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10-Q Filing

PLAINS GP HOLDINGS LP CIK: 1581990 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001581990-23-000011
Period End Date 20230331
Filing Date 20230510
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance pagp-20230331_htm.xml
Balance Sheet 60 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $404.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $529.00M USD Point-in-time
Trade accounts receivable and other receivables, net ReceivablesNetCurrent $3.91B USD Point-in-time
Trade accounts receivable and other receivables, net ReceivablesNetCurrent $3.97B USD Point-in-time
Inventory InventoryNet $463.00M USD Point-in-time
Inventory InventoryNet $729.00M USD Point-in-time
Other current assets OtherAssetsCurrent $165.00M USD Point-in-time
Other current assets OtherAssetsCurrent $318.00M USD Point-in-time
Total current assets AssetsCurrent $5.36B USD Point-in-time
Total current assets AssetsCurrent $5.12B USD Point-in-time
PROPERTY AND EQUIPMENT PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization $20.05B USD Point-in-time
PROPERTY AND EQUIPMENT PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization $20.17B USD Point-in-time
Accumulated depreciation PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization $4.98B USD Point-in-time
Accumulated depreciation PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization $4.80B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $15.20B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $15.25B USD Point-in-time
Investments in unconsolidated entities EquityMethodInvestments $3.08B USD Point-in-time
Investments in unconsolidated entities EquityMethodInvestments $3.07B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $2.07B USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $2.15B USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $1.31B USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $1.28B USD Point-in-time
Linefill Linefill $962.00M USD Point-in-time
Linefill Linefill $961.00M USD Point-in-time
Long-term operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $347.00M USD Point-in-time
Long-term operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $349.00M USD Point-in-time
Long-term inventory InventoryNoncurrent $257.00M USD Point-in-time
Long-term inventory InventoryNoncurrent $284.00M USD Point-in-time
Other long-term assets, net OtherAssetsNoncurrent $464.00M USD Point-in-time
Other long-term assets, net OtherAssetsNoncurrent $430.00M USD Point-in-time
Total assets Assets $28.74B USD Point-in-time
Total assets Assets $29.21B USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $4.04B USD Point-in-time
Trade accounts payable AccountsPayableTradeCurrent $4.01B USD Point-in-time
Short-term debt DebtCurrent $708.00M USD Point-in-time
Short-term debt DebtCurrent $1.16B USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $689.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $650.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.89B USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.37B USD Point-in-time
Senior notes, net SeniorLongTermNotes $7.24B USD Point-in-time
Senior notes, net SeniorLongTermNotes $7.24B USD Point-in-time
Other long-term debt, net OtherLongTermDebtNoncurrent $50.00M USD Point-in-time
Other long-term debt, net OtherLongTermDebtNoncurrent $50.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $308.00M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $307.00M USD Point-in-time
Other long-term liabilities and deferred credits OtherLiabilitiesNoncurrent $1.01B USD Point-in-time
Other long-term liabilities and deferred credits OtherLiabilitiesNoncurrent $1.08B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $8.61B USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $8.68B USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 9) CommitmentsAndContingencies - USD Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 9) CommitmentsAndContingencies - USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $13.11B USD Point-in-time
Noncontrolling interests PartnersCapitalAttributableToNoncontrollingInterest $13.22B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.20B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.18B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.64B USD Point-in-time
Total partners capital PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.76B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $29.21B USD Point-in-time
Total liabilities and partners capital LiabilitiesAndStockholdersEquity $28.74B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Capitalized interest InterestCostsCapitalized $1.00M USD 1 Quarter
Capitalized interest InterestCostsCapitalized $2.00M USD 1 Quarter
Total revenues Revenues $13.69B USD 1 Quarter
Total revenues Revenues $12.34B USD 1 Quarter
Purchases and related costs CostOfGoodsAndServicesSold $11.32B USD 1 Quarter
Purchases and related costs CostOfGoodsAndServicesSold $12.79B USD 1 Quarter
Field operating costs OperatingCostsAndExpenses $357.00M USD 1 Quarter
Field operating costs OperatingCostsAndExpenses $346.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $87.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $83.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $257.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $231.00M 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 $154.00M USD 1 Quarter
Total costs and expenses CostsAndExpenses $13.40B USD 1 Quarter
Total costs and expenses CostsAndExpenses $11.87B USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $471.00M USD 1 Quarter
OPERATING INCOME OperatingIncomeLoss $291.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $97.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $89.00M USD 1 Quarter
Interest expense (net of capitalized interest of $2 and $1, respectively) InterestExpense $98.00M USD 1 Quarter
Interest expense (net of capitalized interest of $2 and $1, respectively) InterestExpense $107.00M USD 1 Quarter
Other income/(expense), net OtherNonoperatingIncomeExpense $-37.00M USD 1 Quarter
Other income/(expense), net OtherNonoperatingIncomeExpense $64.00M USD 1 Quarter
INCOME BEFORE TAX IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $244.00M USD 1 Quarter
INCOME BEFORE TAX IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $526.00M USD 1 Quarter
Current income tax expense CurrentIncomeTaxExpenseBenefit $19.00M USD 1 Quarter
Current income tax expense CurrentIncomeTaxExpenseBenefit $61.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $16.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $22.00M USD 1 Quarter
NET INCOME ProfitLoss $209.00M USD 1 Quarter
NET INCOME ProfitLoss $443.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $374.00M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $187.00M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO PAGP NetIncomeLoss $22.00M USD 1 Quarter
NET INCOME ATTRIBUTABLE TO PAGP NetIncomeLoss $69.00M USD 1 Quarter
Cash Flow Statement 57 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $209.00M USD 1 Quarter
Net income ProfitLoss $443.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $257.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $231.00M 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 $154.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $16.00M USD 1 Quarter
Deferred income tax expense DeferredIncomeTaxExpenseBenefit $22.00M USD 1 Quarter
Change in fair value of Preferred Distribution Rate Reset Option (Note 7) EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet $58.00M USD 1 Quarter
Change in fair value of Preferred Distribution Rate Reset Option (Note 7) EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet $-44.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $97.00M USD 1 Quarter
Equity earnings in unconsolidated entities IncomeLossFromEquityMethodInvestments $89.00M USD 1 Quarter
Distributions on earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $96.00M USD 1 Quarter
Distributions on earnings from unconsolidated entities EquityMethodInvestmentDividendsOrDistributions $108.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-15.00M 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 $-198.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $339.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $742.00M USD 1 Quarter
Investments in unconsolidated entities CapitalContributionsToEquityMethodInvestees $3.00M USD 1 Quarter
Investments in unconsolidated entities CapitalContributionsToEquityMethodInvestees $4.00M USD 1 Quarter
Additions to property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $101.00M USD 1 Quarter
Additions to property, equipment and other PaymentsToAcquirePropertyPlantAndEquipment $122.00M USD 1 Quarter
Cash paid for purchases of linefill CashPaidRelatedToPurchasesOfLinefill $39.00M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $53.00M USD 1 Quarter
Proceeds from sales of assets ProceedsFromSaleOfProductiveAssets $284.00M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-9.00M USD 1 Quarter
Net cash provided by/(used in) investing activities NetCashProvidedByUsedInInvestingActivities $-81.00M USD 1 Quarter
Net cash provided by/(used in) investing activities NetCashProvidedByUsedInInvestingActivities $158.00M USD 1 Quarter
Net borrowings under PAA commercial paper program (Note 5) ProceedsFromRepaymentsOfCommercialPaper $382.00M USD 1 Quarter
Repayments of PAA senior notes (Note 5) RepaymentsOfSeniorDebt $400.00M USD 1 Quarter
Repayments of PAA senior notes (Note 5) RepaymentsOfSeniorDebt $750.00M USD 1 Quarter
Repurchase of common units by a subsidiary PaymentsToMinorityShareholders $25.00M USD 1 Quarter
Distributions paid to Class A shareholders (Note 6) DistributionMadeToLimitedPartnerCashDistributionsPaid $52.00M USD 1 Quarter
Distributions paid to Class A shareholders (Note 6) DistributionMadeToLimitedPartnerCashDistributionsPaid $35.00M USD 1 Quarter
Distributions paid to noncontrolling interests (Note 6) PaymentsOfDividendsMinorityInterest $188.00M USD 1 Quarter
Distributions paid to noncontrolling interests (Note 6) PaymentsOfDividendsMinorityInterest $268.00M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-55.00M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $20.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-596.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-775.00M USD 1 Quarter
Effect of translation adjustment EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.00M USD 1 Quarter
Net increase/(decrease) in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-335.00M USD 1 Quarter
Net increase/(decrease) in cash and cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $125.00M USD 1 Quarter
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $456.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $121.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $404.00M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $529.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $456.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $121.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $404.00M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $529.00M USD Point-in-time
Interest, net of amounts capitalized InterestPaidNet $74.00M USD 1 Quarter
Interest, net of amounts capitalized InterestPaidNet $65.00M USD 1 Quarter
Income taxes, net of amounts refunded IncomeTaxesPaidNet $-18.00M USD 1 Quarter
Income taxes, net of amounts refunded IncomeTaxesPaidNet $23.00M USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.20B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.18B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.64B USD Point-in-time
Beginning balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.76B USD Point-in-time
Net income ProfitLoss $209.00M USD 1 Quarter
Net income ProfitLoss $443.00M USD 1 Quarter
Distributions (Note 6) PartnersCapitalAccountDistributions $235.00M USD 1 Quarter
Distributions (Note 6) PartnersCapitalAccountDistributions $325.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $74.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $-1.00M USD 1 Quarter
Repurchase of common units by a subsidiary ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesRepurchaseOfSharesBySubsidiary $25.00M USD 1 Quarter
Other PartnersCapitalOther $1.00M USD 1 Quarter
Other PartnersCapitalOther $9.00M USD 1 Quarter
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.20B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.18B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.64B USD Point-in-time
Ending balance PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest $14.76B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $209.00M USD 1 Quarter
Net income ProfitLoss $443.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $74.00M USD 1 Quarter
Other comprehensive income/(loss) OtherComprehensiveIncomeLossNetOfTax $-1.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $283.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $442.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $373.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $240.00M USD 1 Quarter
Comprehensive income attributable to PAGP ComprehensiveIncomeNetOfTax $43.00M USD 1 Quarter
Comprehensive income attributable to PAGP ComprehensiveIncomeNetOfTax $69.00M USD 1 Quarter

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

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