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Operating Segments (Tables)
 12 Months Ended
Dec. 31, 2012
Operating Segments  
Segment financial data

 

 

 

 

Transportation

 

Facilities

 

Supply and Logistics

 

Total

 

Twelve Months Ended December 31, 2012

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

External Customers

 

$

623

 

$

736

 

$

36,438

 

$

37,797

 

Intersegment (1)

 

793

 

362

 

2

 

1,157

 

Total revenues of reportable segments

 

$

1,416

 

$

1,098

 

$

36,440

 

$

38,954

 

Equity earnings in unconsolidated entities

 

$

38

 

$

—

 

$

—

 

$

38

 

Segment profit (2) (3)

 

$

710

 

$

482

 

$

753

 

$

1,945

 

Capital expenditures

 

$

1,244

 

$

1,724

 

$

503

 

$

3,471

 

Total assets

 

$

6,423

 

$

6,134

 

$

6,678

 

$

19,235

 

Maintenance capital

 

$

108

 

$

49

 

$

13

 

$

170

 

 

 

 

 

 

 

 

 

 

 

Twelve Months Ended December 31, 2011

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

External Customers

 

$

572

 

$

638

 

$

33,065

 

$

34,275

 

Intersegment (1)

 

593

 

158

 

3

 

754

 

Total revenues of reportable segments

 

$

1,165

 

$

796

 

$

33,068

 

$

35,029

 

Equity earnings in unconsolidated entities

 

$

13

 

$

—

 

$

—

 

$

13

 

Segment profit (2) (3)

 

$

555

 

$

358

 

$

647

 

$

1,560

 

Capital expenditures

 

$

600

 

$

1,317

 

$

18

 

$

1,935

 

Total assets

 

$

5,156

 

$

4,506

 

$

5,719

 

$

15,381

 

Maintenance capital

 

$

86

 

$

22

 

$

12

 

$

120

 

 

 

 

 

 

 

 

 

 

 

Twelve Months Ended December 31, 2010

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

External Customers

 

$

565

 

$

339

 

$

24,989

 

$

25,893

 

Intersegment (1)

 

480

 

151

 

1

 

632

 

Total revenues of reportable segments

 

$

1,045

 

$

490

 

$

24,990

 

$

26,525

 

Equity earnings in unconsolidated entities

 

$

3

 

$

—

 

$

—

 

$

3

 

Segment profit (2) (3)

 

$

516

 

$

270

 

$

240

 

$

1,026

 

Capital expenditures

 

$

329

 

$

270

 

$

163

 

$

762

 

Total assets

 

$

4,701

 

$

3,303

 

$

5,699

 

$

13,703

 

Maintenance capital

 

$

67

 

$

17

 

$

9

 

$

93

 

 

(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.

 

(2)                                     Supply and Logistics segment profit includes interest expense (related to hedged inventory purchases) of approximately $12 million, $20 million and $17 million for the years ended December 31, 2012, 2011 and 2010, respectively.

 

(3)                                     The following table reconciles segment profit to net income attributable to Plains (in millions):

 

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

2010

 

Segment profit

 

$

1,945

 

$

1,560

 

$

1,026

 

Depreciation and amortization

 

(482

)

(249

)

(256

)

Interest expense

 

(288

)

(253

)

(248

)

Other income/(expense), net

 

6

 

(19

)

(9

)

Income tax benefit/(expense)

 

(54

)

(45

)

1

 

Net income

 

1,127

 

994

 

514

 

Net income attributable to noncontrolling interests

 

(33

)

(28

)

(9

)

Net income attributable to Plains

 

$

1,094

 

$

966

 

$

505

 

 
Reconciliation of segment profit to net income attributable to Plains

 

 

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

2010

 

Segment profit

 

$

1,945

 

$

1,560

 

$

1,026

 

Depreciation and amortization

 

(482

)

(249

)

(256

)

Interest expense

 

(288

)

(253

)

(248

)

Other income/(expense), net

 

6

 

(19

)

(9

)

Income tax benefit/(expense)

 

(54

)

(45

)

1

 

Net income

 

1,127

 

994

 

514

 

Net income attributable to noncontrolling interests

 

(33

)

(28

)

(9

)

Net income attributable to Plains

 

$

1,094

 

$

966

 

$

505

 

 
Revenues attributable to geographical areas

 

 

 

 

Year Ended December 31,

 

Revenues (1)

 

2012

 

2011

 

2010

 

United States

 

$

29,978

 

$

28,181

 

$

21,471

 

Canada

 

7,819

 

6,094

 

4,422

 

 

 

$

37,797

 

$

34,275

 

$

25,893

 

 

(1)                                     Revenues are primarily attributed to each region based on where the services are provided or the product is shipped.
Long-lived assets attributable to geographical areas

 

 

 

December 31,

 

Long-Lived Assets (1)

 

2012

 

2011

 

United States

 

$

10,401

 

$

9,127

 

Canada

 

3,677

 

1,883

 

 

 

$

14,078

 

$

11,010

 

 

(1)                                     Excludes long-term derivative assets.