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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 775 $ 653
Reconciliation of net income to net cash provided by operating activities:    
Income from discontinued operations, net of tax (206) (42)
Depreciation and amortization 466 449
Losses on asset sales, net 29 3
Deferred income tax expense 40 20
(Gain)/loss on foreign currency revaluation 4 (15)
Settlement of terminated interest rate hedging instruments 0 57
Equity earnings in unconsolidated entities (196) (201)
Distributions on earnings from unconsolidated entities 256 250
Gain on investments in unconsolidated entities, net (Note 12) (31)  
Other 32 38
Changes in assets and liabilities, net of acquisitions (140) (222)
Cash provided by operating activities - continuing operations 1,029 990
Cash provided by operating activities - discontinued operations 301 80
Net cash provided by operating activities 1,330 1,070
CASH FLOWS FROM INVESTING ACTIVITIES    
Cash paid in connection with acquisitions, net of cash acquired (681) (111)
Investments in unconsolidated entities 0 (3)
Additions to property, equipment and other (310) (233)
Cash paid for purchases of linefill (17) (16)
Proceeds from sales of assets 21 4
Other investing activities 0 2
Cash used in investing activities - continuing operations (987) (357)
Cash used in investing activities - discontinued operations (106) (61)
Net cash used in investing activities (1,093) (418)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings/(repayments) under PAA commercial paper program (Note 6) 69 (433)
Proceeds from the issuance of PAA senior notes (Note 6) 998 650
Repurchase of common units by a subsidiary (8) 0
Repurchase of Series A preferred units by a subsidiary (Note 7) (333)  
Distributions paid to Class A shareholders (Note 7) (150) (125)
Distributions paid to noncontrolling interests (Note 7) (731) (645)
Contributions from noncontrolling interests 29 24
Other financing activities (19) (14)
Net cash used in financing activities (145) (543)
Effect of translation adjustment - continuing operations 8 (5)
Effect of translation adjustment - discontinued operations 11 (1)
Net increase in cash and cash equivalents and restricted cash 111 103
Cash and cash equivalents and restricted cash, beginning of period 349 453
Cash and cash equivalents and restricted cash, end of period 460 556
Cash paid for:    
Interest, net of amounts capitalized 216 180
Income taxes, net of amounts refunded $ 48 $ 193