v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES        
Total revenues $ 17,693 $ 10,642 $ 30,162 $ 22,119
COSTS AND EXPENSES        
Purchases and related costs 16,556 9,758 28,049 20,277
Field operating costs 328 286 628 585
General and administrative expenses 110 82 192 168
Depreciation and amortization 242 235 486 466
Losses on asset sales, asset impairments and other, net 59 42 6 29
Total costs and expenses 17,295 10,403 29,361 21,525
OPERATING INCOME 398 239 801 594
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 89 94 178 196
Gain on investments in unconsolidated entities, net 0 0 0 31
Interest expense (net of capitalized interest of $2, $3, $3 and $5, respectively) (153) (133) (320) (260)
Other income, net 42 31 49 57
INCOME FROM CONTINUING OPERATIONS BEFORE TAX 376 231 708 618
Current income tax expense from continuing operations (107) (1) (322) (6)
Deferred income tax (expense)/benefit from continuing operations 7 (3) 222 (5)
INCOME FROM CONTINUING OPERATIONS, NET OF TAX 276 227 608 607
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 2) 1,649 70 1,548 206
NET INCOME 1,925 297 2,156 813
Net income attributable to noncontrolling interests (95) (87) (173) (160)
NET INCOME ATTRIBUTABLE TO PAA 1,830 210 1,983 653
Common Units        
NET INCOME PER COMMON UNIT (Note 4):        
Net income allocated to common unitholders — basic: continuing operations 121 80 322 287
Net income allocated to common unitholders— diluted: continuing operations 121 80 322 287
Net income allocated to common unitholders — basic: discontinued operations 1,649 70 1,548 206
Net income allocated to common unitholders — diluted: discontinued operations 1,649 70 1,548 206
Net income allocated to common unitholders - basic 1,770 150 1,870 493
Net income allocated to common unitholders - diluted $ 1,770 $ 150 $ 1,870 $ 493
Basic weighted average common units outstanding (units) 706 703 706 704
Diluted weighted average common units outstanding (units) 706 703 706 704
Basic net income per common unit: continuing operations (usd per unit) $ 0.17 $ 0.11 $ 0.46 $ 0.41
Diluted net income per common unit: continuing operations (usd per unit) 0.17 0.11 0.46 0.41
Basic net income per common unit: discontinuing operations (usd per unit) 2.34 0.10 2.19 0.29
Diluted net income per common unit: discontinuing operations (usd per unit) 2.34 0.10 2.19 0.29
Basic net income per common unit (usd per unit) 2.51 0.21 2.65 0.70
Diluted net income per common unit (usd per unit) $ 2.51 $ 0.21 $ 2.65 $ 0.70
Product sales revenues        
REVENUES        
Total revenues $ 17,221 $ 10,197 $ 29,246 $ 21,243
Services revenues        
REVENUES        
Total revenues $ 472 $ 445 $ 916 $ 876