XML 19 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Total revenues $ 5,833 $ 7,886 $ 17,327 $ 24,515
COSTS AND EXPENSES        
Purchases and related costs 5,107 6,855 15,000 21,218
Field operating costs 254 316 811 983
General and administrative expenses 62 75 206 229
Depreciation and amortization 161 157 495 441
(Gains)/losses on asset sales and asset impairments, net (Note 14) (2) (7) 617 (7)
Goodwill impairment losses (Note 6) 0 0 2,515 0
Total costs and expenses 5,582 7,396 19,644 22,864
OPERATING INCOME/(LOSS) 251 490 (2,317) 1,651
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 89 102 280 274
Gain on/(impairment of) investments in unconsolidated entities, net (Note 7) (91) 4 (182) 271
Interest expense (net of capitalized interest of $6, $7, $17 and $29, respectively) (113) (108) (329) (311)
Other income/(expense), net 5 5 (7) 23
INCOME/(LOSS) BEFORE TAX 141 493 (2,555) 1,908
Current income tax expense (17) (19) (39) (72)
Deferred income tax (expense)/benefit 15 (43) 177 (65)
NET INCOME/(LOSS) 139 431 (2,417) 1,771
Net (income)/loss attributable to noncontrolling interests (122) (361) 1,869 (1,488)
NET INCOME/(LOSS) ATTRIBUTABLE TO PAGP $ 17 $ 70 $ (548) $ 283
Class A Shares        
OTHER INCOME/(EXPENSE)        
BASIC NET INCOME/(LOSS) PER CLASS A SHARE $ 0.09 $ 0.41 $ (2.97) $ 1.73
DILUTED NET INCOME/(LOSS) PER CLASS A SHARE $ 0.09 $ 0.41 $ (2.97) $ 1.72
BASIC WEIGHTED AVERAGE CLASS A SHARES OUTSTANDING 186 168 184 163
DILUTED WEIGHTED AVERAGE CLASS A SHARES OUTSTANDING 186 168 184 165
Supply and Logistics        
REVENUES        
Total revenues $ 5,537 $ 7,541 $ 16,370 $ 23,477
Transportation        
REVENUES        
Total revenues 146 196 484 581
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 87 102 276 274
Facilities        
REVENUES        
Total revenues 150 $ 149 473 $ 457
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities $ 2   $ 4