The following table sets forth the computation of basic and diluted net income per common unit (in millions, except per unit data):


	Three Months Ended March 31,
		2025		2024
Basic and Diluted Net Income per Common Unit
Net income attributable to PAA		$	443	$	266
Distributions to Series A preferred unitholders		(39)		(44)
Distributions to Series B preferred unitholders		(18)		(19)
Amounts allocated to participating securities		(1)		(1)
Impact from repurchase of Series A preferred units (1)		(43)		—
Other		1		1
Net income allocated to common unitholders (2)		$	343	$	203

Basic and diluted weighted average common units outstanding		704		701

Basic and diluted net income per common unit		$	0.49	$	0.29

(1)We repurchased approximately 12.7 million Series A preferred units on January 31, 2025. See Note 6 for additional information. The difference between the cash we paid for the repurchase of such units and their carrying value on our balance sheet is considered a return to Series A preferred unitholders for the calculation of net income allocated to common unitholders.

(2)We calculate net income allocated to common unitholders based on the distributions pertaining to the current period’s net income. After adjusting for the appropriate period’s distributions, the remaining undistributed earnings or excess distributions over earnings (i.e., undistributed loss), if any, are allocated to the common unitholders and participating securities in accordance with the contractual terms of our partnership agreement in effect for the period and as further prescribed under the two-class method.