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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Data (Unaudited)  
Quarterly Financial Data (Unaudited)

Note 17—Quarterly Financial Data (Unaudited)

 

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

 

 

Quarter

 

Quarter

 

Quarter

 

Quarter

 

Total (1)

 

 

 

(in millions, except per unit data)

 

2013

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

10,620

 

$

10,295

 

$

10,703

 

$

10,631

 

$

42,249

 

Gross margin (2)

 

$

761

 

$

474

 

$

375

 

$

478

 

$

2,087

 

Operating income

 

$

655

 

$

383

 

$

296

 

$

394

 

$

1,728

 

Net income

 

$

536

 

$

300

 

$

237

 

$

318

 

$

1,391

 

Net income attributable to PAA

 

$

528

 

$

292

 

$

231

 

$

309

 

$

1,361

 

Basic net income per limited partner unit

 

$

1.28

 

$

0.58

 

$

0.38

 

$

0.59

 

$

2.82

 

Diluted net income per limited partner unit

 

$

1.27

 

$

0.57

 

$

0.38

 

$

0.58

 

$

2.80

 

Cash distributions per common unit (3)

 

$

0.5625

 

$

0.5750

 

$

0.5875

 

$

0.6000

 

$

2.3250

 

 

 

 

 

 

 

 

 

 

 

 

 

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 PAA

 

$

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

 

 

(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.