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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Total revenues $ 10,642 $ 12,757 $ 22,119 $ 24,396
COSTS AND EXPENSES        
Purchases and related costs 9,758 11,838 20,277 22,543
Field operating costs 286 280 585 553
General and administrative expenses 82 79 168 160
Depreciation and amortization 235 226 466 449
Losses on asset sales, net 42 2 29 3
Total costs and expenses 10,403 12,425 21,525 23,708
OPERATING INCOME 239 332 594 688
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 94 106 196 201
Gain on investments in unconsolidated entities, net 0 0 31 0
Interest expense (net of capitalized interest of $3, $2, $5 and $4, respectively) (133) (111) (260) (205)
Other income, net 31 23 57 18
INCOME FROM CONTINUING OPERATIONS BEFORE TAX 231 350 618 702
Current income tax expense from continuing operations (1) (52) (6) (68)
Deferred income tax (expense)/benefit from continuing operations (3) 0 (5) 5
INCOME FROM CONTINUING OPERATIONS, NET OF TAX 227 298 607 639
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 2) 70 32 206 42
NET INCOME 297 330 813 681
Net income attributable to noncontrolling interests (87) (80) (160) (166)
NET INCOME ATTRIBUTABLE TO PAA 210 250 653 515
NET INCOME PER COMMON UNIT (NOTE 4):        
Net income allocated to common unitholders — Basic : Continuing operations 80 148 287 340
Net income allocated to common unitholders — Diluted: Continuing operations 80 148 287 340
Net income allocated to common unitholders — Basic : Discontinued operations 70 32 206 42
Net income allocated to common unitholders — Diluted : Discontinued operations 70 32 206 42
Net income allocated to common unitholders - Basic 150 180 493 382
Net income allocated to common unitholders - Diluted $ 150 $ 180 $ 493 $ 382
Basic net income per common unit: continuing operations (usd per unit) $ 0.11 $ 0.21 $ 0.41 $ 0.49
Diluted net income per common unit: continuing operations (usd per unit) 0.11 0.21 0.41 0.49
Basic net income per common unit: discontinuing operations (usd per unit) 0.10 0.05 0.29 0.06
Diluted net income per common unit: discontinuing operations (usd per unit) $ 0.10 $ 0.05 $ 0.29 $ 0.06
Common Units        
NET INCOME PER COMMON UNIT (NOTE 4):        
Basic weighted average common units outstanding (units) 703 701 704 701
Diluted weighted average common units outstanding (units) 703 701 704 701
Basic net income per common unit (usd per unit) $ 0.21 $ 0.26 $ 0.70 $ 0.55
Diluted net income per common unit (usd per unit) $ 0.21 $ 0.26 $ 0.70 $ 0.55
Product sales revenues        
REVENUES        
Total revenues $ 10,197 $ 12,351 $ 21,243 $ 23,584
Services revenues        
REVENUES        
Total revenues $ 445 $ 406 $ 876 $ 812