOtherThanLongtermDebtNoncurrent $891.00M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $10.62B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $10.46B USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 12) CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 12) CommitmentsAndContingencies - USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $12.33B USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $9.73B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.48B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $11.19B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.02B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $13.32B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $29.97B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $25.17B USD Point-in-time
Income Statement 39 line items
Line Item Tag Value Unit Period
Interest expense, capitalized interest InterestCostsCapitalized $11.00M USD 1 Quarter
Interest expense, capitalized interest InterestCostsCapitalized $6.00M USD 1 Quarter
Total revenues Revenues $8.38B USD 1 Quarter
Total revenues Revenues $8.27B USD 1 Quarter
Purchases and related costs CostOfGoodsAndServicesSold $7.12B USD 1 Quarter
Purchases and related costs CostOfGoodsAndServicesSold $7.37B USD 1 Quarter
Field operating costs OperatingCostsAndExpenses $326.00M USD 1 Quarter
Field operating costs OperatingCostsAndExpenses $304.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $77.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $70.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $136.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $169.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net (Note 14) GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-4.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net (Note 14) GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-619.00M USD 1 Quarter
Goodwill impairment losses (Note 6) GoodwillImpairmentLoss $2.52B USD 1 Quarter
Total costs and expenses CostsAndExpenses $7.66B USD 1 Quarter
Total costs and expenses CostsAndExpenses $11.04B USD 1 Quarter
OPERATING INCOME/(LOSS) OperatingIncomeLoss $-2.77B USD 1 Quarter
OPERATING INCOME/(LOSS) OperatingIncomeLoss $713.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $110.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $89.00M USD 1 Quarter
Gain on/(impairment of) investments in unconsolidated entities, net (Note 7) GainLossAndImpairmentOnInvestmentInUnconsolidatedEntitiesNet $-22.00M USD 1 Quarter
Gain on/(impairment of) investments in unconsolidated entities, net (Note 7) GainLossAndImpairmentOnInvestmentInUnconsolidatedEntitiesNet $267.00M USD 1 Quarter
Interest expense (net of capitalized interest of $6 and $11, respectively) InterestExpense $108.00M USD 1 Quarter
Interest expense (net of capitalized interest of $6 and $11, respectively) InterestExpense $101.00M USD 1 Quarter
Other income/(expense), net OtherNonoperatingIncomeExpense $-31.00M USD 1 Quarter
Other income/(expense), net OtherNonoperatingIncomeExpense $25.00M USD 1 Quarter
INCOME/(LOSS) BEFORE TAX IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.83B USD 1 Quarter
INCOME/(LOSS) BEFORE TAX IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $993.00M USD 1 Quarter
Current income tax expense CurrentIncomeTaxExpenseBenefit $6.00M USD 1 Quarter
Current income tax expense CurrentIncomeTaxExpenseBenefit $30.00M USD 1 Quarter
Deferred income tax (expense)/benefit DeferredIncomeTaxExpenseBenefit $49.00M USD 1 Quarter
Deferred income tax (expense)/benefit DeferredIncomeTaxExpenseBenefit $-140.00M USD 1 Quarter
NET INCOME/(LOSS) ProfitLoss $-2.69B USD 1 Quarter
NET INCOME/(LOSS) ProfitLoss $914.00M USD 1 Quarter
Net (income)/loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $767.00M USD 1 Quarter
Net (income)/loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-2.11B USD 1 Quarter
NET INCOME/(LOSS) ATTRIBUTABLE TO PAGP NetIncomeLoss $147.00M USD 1 Quarter
NET INCOME/(LOSS) ATTRIBUTABLE TO PAGP NetIncomeLoss $-581.00M USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income/(loss) ProfitLoss $-2.69B USD 1 Quarter
Net income/(loss) ProfitLoss $914.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $136.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $169.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net (Note 14) GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-4.00M USD 1 Quarter
(Gains)/losses on asset sales and asset impairments, net (Note 14) GainLossOnSalesOfAssetsAndAssetImpairmentCharges $-619.00M USD 1 Quarter
Goodwill impairment losses (Note 6) GoodwillImpairmentLoss $2.52B USD 1 Quarter
Equity-indexed compensation expense/(benefit) AllocatedShareBasedCompensationExpense $-4.00M USD 1 Quarter
Equity-indexed compensation expense/(benefit) AllocatedShareBasedCompensationExpense $17.00M USD 1 Quarter
Inventory valuation adjustments InventoryWriteDown $232.00M USD 1 Quarter
Deferred income tax expense/(benefit) DeferredIncomeTaxExpenseBenefit $49.00M USD 1 Quarter
Deferred income tax expense/(benefit) DeferredIncomeTaxExpenseBenefit $-140.00M USD 1 Quarter
Loss on foreign currency revaluation ForeignCurrencyTransactionGainLossBeforeTax $-46.00M USD 1 Quarter
Loss on foreign currency revaluation ForeignCurrencyTransactionGainLossBeforeTax $-4.00M USD 1 Quarter
Change in fair value of Preferred Distribution Rate Reset Option (Note 10) EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet $26.00M USD 1 Quarter
Change in fair value of Preferred Distribution Rate Reset Option (Note 10) EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet $23.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $110.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $89.00M USD 1 Quarter
Distributions on earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $125.00M USD 1 Quarter
Distributions on earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $98.00M USD 1 Quarter
(Gain on)/impairment of investments in unconsolidated entities, net (Note 7) GainLossAndImpairmentOnInvestmentInUnconsolidatedEntitiesNet $-22.00M USD 1 Quarter
(Gain on)/impairment of investments in unconsolidated entities, net (Note 7) GainLossAndImpairmentOnInvestmentInUnconsolidatedEntitiesNet $267.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-7.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-5.00M USD 1 Quarter
Changes in assets and liabilities, net of acquisitions IncreaseDecreaseInOperatingCapital $-128.00M USD 1 Quarter
Changes in assets and liabilities, net of acquisitions IncreaseDecreaseInOperatingCapital $-182.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $889.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.03B USD 1 Quarter
Cash paid in connection with acquisitions, net of cash acquired (Note 14) PaymentsToAcquireBusinessesAndInterestInAffiliates $308.00M USD 1 Quarter
Investments in unconsolidated entities CapitalContributionsToEquityMethodInvestees $125.00M USD 1 Quarter
Investments in unconsolidated entities CapitalContributionsToEquityMethodInvestees $147.00M USD 1 Quarter
Additions to property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $245.00M USD 1 Quarter
Additions to property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $280.00M USD 1 Quarter
Proceeds from sales of assets (Note 14) ProceedsFromSaleOfProductiveAssets $104.00M USD 1 Quarter
Cash paid for purchases of linefill and base gas CashPaidRelatedToPurchasesOfLinefillAndBaseGas $16.00M USD 1 Quarter
Cash paid for purchases of linefill and base gas CashPaidRelatedToPurchasesOfLinefillAndBaseGas $5.00M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $8.00M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $9.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-610.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-429.00M USD 1 Quarter
Net repayments under PAA commercial paper program (Note 8) ProceedsFromRepaymentsOfCommercialPaper $-93.00M USD 1 Quarter
Net borrowings under PAA senior secured hedged inventory facility (Note 8) NetProceedsFromRepaymentsOfHedgedInventoryFacility $89.00M USD 1 Quarter
Distributions paid to Class A shareholders (Note 9) DistributionMadeToLimitedPartnerCashDistributionsPaid $66.00M USD 1 Quarter
Distributions paid to Class A shareholders (Note 9) DistributionMadeToLimitedPartnerCashDistributionsPaid $48.00M USD 1 Quarter
Distributions paid to noncontrolling interests (Note 9) PaymentsOfDividendsMinorityInterest $207.00M USD 1 Quarter
Distributions paid to noncontrolling interests (Note 9) PaymentsOfDividendsMinorityInterest $233.00M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $112.00M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $58.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-191.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-197.00M USD 1 Quarter
Effect of translation adjustment EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-3.00M USD 1 Quarter
Effect of translation adjustment EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-10.00M USD 1 Quarter
Net increase in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $78.00M USD 1 Quarter
Net increase in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $403.00M USD 1 Quarter
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $162.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $472.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $84.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $162.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $472.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $69.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $84.00M USD Point-in-time
Interest, net of amounts capitalized InterestPaidNet $65.00M USD 1 Quarter
Interest, net of amounts capitalized InterestPaidNet $70.00M USD 1 Quarter
Income taxes, net of amounts refunded IncomeTaxesPaidNet $65.00M USD 1 Quarter
Income taxes, net of amounts refunded IncomeTaxesPaidNet $51.00M USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.48B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $11.19B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.02B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $13.32B USD Point-in-time
Net income/(loss) ProfitLoss $-2.69B USD 1 Quarter
Net income/(loss) ProfitLoss $914.00M USD 1 Quarter
Distributions (Note 9) PartnersCapitalAccountDistributions $267.00M USD 1 Quarter
Distributions (Note 9) PartnersCapitalAccountDistributions $311.00M USD 1 Quarter
Deferred tax asset PartnersCapitalDeferredTaxAsset $20.00M USD 1 Quarter
Deferred tax asset PartnersCapitalDeferredTaxAsset $-3.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $-327.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $58.00M USD 1 Quarter
Contributions from noncontrolling interests (Note 9) PartnersCapitalAccountContributions $8.00M USD 1 Quarter
Other PartnersCapitalOther $1.00M USD 1 Quarter
Other PartnersCapitalOther $3.00M USD 1 Quarter
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.48B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $11.19B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.02B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $13.32B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income/(loss) ProfitLoss $-2.69B USD 1 Quarter
Net income/(loss) ProfitLoss $914.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $-327.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $58.00M USD 1 Quarter
Comprehensive income/(loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-3.02B USD 1 Quarter
Comprehensive income/(loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $972.00M USD 1 Quarter
Comprehensive (income)/loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-2.36B USD 1 Quarter
Comprehensive (income)/loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $812.00M USD 1 Quarter
Comprehensive income/(loss) attributable to PAGP ComprehensiveIncomeNetOfTax $160.00M USD 1 Quarter
Comprehensive income/(loss) attributable to PAGP ComprehensiveIncomeNetOfTax $-663.00M USD 1 Quarter

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

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