v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUES    
Total revenues $ 12,470 $ 11,477
COSTS AND EXPENSES    
Purchases and related costs 11,493 10,517
Field operating costs 301 300
General and administrative expenses 81 85
Depreciation and amortization 243 232
Gains on asset sales and other, net (53) (13)
Total costs and expenses 12,065 11,121
OPERATING INCOME 405 356
OTHER INCOME/(EXPENSE)    
Equity earnings in unconsolidated entities 89 103
Gain on investments in unconsolidated entities, net   31
Interest expense (net of capitalized interest of $2 and $2, respectively) (167) (127)
Other income, net 8 26
INCOME FROM CONTINUING OPERATIONS BEFORE TAX 335 389
Current income tax expense from continuing operations (216) (7)
Deferred income tax (expense)/benefit from continuing operations 215 (2)
INCOME FROM CONTINUING OPERATIONS, NET OF TAX 334 380
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 2) (103) 136
NET INCOME 231 516
Net income attributable to noncontrolling interests (79) (73)
NET INCOME ATTRIBUTABLE TO PAA 152 443
Common Units    
NET INCOME/(LOSS) PER COMMON UNIT (NOTE 4):    
Net income/(loss) allocated to common unitholders — basic: continuing operations 203 207
Net income/(loss) allocated to common unitholders— diluted: continuing operations 203 207
Net income/(loss) allocated to common unitholders — basic: discontinued operations (103) 136
Net income/(loss) allocated to common unitholders — diluted: discontinued operations (103) 136
Net income allocated to common unitholders - basic 100 343
Net income allocated to common unitholders - diluted $ 100 $ 343
Basic weighted average common units outstanding (units) 706 704
Diluted weighted average common units outstanding (units) 706 704
Basic net income/(loss) per common unit: continuing operations (usd per unit) $ 0.29 $ 0.30
Diluted net income/(loss) per common unit: continuing operations (usd per unit) 0.29 0.30
Basic net income per common unit: discontinuing operations (usd per unit) (0.15) 0.19
Diluted net income per common unit: discontinuing operations (usd per unit) (0.15) 0.19
Basic net income per common unit (usd per unit) 0.14 0.49
Diluted net income per common unit (usd per unit) $ 0.14 $ 0.49
Product sales revenues    
REVENUES    
Total revenues $ 12,026 $ 11,046
Services revenues    
REVENUES    
Total revenues $ 444 $ 431