Operating Segments (Tables)

3 Months Ended

Mar. 31, 2013

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 March 31, 2013
Revenues:
External Customers	$	173	$	223	$	10,224	$	10,620
Intersegment (1)	195		131		1		327
Total revenues of reportable segments	$	368	$	354	$	10,225	$	10,947
Equity earnings in unconsolidated entities	$	11	$	—	$	—	$	11
Segment profit (2) (3)	$	164	$	150	$	434	$	748
Maintenance capital	$	32	$	7	$	5	$	44

Three Months Ended March 31, 2012
Revenues:
External Customers	$	150	$	191	$	8,877	$	9,218
Intersegment (1)	167		45		—		212
Total revenues of reportable segments	$	317	$	236	$	8,877	$	9,430
Equity earnings in unconsolidated entities	$	7	$	—	$	—	$	7
Segment profit (2) (3)	$	162	$	90	$	128	$	380
Maintenance capital	$	24	$	7	$	4	$	35

(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 2012 Annual Report on Form 10-K.

(2) Supply and Logistics segment profit includes interest expense (related to hedged inventory) of approximately $5 million and $2 million for the three months ended March 31, 2013 and 2012, respectively.

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

	For the Three Months
	Ended March 31,
	2013			2012
Segment profit	$	748		$	380
Depreciation and amortization	(82		)	(60		)
Interest expense	(77		)	(65		)
Other income, net	—			2
Income tax expense	(53		)	(20		)
Net income	536			237
Net income attributable to noncontrolling interests	(8		)	(7		)
Net income attributable to Plains	$	528		$	230

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
	Ended March 31,
	2013			2012
Segment profit	$	748		$	380
Depreciation and amortization	(82		)	(60		)
Interest expense	(77		)	(65		)
Other income, net	—			2
Income tax expense	(53		)	(20		)
Net income	536			237
Net income attributable to noncontrolling interests	(8		)	(7		)
Net income attributable to Plains	$	528		$	230

- 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.

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