7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 
      
                                                    
      cash flows from operating activities
                                                    
      net income
    504,000,000 283,000,000 492,000,000 117,000,000 300,000,000 317,000,000 336,000,000 381,000,000 268,000,000 333,000,000 443,000,000 295,000,000 420,000,000 239,000,000 209,000,000 470,000,000 -51,000,000 -211,000,000 392,000,000 -23,000,000 139,000,000 136,000,000 -2,692,000,000 291,000,000 431,000,000 426,000,000 914,000,000 1,061,000,000 677,000,000 96,000,000 273,000,000 -648,000,000 32,000,000 173,000,000 402,000,000 122,000,000 279,000,000 82,000,000 177,000,000 216,000,000 228,000,000 103,000,000 262,000,000 370,000,000 311,000,000 275,000,000 372,000,000 304,000,000 
      reconciliation of net income to net cash from operating activities:
                                                    
      income from discontinued operations, net of tax
    -75,000,000                                                
      depreciation and amortization
    230,000,000 204,000,000 262,000,000 257,000,000 258,000,000 257,000,000 254,000,000 273,000,000 261,000,000 260,000,000 257,000,000 255,000,000 238,000,000 244,000,000 231,000,000 224,000,000 178,000,000 197,000,000 178,000,000 161,000,000 160,000,000 166,000,000 169,000,000 163,000,000 157,000,000 148,000,000 136,000,000 214,000,000 131,000,000 49,000,000 127,000,000 225,000,000 152,000,000 129,000,000 122,000,000 143,000,000 32,000,000 206,000,000 114,000,000 106,000,000 109,000,000 110,000,000 108,000,000 100,000,000 97,000,000 101,000,000 96,000,000 112,000,000 
      (gains)/losses on asset sales
                                                   
      deferred income tax expense
    25,000,000   -5,000,000    14,000,000 -28,000,000 36,000,000 22,000,000   27,000,000 16,000,000          43,000,000 -27,000,000 49,000,000  9,000,000 -21,000,000 62,000,000  -43,000,000 23,000,000 96,000,000  11,000,000   50,000,000 24,000,000   87,000,000 19,000,000 14,000,000 21,000,000  
      (gain)/loss on foreign currency revaluation
    15,000,000       12,000,000          -7,000,000 -8,000,000            8,000,000    -3,000,000         3,000,000     
      settlement of terminated interest rate hedging instruments
                    -33,000,000       21,000,000     -19,000,000        
      equity earnings in unconsolidated entities
    -96,000,000 -93,000,000 -103,000,000 -154,000,000 -97,000,000 -106,000,000 -95,000,000 -92,000,000 -99,000,000 -89,000,000 -89,000,000 -97,000,000 -105,000,000 -104,000,000 -97,000,000 -84,000,000 -69,000,000 -33,000,000 -88,000,000 -75,000,000 -89,000,000 -81,000,000 -110,000,000 -114,000,000 -102,000,000 -83,000,000 -89,000,000 -94,000,000 -110,000,000 -96,000,000 -75,000,000 -89,000,000 -80,000,000 -68,000,000 -53,000,000 -62,000,000     -45,000,000        
      distributions on earnings from unconsolidated entities
    113,000,000 131,000,000 125,000,000 122,000,000 133,000,000 118,000,000 132,000,000 107,000,000 132,000,000 111,000,000 108,000,000 144,000,000 120,000,000 128,000,000 96,000,000 109,000,000 111,000,000 101,000,000 110,000,000 128,000,000 108,000,000 111,000,000 125,000,000 94,000,000 107,000,000 102,000,000 98,000,000 98,000,000 118,000,000 105,000,000 101,000,000  86,000,000                
      gain on investments in unconsolidated entities
    -31,000,000                                              
      other
    16,000,000 13,000,000 19,000,000 -36,000,000 15,000,000 30,000,000 8,000,000 -36,000,000 19,000,000 22,000,000 15,000,000 -25,000,000 14,000,000 23,000,000 4,000,000 -35,000,000 16,000,000 13,000,000 14,000,000 -41,000,000 19,000,000 5,000,000 5,000,000 -1,000,000 14,000,000 1,000,000 7,000,000 8,000,000 4,000,000 2,000,000 11,000,000 -9,000,000 5,000,000 4,000,000 10,000,000 12,000,000 7,000,000 2,000,000 4,000,000  -1,000,000   1,000,000 5,000,000 1,000,000 4,000,000  
      changes in assets and liabilities, net of acquisitions
    158,000,000 -140,000,000  43,000,000 -9,000,000 -192,000,000  -443,000,000 131,000,000 198,000,000  18,000,000 154,000,000 -122,000,000  -39,000,000 -99,000,000 70,000,000  -123,000,000 -195,000,000 128,000,000  -302,000,000    -365,000,000 333,000,000 -4,000,000  305,000,000 288,000,000 177,000,000    318,000,000  208,000,000 -303,000,000 343,000,000    253,000,000  
      cash from operating activities - continuing operations
    804,000,000                                                
      cash from operating activities - discontinued operations
    13,000,000                                                
      net cash from operating activities
    817,000,000 692,000,000 638,000,000 726,000,000 688,000,000 652,000,000 418,000,000 1,010,000,000 83,000,000 887,000,000 742,000,000 334,000,000 941,000,000 790,000,000 339,000,000 633,000,000 335,000,000 234,000,000 789,000,000 257,000,000 281,000,000 83,000,000 889,000,000 726,000,000 306,000,000 436,000,000 1,032,000,000 1,312,000,000 279,000,000 493,000,000 520,000,000 581,000,000 456,000,000 644,000,000 815,000,000 81,000,000 251,000,000 -252,000,000 631,000,000 120,000,000 559,000,000 -75,000,000 729,000,000 722,000,000 312,000,000 137,000,000 817,000,000 359,000,000 
      cash flows from investing activities
                                                    
      cash paid in connection with acquisitions, net of cash acquired
    -184,000,000 -57,000,000 -624,000,000 -104,000,000 -33,000,000 -20,000,000 -91,000,000 -136,000,000    -81,000,000      -2,000,000 -308,000,000 -3,000,000       2,000,000 -1,000,000 -27,000,000 -1,254,000,000     -40,000,000        
      investments in unconsolidated entities
       -1,000,000 -3,000,000 -5,000,000 -9,000,000 -15,000,000 -4,000,000 -11,000,000 1,000,000 -1,000,000 -3,000,000 -16,000,000 -7,000,000 -36,000,000 -35,000,000 -75,000,000 -72,000,000 -167,000,000 -147,000,000 -157,000,000 -108,000,000 -134,000,000 -125,000,000 -168,000,000 -84,000,000 -176,000,000 -40,000,000 -60,000,000 -106,000,000 -127,000,000 -123,000,000 -130,000,000             
      additions to property, equipment and other
    -185,000,000 -119,000,000 -191,000,000 -166,000,000 -157,000,000 -139,000,000 -157,000,000 -155,000,000 -137,000,000 -145,000,000 -122,000,000 -143,000,000 -122,000,000 -89,000,000 -101,000,000 -79,000,000 -75,000,000 -85,000,000 -97,000,000 -132,000,000 -134,000,000 -227,000,000 -245,000,000 -262,000,000 -277,000,000 -362,000,000 -280,000,000 -450,000,000 -460,000,000 -458,000,000 -266,000,000 -246,000,000 -229,000,000 -274,000,000 -275,000,000 -304,000,000     -586,000,000        
      cash paid for purchases of linefill
    -10,000,000 -7,000,000 -5,000,000 -3,000,000 -13,000,000 -4,000,000 -5,000,000   -15,000,000 -9,000,000 -21,000,000 -39,000,000                                  
      proceeds from sales of assets
    6,000,000 18,000,000 3,000,000 5,000,000 2,000,000 3,000,000 3,000,000 42,000,000 2,000,000 284,000,000 2,000,000 1,000,000 4,000,000 53,000,000 3,000,000 856,000,000 1,000,000 21,000,000 183,000,000 1,000,000 141,000,000 104,000,000 69,000,000 6,000,000   36,000,000 872,000,000 343,000,000 83,000,000 676,000,000 18,000,000 228,000,000 161,000,000 16,000,000 247,000,000 145,000,000 246,000,000 1,000,000 2,000,000 1,000,000 1,000,000 26,000,000 -1,000,000 1,000,000 2,000,000 138,000,000 
      other investing activities
       1,000,000 1,000,000     13,000,000 18,000,000 4,000,000 9,000,000 -13,000,000 -23,000,000 3,000,000 -3,000,000 1,000,000 12,000,000 -9,000,000 -4,000,000 -1,000,000 -8,000,000 -2,000,000 -7,000,000 -3,000,000 2,000,000 -3,000,000 -14,000,000   -1,000,000          1,000,000 
      cash from investing activities - continuing operations
    -363,000,000                                                
      cash from investing activities - discontinued operations
    -45,000,000                                                
      net cash from investing activities
    -408,000,000 -274,000,000 -819,000,000 -264,000,000 -193,000,000    -438,000,000     -42,000,000 -81,000,000   -175,000,000 -108,000,000 -27,000,000 -208,000,000 -248,000,000 -610,000,000 -398,000,000 -389,000,000 -549,000,000 -429,000,000 -629,000,000 322,000,000 -285,000,000 -221,000,000 393,000,000 -309,000,000 -163,000,000 -1,491,000,000 -419,000,000     -726,000,000        
      cash flows from financing activities
                                                    
      net repayments under paa commercial paper program
                    251,000,000 -410,000,000    -93,000,000     -60,000,000                     
      proceeds from the issuance of paa senior notes
    1,248,000,000 998,000,000                                   1,148,000,000 749,000,000   
      repurchase of common units by a subsidiary
              -49,000,000 -25,000,000 -61,000,000 -64,000,000                                
      repurchase of series a preferred units by a subsidiary
    -333,000,000                                              
      distributions paid to class a shareholders
    -75,000,000 -75,000,000 -75,000,000 -63,000,000 -63,000,000 -62,000,000 -63,000,000 -53,000,000 -52,000,000 -52,000,000 -52,000,000 -42,000,000 -43,000,000 -42,000,000 -35,000,000 -35,000,000 -35,000,000 -35,000,000 -35,000,000 -34,000,000 -33,000,000 -33,000,000 -66,000,000 -66,000,000 -60,000,000 -57,000,000 -48,000,000 -47,000,000 -48,000,000 -47,000,000 -47,000,000 -46,000,000 -84,000,000 -84,000,000 -57,000,000 -55,000,000     -51,000,000        
      distributions paid to noncontrolling interests
    -356,000,000 -343,000,000 -388,000,000 -339,000,000 -335,000,000 -321,000,000 -324,000,000 -294,000,000 -283,000,000 -268,000,000 -268,000,000 -275,000,000 -220,000,000 -235,000,000 -188,000,000 -158,000,000 -136,000,000 -157,000,000 -138,000,000 -162,000,000 -138,000,000 -164,000,000 -233,000,000 -260,000,000 -243,000,000 -267,000,000 -207,000,000 -232,000,000 -208,000,000 -232,000,000 -171,000,000 -177,000,000 -315,000,000 -315,000,000 -315,000,000 -307,000,000     -373,000,000        
      contributions from noncontrolling interests
    5,000,000 25,000,000 4,000,000 17,000,000 16,000,000 12,000,000 12,000,000 53,000,000                                        
      other financing activities
    -42,000,000 -4,000,000 -15,000,000 -4,000,000 -31,000,000 -10,000,000 -4,000,000 -4,000,000 -25,000,000 -4,000,000 -55,000,000 -5,000,000 -60,000,000 -4,000,000 20,000,000 -22,000,000 -110,000,000 -91,000,000 63,000,000 39,000,000 -83,000,000 -12,000,000 112,000,000 -8,000,000 -92,000,000 -11,000,000 58,000,000 -3,000,000 -79,000,000 -2,000,000 64,000,000 -41,000,000 -80,000,000 -1,000,000 127,000,000 -18,000,000             
      net cash provided by/(used in) financing activities
      262,000,000                         -641,000,000 -605,000,000 -197,000,000 -310,000,000    667,000,000         1,281,000,000 259,000,000    
      effect of translation adjustment - continuing operations
    5,000,000                                                
      effect of translation adjustment - discontinued operations
                                                    
      net increase in cash and cash equivalents and restricted cash
    721,000,000                     -56,000,000 78,000,000                          
      cash and cash equivalents and restricted cash, beginning of period
    349,000,000 453,000,000 404,000,000 456,000,000 63,000,000 84,000,000 69,000,000                      
      cash and cash equivalents and restricted cash, end of period
    721,000,000 31,000,000 429,000,000 -292,000,000 85,000,000 222,000,000 334,000,000 191,000,000 -674,000,000 407,000,000 529,000,000 -221,000,000 355,000,000 149,000,000 121,000,000 259,000,000 164,000,000 -25,000,000 58,000,000 15,000,000 -58,000,000 -56,000,000 162,000,000 -586,000,000 200,000,000 -2,000,000 472,000,000                      
      cash paid for:
                                                    
      interest, net of amounts capitalized
    81,000,000 126,000,000 90,000,000 112,000,000 59,000,000 116,000,000 64,000,000 130,000,000 59,000,000 123,000,000 65,000,000 125,000,000 67,000,000 127,000,000 74,000,000 136,000,000 63,000,000 137,000,000 65,000,000 143,000,000 72,000,000 148,000,000 65,000,000 134,000,000 75,000,000 118,000,000 70,000,000 119,000,000 78,000,000 127,000,000 76,000,000 161,000,000 73,000,000 160,000,000 92,000,000 139,000,000 92,000,000 143,000,000 88,000,000 110,000,000 100,000,000 118,000,000 77,000,000 99,000,000 79,000,000 85,000,000 81,000,000 78,000,000 
      income taxes, net of amounts refunded
    32,000,000 21,000,000 27,000,000 33,000,000 43,000,000 107,000,000 86,000,000 41,000,000 20,000,000 26,000,000 -18,000,000 27,000,000 46,000,000 16,000,000 23,000,000 44,000,000 5,000,000 3,000,000 24,000,000 39,000,000 21,000,000 51,000,000 26,000,000 24,000,000 21,000,000 65,000,000 1,000,000 9,000,000 2,000,000 9,000,000 3,000,000 13,000,000 7,000,000 27,000,000 20,000,000 27,000,000 35,000,000 16,000,000 7,000,000 13,000,000 19,000,000 11,000,000 24,000,000 31,000,000 38,000,000 66,000,000 18,000,000 
      losses on asset sales
                                                    
      net borrowings/
                 -267,000,000 382,000,000 1,000,000   -166,000,000         -299,000,000   -8,000,000   -124,000,000 149,000,000 53,000,000    149,000,000       14,000,000 
      net cash from financing activities
       -746,000,000 -413,000,000 -271,000,000 -272,000,000 -565,000,000 -307,000,000 -324,000,000 -775,000,000 -322,000,000 -412,000,000 -597,000,000 -596,000,000 -275,000,000 -932,000,000 -86,000,000 -686,000,000   108,000,000 -191,000,000   111,000,000 -197,000,000      -162,000,000   354,000,000 78,000,000    164,000,000        
      gain on asset sales
      -13,000,000                                              
      deferred income tax expense/
      27,000,000   4,000,000 -25,000,000     1,000,000      -19,000,000 52,000,000 -41,000,000 -15,000,000 -22,000,000 -140,000,000                9,000,000          
      net borrowings under paa commercial paper program
      71,000,000    107,000,000                                         791,000,000 
      effect of translation adjustment
      -1,000,000 -8,000,000 3,000,000 -2,000,000 -4,000,000  -12,000,000   2,000,000 -6,000,000 -2,000,000 3,000,000 -7,000,000   1,000,000 1,000,000 -10,000,000  -2,000,000 -3,000,000                      
      net increase/(decrease) in cash and cash equivalents and restricted cash
      80,000,000 -292,000,000   -119,000,000 191,000,000 -674,000,000 407,000,000 125,000,000     259,000,000 164,000,000 -25,000,000 -5,000,000 15,000,000    -586,000,000 200,000,000 -2,000,000 403,000,000                      
      equity-indexed compensation expense
                       7,000,000 4,000,000   4,000,000 7,000,000 7,000,000 17,000,000 20,000,000 23,000,000 19,000,000 17,000,000 8,000,000 10,000,000 11,000,000 12,000,000 20,000,000 14,000,000 22,000,000 4,000,000 -9,000,000 17,000,000 19,000,000 8,000,000 23,000,000 34,000,000 34,000,000 20,000,000 
      gains on sales of linefill
              -5,000,000                                    
      change in fair value of preferred distribution rate reset option
           -58,000,000 -7,000,000 49,000,000 103,000,000 44,000,000  -4,000,000 -76,000,000 67,000,000  10,000,000 9,000,000 -26,000,000    -23,000,000         12,000,000             
      changes in assets and liabilities, net of acquisitions:
                                                    
      trade accounts receivable and other
                                                    
      inventory
                                                    
      trade accounts payable and other
                                                    
      cash received from sales of linefill
             11,000,000                                    
      repayments of paa senior notes
           -700,000,000 -400,000,000 -750,000,000     -600,000,000           -950,000,000 -400,000,000     -400,000,000        
      gain on foreign currency revaluation
                                                    
      gain on investment in unconsolidated entities
                           -4,000,000 -267,000,000                      
      net cash provided by/(used in) investing activities
          -261,000,000    158,000,000     -92,000,000                                 
      cash paid/(received) for:
                                                    
      net repayments under paa senior secured hedged inventory facility
                                165,000,000 -498,000,000    -501,000,000              
      repayment of paa go zone term loans
                                                   
      gains on asset sales and asset impairments
            6,000,000                                        
      loss on foreign currency revaluation
                         -23,000,000 46,000,000    4,000,000                      
      (gains)/losses on asset sales and asset impairments
              -154,000,000  -4,000,000 -42,000,000  222,000,000 368,000,000 2,000,000     35,000,000   4,000,000                      
      reconciliation of net income/(loss) to net cash from operating activities:
                                                    
      goodwill impairment loss
                                                    
      inventory valuation adjustments
                       1,000,000 232,000,000          3,000,000 92,000,000 1,000,000 24,000,000 252,000,000 37,000,000 
      (gains)/losses on sales of linefill
                                                    
      net cash (used in)/provided by investing activities
                                                    
      net decrease in cash and cash equivalents and restricted cash
                 149,000,000 -335,000,000                                  
      goodwill impairment losses
                       2,515,000,000                          
      sale of noncontrolling interest in a subsidiary
                                                  
      deferred income tax benefit
                                                    
      (gain on)/impairment of investments in unconsolidated entities
                                                    
      cash paid for purchases of linefill and base gas
                       -2,000,000 -7,000,000 -5,000,000 -41,000,000 -9,000,000 -8,000,000 -16,000,000             -6,000,000        
      proceeds from paa go zone term loans
                                                   
      net cash (used in)/provided by financing activities
                                                    
      equity-indexed compensation expense/
                          -4,000,000                          
      net borrowings under paa senior secured hedged inventory facility
                          89,000,000         29,000,000    23,000,000 172,000,000            
      return of investment from unconsolidated entities
                               1,000,000                  
      cash received from sales of linefill and base gas
                                                    
      net proceeds from the sale of class a shares
                                   1,535,000,000              
      net proceeds from the sale of preferred units by a subsidiary
                                                    
      net proceeds from the sale of common units by a subsidiary
                                   129,000,000              
      effect of translation adjustment on cash
                               -6,000,000 -3,000,000 2,000,000 1,000,000   4,000,000          
      net borrowings under paa senior unsecured revolving credit facility
                                 -224,000,000 350,000,000                  
      changes in assets and liabilities
                              182,000,000                      
      gain on sale of investment in unconsolidated entities
                               10,000,000                     
      trade accounts payable and other current liabilities
                                                    
      net repayments under aap senior secured revolving credit facility
                                                    
      repayment of aap term loan
                                                    
      net increase/(decrease) in cash and cash equivalents
                                   4,000,000   -9,000,000 16,000,000 -3,000,000      56,000,000      
      cash and cash equivalents, beginning of period
                               40,000,000 50,000,000 30,000,000 404,000,000 43,000,000 
      cash and cash equivalents, end of period
                               36,000,000 -4,000,000 11,000,000 26,000,000 4,000,000 -14,000,000 9,000,000 41,000,000 16,000,000 -3,000,000 -3,000,000 40,000,000 5,000,000 -5,000,000 -430,000,000 460,000,000 369,000,000 7,000,000 -4,000,000 32,000,000 9,000,000 
      net proceeds from sales of class a shares
                                                    
      net proceeds from sales of common units by a subsidiary
                                                    
      net decrease in cash and cash equivalents
                                -4,000,000 11,000,000 -14,000,000          -5,000,000        
      distributions from unconsolidated entities
                                      52,000,000 65,000,000 50,000,000 49,000,000 52,000,000 55,000,000 57,000,000 48,000,000 54,000,000      
      accounts payable and other current liabilities
                                                    
      proceeds from aap term loan
                                                  
      net proceeds from the sale of series a preferred units by a subsidiary
                                                   
      net proceeds from the sale of series b preferred units by a subsidiary
                                                    
      cash received for sales of linefill and base gas
                                               1,000,000 12,000,000 11,000,000 15,000,000 
      net borrowings under aap senior secured revolving credit facility
                                        10,000,000 34,000,000   1,000,000 23,000,000      
      net increase in cash and cash equivalents
                                          10,000,000          
      deferred income tax (benefit)/expense
                                                    
      net proceeds from the sale of series a preferred units
                                                    
      net proceeds from the sale of common units by subsidiaries
                                                    
      cash paid in connection with acquisitions
                                                    
      net proceeds from the sale of series a preferred units by a subsidiary and associated embedded derivative
                                          1,570,000,000          
      net repayments under paa senior unsecured revolving credit facility
                                                    
      net repayments under png credit agreement
                                                    
      contributions from noncontrolling interests related to the sale of common units by subsidiaries
                                                    
      proceeds received from initial public offering
                                                    
      distribution of proceeds received from initial public offering
                                                    
      distributions paid to members
                                                    
      gain on sales of linefill and base gas
                                                    
      investment in unconsolidated entities
                                            -94,000,000        
      net proceeds from the issuance of common units by subsidiaries
                                            1,099,000,000 193,000,000 211,000,000    
      costs incurred in connection with financing arrangements
                                                    
      cash received upon formation of equity-method investment
                                                    
      net borrowings/(repayments) under png credit agreement
                                                    
      contributions from noncontrolling interests related to the issuance of common units by subsidiaries
                                                    
      equity earnings in unconsolidated entities, net of distributions
                                                -6,000,000    
      net borrowings under aap revolving credit facility
                                                5,000,000 6,000,000 5,000,000  
      contributions from noncontrolling interests related to issuances of common units by subsidiaries
                                                    
      net borrowings under png credit agreement
                                                    
      net proceeds from the issuance of paa common units
                                                  148,000,000 64,000,000 
      contributions from noncontrolling interests related to paa common unit issuances
                                                    
      settlement of terminated interest rate and foreign currency hedging instruments
                                                   
      change in restricted cash
                                                    
      net proceeds from the issuance of png common units
                                                   
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.