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Partners' Capital and Distributions (Tables)
 6 Months Ended
Jun. 30, 2023
Partners' Capital and Distributions  
Schedule of activity for Class A shares, Class B shares and Class C shares
The following tables present the activity for our Class A shares, Class B shares and Class C shares:

 Class A SharesClass B SharesClass C Shares
Outstanding at December 31, 2022194,407,642 46,205,947 528,442,538 
Conversion of AAP Management Units (1) (2)
— 388,839 — 
Redemption Right exercises (1)
— (181,916)181,916 
Other— — 35,508 
Outstanding at March 31, 2023194,407,642 46,412,870 528,659,962 
Exchange Right exercises (1)
1,554,000 (1,554,000)— 
Redemption Right exercises (1)
— (60,354)60,354 
Outstanding at June 30, 2023195,961,642 44,798,516 528,720,316 
 
 Class A SharesClass B SharesClass C Shares
Outstanding at December 31, 2021194,192,777 46,645,514 534,596,831 
Conversion of AAP Management Units (1)
— 205,024 — 
Exchange Right exercises (1)
35,700 (35,700)— 
Redemption Right exercises (1)
— (11,957)11,957 
Repurchase and cancellation of common units by a subsidiary under the Common Equity Repurchase Program— — (2,375,299)
Other— — 51,937 
Outstanding at March 31, 2022194,228,477 46,802,881 532,285,426 
Conversion of AAP Management Units (1)
— 53,023 — 
Repurchase and cancellation of common units by a subsidiary under the Common Equity Repurchase Program— — (4,876,062)
Other— — 147,830 
Outstanding at June 30, 2022194,228,477 46,855,904 527,557,194 
(1)See Note 12 to our Consolidated Financial Statements included in Part IV of our 2022 Annual Report on Form 10-K for information regarding conversions of AAP Management Units, Exchange Rights and Redemption Rights.
(2)Following this conversion, no AAP Management Units remain outstanding.
Summary of distributions made to noncontrolling interests in consolidated joint ventures The following table details distributions paid to noncontrolling interests in consolidated joint ventures during the periods presented (in millions):
Three Months Ended
June 30,
Six Months Ended
June 30,
2023202220232022
Permian JV$53 $58 $111 $112 
Cactus II (1)
15 — 29 — 
Red River5 4 11 9 
$73 $62 $151 $121 
(1)In November 2022, we acquired an additional interest in Cactus II which, combined with changes in the governance of this entity, resulted in our obtaining control of the entity. Subsequent to this transaction, we reflect Cactus II as a consolidated subsidiary. See Note 7 to our Consolidated Financial Statements included in Part IV of our 2022 Annual Report on Form 10-K for additional information on the Cactus II transaction.
AAP  
Partners' Capital and Distributions  
Schedule of distributions The following table details the distributions to AAP’s partners paid during or pertaining to the first six months of 2023 from distributions received from PAA (in millions):
 
Distributions to AAP’s Partners
Distribution Payment DateNoncontrolling InterestsPAGPTotal Cash Distribution
August 14, 2023 (1)
$12 $52 $64 
May 15, 2023$13 $52 $65 
February 14, 2023$13 $52 $65 
(1)Payable to unitholders of record at the close of business on July 31, 2023 for the period from April 1, 2023 through June 30, 2023.
Class A Shares  
Partners' Capital and Distributions  
Schedule of distributions
The following table details distributions to our Class A shareholders paid during or pertaining to the first six months of 2023 (in millions, except per share data):

Distribution Payment DateDistributions to
Class A Shareholders		Distributions per
Class A Share
August 14, 2023 (1)
$52 $0.2675 
May 15, 2023$52 $0.2675 
February 14, 2023$52 $0.2675 
(1)Payable to shareholders of record at the close of business on July 31, 2023 for the period from April 1, 2023 through June 30, 2023.
Series A Preferred Units | PAA  
Partners' Capital and Distributions  
Schedule of distributions The following table details distributions to PAA’s Series A preferred unitholders paid during or pertaining to the first six months of 2023 (in millions, except per unit data):
Series A Preferred Unitholders
Distribution Payment DateCash DistributionDistribution per Unit
August 14, 2023 (1)
$44 $0.615 
May 15, 2023$42 $0.585 
February 14, 2023$37 $0.525 
(1)Payable to unitholders of record at the close of business on July 31, 2023 for the period from April 1, 2023 through June 30, 2023. At June 30, 2023, such amount was accrued as distributions payable in “Other current liabilities” on our Condensed Consolidated Balance Sheet.
Series B Preferred Units | PAA  
Partners' Capital and Distributions  
Schedule of distributions The following table details distributions paid or to be paid to PAA’s Series B preferred unitholders (in millions, except per unit data):
Series B Preferred Unitholders
Distribution Payment DateCash Distribution Distribution per Unit
August 15, 2023 (1)
$19 $24.10 
May 15, 2023$18 $22.18 
February 15, 2023$18 $22.27 
(1)Payable to unitholders of record at the close of business on August 1, 2023 for the period from May 15, 2023 through August 14, 2023. At June 30, 2023, approximately $10 million of accrued distributions payable to PAA’s Series B preferred unitholders was included in “Other current liabilities” on our Condensed Consolidated Balance Sheet.
Common Units | PAA  
Partners' Capital and Distributions  
Schedule of distributions The following table details distributions to PAA’s common unitholders paid during or pertaining to the first six months of 2023 (in millions, except per unit data):
 DistributionsCash Distribution per Common Unit
Common UnitholdersTotal Cash Distribution
Distribution Payment DatePublicAAP
August 14, 2023 (1)
$123 $64 $187 $0.2675 
May 15, 2023$122 $65 $187 $0.2675 
February 14, 2023$122 $65 $187 $0.2675 
(1)Payable to unitholders of record at the close of business on July 31, 2023 for the period from April 1, 2023 through June 30, 2023.