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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2012
Quarterly Financial Data (Unaudited) |
Quarterly Financial Data (Unaudited) |
|  | First |  | Second |  | Third |  | Fourth |  |  |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |  | Total (1) |
|  | (in millions, except per unit data) |
2012 |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 9,218 |  | $ | 9,786 |  | $ | 9,354 |  | $ | 9,439 |  | $ | 37,797 |
Gross margin (2) |  | $ | 407 |  | $ | 551 |  | $ | 328 |  | $ | 480 |  | $ | 1,767 |
Operating income |  | $ | 313 |  | $ | 462 |  | $ | 247 |  | $ | 402 |  | $ | 1,425 |
Net income |  | $ | 237 |  | $ | 386 |  | $ | 173 |  | $ | 330 |  | $ | 1,127 |
Net income attributable to Plains |  | $ | 230 |  | $ | 378 |  | $ | 165 |  | $ | 320 |  | $ | 1,094 |
Basic net income per limited partner unit |  | $ | 0.52 |  | $ | 0.93 |  | $ | 0.27 |  | $ | 0.70 |  | $ | 2.41 |
Diluted net income per limited partner unit |  | $ | 0.51 |  | $ | 0.93 |  | $ | 0.27 |  | $ | 0.69 |  | $ | 2.40 |
Cash distributions per common unit (3) |  | $ | 0.5125 |  | $ | 0.5225 |  | $ | 0.5325 |  | $ | 0.5425 |  | $ | 2.1100 |
2011 |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 7,694 |  | $ | 8,859 |  | $ | 8,837 |  | $ | 8,884 |  | $ | 34,275 |
Gross margin (2) |  | $ | 355 |  | $ | 371 |  | $ | 413 |  | $ | 453 |  | $ | 1,592 |
Operating income |  | $ | 285 |  | $ | 298 |  | $ | 357 |  | $ | 359 |  | $ | 1,298 |
Net income |  | $ | 185 |  | $ | 233 |  | $ | 288 |  | $ | 288 |  | $ | 994 |
Net income attributable to Plains |  | $ | 182 |  | $ | 225 |  | $ | 281 |  | $ | 278 |  | $ | 966 |
Basic net income per limited partner unit |  | $ | 0.45 |  | $ | 0.57 |  | $ | 0.74 |  | $ | 0.69 |  | $ | 2.46 |
Diluted net income per limited partner unit |  | $ | 0.45 |  | $ | 0.57 |  | $ | 0.74 |  | $ | 0.68 |  | $ | 2.44 |
Cash distributions per common unit (3) |  | $ | 0.4788 |  | $ | 0.4850 |  | $ | 0.4913 |  | $ | 0.4975 |  | $ | 1.9525 |
(1) The sum of the four quarters may not equal the total year due to rounding. (2) Gross margin is calculated as Total revenues less (i) Purchases and related costs, (ii) Field operating costs and (iii) Depreciation and amortization. (3) Represents cash distributions declared and paid in the applicable period.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 + Details
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