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Operating Segments (Tables) | 9 Months Ended
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Sep. 30, 2012
Operating Segments |
Segment financial data |
The following table reflects certain financial data for each segment for the periods indicated (in millions):
|  | Transportation |  | Facilities |  | Supply and Logistics |  | Total |
Three Months Ended September 30, 2012 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
External Customers |  | $ | 150 |  | $ | 156 |  | $ | 9,048 |  | $ | 9,354 |
Intersegment (1) |  | 214 |  | 106 |  | 1 |  | 321 |
Total revenues of reportable segments |  | $ | 364 |  | $ | 262 |  | $ | 9,049 |  | $ | 9,675 |
Equity earnings in unconsolidated entities |  | $ | 9 |  | $ | — |  | $ | — |  | $ | 9 |
Segment profit (2) (3) |  | $ | 184 |  | $ | 140 |  | $ | 142 |  | $ | 466 |
Maintenance capital |  | $ | 26 |  | $ | 17 |  | $ | 4 |  | $ | 47 |
Three Months Ended September 30, 2011 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
External Customers |  | $ | 140 |  | $ | 153 |  | $ | 8,544 |  | $ | 8,837 |
Intersegment (1) |  | 160 |  | 38 |  | 1 |  | 199 |
Total revenues of reportable segments |  | $ | 300 |  | $ | 191 |  | $ | 8,545 |  | $ | 9,036 |
Equity earnings in unconsolidated entities |  | $ | 4 |  | $ | — |  | $ | — |  | $ | 4 |
Segment profit (2) (3) |  | $ | 152 |  | $ | 95 |  | $ | 179 |  | $ | 426 |
Maintenance capital |  | $ | 17 |  | $ | 6 |  | $ | 2 |  | $ | 25 |
Nine Months Ended September 30, 2012 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
External Customers |  | $ | 458 |  | $ | 533 |  | $ | 27,367 |  | $ | 28,358 |
Intersegment (1) |  | 585 |  | 252 |  | 1 |  | 838 |
Total revenues of reportable segments |  | $ | 1,043 |  | $ | 785 |  | $ | 27,368 |  | $ | 29,196 |
Equity earnings in unconsolidated entities |  | $ | 25 |  | $ | — |  | $ | — |  | $ | 25 |
Segment profit (2) (3) |  | $ | 516 |  | $ | 344 |  | $ | 544 |  | $ | 1,404 |
Maintenance capital |  | $ | 78 |  | $ | 34 |  | $ | 11 |  | $ | 123 |
Nine Months Ended September 30, 2011 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
External Customers |  | $ | 428 |  | $ | 396 |  | $ | 24,566 |  | $ | 25,390 |
Intersegment (1) |  | 436 |  | 120 |  | 1 |  | 557 |
Total revenues of reportable segments |  | $ | 864 |  | $ | 516 |  | $ | 24,567 |  | $ | 25,947 |
Equity earnings in unconsolidated entities |  | $ | 9 |  | $ | — |  | $ | — |  | $ | 9 |
Segment profit (2) (3) |  | $ | 416 |  | $ | 259 |  | $ | 464 |  | $ | 1,139 |
Maintenance capital |  | $ | 52 |  | $ | 16 |  | $ | 9 |  | $ | 77 |
(1) | Segment revenues and purchases and related costs include intersegment amounts. Intersegment sales are conducted at posted tariff rates, rates similar to those charged to third parties or rates that we believe approximate market. For further discussion, see “Analysis of Operating Segments” under Item 7 of our 2011 Annual Report on Form 10-K.
(2) | Supply and Logistics segment profit includes interest expense (related to hedged inventory purchases) of approximately $3 million and $6 million for the three months ended September 30, 2012 and 2011, respectively, and approximately $9 million and $17 million for the nine months ended September 30, 2012 and 2011, respectively.
(3) | The following table reconciles segment profit to net income attributable to Plains (in millions):
|  | For the Three Months |  | For the Nine Months |
|  | Ended September 30, |  | Ended September 30, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Segment profit |  | $ | 466 |  | $ | 426 |  | $ | 1,404 |  | $ | 1,139 |
Depreciation and amortization |  | (210 | ) | (65 | ) | (356 | ) | (191 | )
Interest expense |  | (74 | ) | (62 | ) | (214 | ) | (190 | )
Other income/(expense), net |  | 4 |  | (5 | ) | 6 |  | (24 | )
Income tax expense |  | (13 | ) | (6 | ) | (43 | ) | (28 | )
Net income |  | 173 |  | 288 |  | 797 |  | 706 |
Net income attributable to noncontrolling interests |  | (8 | ) | (7 | ) | (23 | ) | (18 | )
Net income attributable to Plains |  | $ | 165 |  | $ | 281 |  | $ | 774 |  | $ | 688 |
Reconciliation of segment profit to net income attributable to Plains |
The following table reconciles segment profit to net income attributable to Plains (in millions):
|  | For the Three Months |  | For the Nine Months |
|  | Ended September 30, |  | Ended September 30, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Segment profit |  | $ | 466 |  | $ | 426 |  | $ | 1,404 |  | $ | 1,139 |
Depreciation and amortization |  | (210 | ) | (65 | ) | (356 | ) | (191 | )
Interest expense |  | (74 | ) | (62 | ) | (214 | ) | (190 | )
Other income/(expense), net |  | 4 |  | (5 | ) | 6 |  | (24 | )
Income tax expense |  | (13 | ) | (6 | ) | (43 | ) | (28 | )
Net income |  | 173 |  | 288 |  | 797 |  | 706 |
Net income attributable to noncontrolling interests |  | (8 | ) | (7 | ) | (23 | ) | (18 | )
Net income attributable to Plains |  | $ | 165 |  | $ | 281 |  | $ | 774 |  | $ | 688 |

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- Definition Tabular disclosure of the reconciliation of total profit or loss from reportable segments, to the entity's net income attributable to the parent. + References No definition available. + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 + Details
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