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Partners' Capital and Distributions (Tables)
6 Months Ended
Jun. 30, 2011
Partners' Capital and Distributions  
Changes made to holdings in limited partner units of PNG

 

December 31,
2010

 

February 2011
PNG Issuance

 

Transaction
Grants

 

June 30,
2011

 

PNG Units Owned by PAA:

 

 

 

 

 

 

 

 

 

Common Units

 

18.1

 

10.2

 

(0.1

)

28.2

 

Series A Subordinated Units

 

11.9

 

 

 

11.9

 

Series B Subordinated Units

 

13.5

 

 

 

13.5

 

Total PNG Units Owned by PAA

 

43.5

 

10.2

 

(0.1

)

53.6

 

 

Schedule of impact of changes in the entity ownership interest in subsidiary on the entity's capital

 

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

 

2011

 

2010

 

Net income attributable to Plains

 

$

408

 

$

282

 

Transfers to the noncontrolling interests:

 

 

 

 

 

Increase in capital from sale of PNG units

 

64

 

101

 

Change from net income attributable to Plains and net transfers to the noncontrolling interest

 

$

472

 

$

383

 

 

Schedule of changes in noncontrolling interests in partners' capital

 

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

 

2011

 

2010

 

Beginning balance

 

$

231

 

$

63

 

Sale of noncontrolling interests in a subsidiary

 

306

 

167

 

Net income attributable to noncontrolling interests

 

10

 

2

 

Distributions to noncontrolling interests

 

(16

)

(1

)

Equity compensation expense

 

2

 

 

Ending Balance

 

$

533

 

$

231

 

 

Total cash distributions made

 

 

 

 

 

Distributions Paid

 

Distributions

 

 

 

 

 

Common

 

General Partner

 

 

 

per limited

 

Date Declared

 

Date Paid or To Be Paid

 

Units

 

Incentive

 

2%

 

Total

 

partner unit

 

July 11, 2011

 

August 12, 2011 (1)

 

$

147

 

$

52

 

$

3

 

$

202

 

$

0.9825

 

April 11, 2011

 

May 13, 2011

 

$

145

 

$

50

 

$

3

 

$

198

 

$

0.9700

 

January 12, 2011

 

February 14, 2011

 

$

135

 

$

46

 

$

3

 

$

184

 

$

0.9575

 

 

 

(1)       Payable to unitholders of record at the close of business on August 2, 2011, for the period April 1, 2011 through June 30, 2011.

 

Equity offerings of common units

 

 

 

 

 

 

 

 

 

General

 

 

 

 

 

 

 

 

 

Gross

 

Proceeds

 

Partner

 

 

 

Net

 

Date

 

Units Issued

 

Unit Price

 

from Sale

 

Contribution

 

Costs

 

Proceeds

 

March 2011 (1)

 

7,935,000

 

$

64.00

 

$

508

 

$

10

 

$

(15

)

$

503

 

 

 

(1)       This offering of common units was an underwritten transaction that required us to pay a gross spread. The net proceeds from this offering were used to reduce outstanding borrowings under our credit facilities and for general partnership purposes.