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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ 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 84 81 171 163
Depreciation and amortization 235 226 466 449
Losses on asset sales, net 42 2 29 3
Total costs and expenses 10,405 12,427 21,528 23,711
OPERATING INCOME 237 330 591 685
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 94 106 196 201
Gain on investments in unconsolidated entities, net     31  
Interest expense (net of capitalized interest of $3, $2, $5 and $4, respectively) (110) (96) (217) (190)
Other income, net 8 8 14 3
INCOME FROM CONTINUING OPERATIONS BEFORE TAX 229 348 615 699
Current income tax expense from continuing operations (1) (52) (6) (68)
Deferred income tax expense from continuing operations (15) (12) (40) (20)
INCOME FROM CONTINUING OPERATIONS, NET OF TAX 213 284 569 611
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 2) 70 32 206 42
NET INCOME 283 316 775 653
Net income attributable to noncontrolling interests from continuing operations (203) (254) (513) (542)
Net income attributable to noncontrolling interests from discontinued operations (50) (23) (148) (30)
Net income attributable to noncontrolling interests (253) (277) (661) (572)
Net income attributable to PAGP from continuing operations 10 30 56 69
Net income attributable to PAGP from discontinued operations 20 9 58 12
NET INCOME ATTRIBUTABLE TO PAGP $ 30 $ 39 $ 114 $ 81
Class A Shares        
OTHER INCOME/(EXPENSE)        
Basic weighted average Class A shares outstanding (shares) 198,000 197,000 198,000 197,000
Basic Net Income per Class A Share:        
Continuing operations (usd per share) $ 0.05 $ 0.15 $ 0.29 $ 0.35
Discontinued operations (usd per share) 0.10 0.05 0.29 0.06
Basic net income per Class A share (usd per share) $ 0.15 $ 0.20 $ 0.58 $ 0.41
Diluted weighted average Class A shares outstanding (shares) 198,000 232,000 233,000 197,000
Diluted Net Income per Class A Share:        
Continuing operations (usd per share) $ 0.05 $ 0.15 $ 0.29 $ 0.35
Discontinued operations (usd per share) 0.10 0.04 0.28 0.06
Diluted net income per Class A share (usd per share) $ 0.15 $ 0.19 $ 0.57 $ 0.41
Product sales revenues        
REVENUES        
Total revenues $ 10,197 $ 12,351 $ 21,243 $ 23,584
Services revenues        
REVENUES        
Total revenues $ 445 $ 406 $ 876 $ 812