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Operating Segments (Tables) | 9 Months Ended
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Sep. 30, 2014
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, 2014 |  |  |  |  |  |  |  |  |
Revenues (1): |  |  |  |  |  |  |  |  |
External Customers |  | $ | 198 |  | $ | 141 |  | $ | 10,788 |  | $ | 11,127 |
Intersegment (2) |  | 226 |  | 140 |  | 5 |  | 371 |
Total revenues of reportable segments |  | $ | 424 |  | $ | 281 |  | $ | 10,793 |  | $ | 11,498 |
Equity earnings in unconsolidated entities |  | $ | 29 |  | $ | — |  | $ | — |  | $ | 29 |
Segment profit (3) (4) |  | $ | 231 |  | $ | 147 |  | $ | 152 |  | $ | 530 |
Maintenance capital |  | $ | 35 |  | $ | 19 |  | $ | 2 |  | $ | 56 |
Three Months Ended September 30, 2013 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
External Customers |  | $ | 179 |  | $ | 138 |  | $ | 10,386 |  | $ | 10,703 |
Intersegment (2) |  | 199 |  | 142 |  | — |  | 341 |
Total revenues of reportable segments |  | $ | 378 |  | $ | 280 |  | $ | 10,386 |  | $ | 11,044 |
Equity earnings in unconsolidated entities |  | $ | 19 |  | $ | — |  | $ | — |  | $ | 19 |
Segment profit (3) (4) |  | $ | 198 |  | $ | 146 |  | $ | 64 |  | $ | 408 |
Maintenance capital |  | $ | 29 |  | $ | 6 |  | $ | 7 |  | $ | 42 |
|  | Transportation |  | Facilities |  | Supply and Logistics |  | Total |
Nine Months Ended September 30, 2014 |  |  |  |  |  |  |  |  |
Revenues (1): |  |  |  |  |  |  |  |  |
External Customers |  | $ | 574 |  | $ | 443 |  | $ | 32,988 |  | $ | 34,005 |
Intersegment (2) |  | 648 |  | 415 |  | 33 |  | 1,096 |
Total revenues of reportable segments |  | $ | 1,222 |  | $ | 858 |  | $ | 33,021 |  | $ | 35,101 |
Equity earnings in unconsolidated entities |  | $ | 73 |  | $ | — |  | $ | — |  | $ | 73 |
Segment profit (3) (4) |  | $ | 658 |  | $ | 435 |  | $ | 534 |  | $ | 1,627 |
Maintenance capital |  | $ | 111 |  | $ | 34 |  | $ | 6 |  | $ | 151 |
Nine Months Ended September 30, 2013 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
External Customers |  | $ | 517 |  | $ | 558 |  | $ | 30,542 |  | $ | 31,617 |
Intersegment (2) |  | 594 |  | 425 |  | 2 |  | 1,021 |
Total revenues of reportable segments |  | $ | 1,111 |  | $ | 983 |  | $ | 30,544 |  | $ | 32,638 |
Equity earnings in unconsolidated entities |  | $ | 42 |  | $ | — |  | $ | — |  | $ | 42 |
Segment profit (3) (4) |  | $ | 522 |  | $ | 445 |  | $ | 673 |  | $ | 1,640 |
Maintenance capital |  | $ | 84 |  | $ | 23 |  | $ | 17 |  | $ | 124 |
(1) Effective January 1, 2014, our natural gas sales and costs, primarily attributable to the activities performed by our natural gas storage commercial optimization group, are reported in the Supply and Logistics segment. Such items were previously reported in the Facilities segment. (2) 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 2013 Annual Report on Form 10-K. (3) Supply and Logistics segment profit includes interest expense (related to hedged inventory purchases) of $4 million and $8 million for the three months ended September 30, 2014 and 2013, respectively, and $11 million and $21 million for the nine months ended September 30, 2014 and 2013, respectively. (4) The following table reconciles segment profit to net income attributable to PAA (in millions):
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
|  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Segment profit |  | $ | 530 |  | $ | 408 |  | $ | 1,627 |  | $ | 1,640 |
Depreciation and amortization |  | (97 | ) | (93 | ) | (293 | ) | (265 | )
Interest expense, net |  | (85 | ) | (72 | ) | (246 | ) | (224 | )
Other income/(expense), net |  | (4 | ) | 3 |  | (2 | ) | 2 |
Income before tax |  | 344 |  | 246 |  | 1,086 |  | 1,153 |
Income tax expense |  | (20 | ) | (9 | ) | (90 | ) | (79 | )
Net income |  | 324 |  | 237 |  | 996 |  | 1,074 |
Net income attributable to noncontrolling interests |  | (1 | ) | (6 | ) | (2 | ) | (22 | )
Net income attributable to PAA |  | $ | 323 |  | $ | 231 |  | $ | 994 |  | $ | 1,052 |
Reconciliation of segment profit to net income attributable to PAA | The following table reconciles segment profit to net income attributable to PAA (in millions):
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
|  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Segment profit |  | $ | 530 |  | $ | 408 |  | $ | 1,627 |  | $ | 1,640 |
Depreciation and amortization |  | (97 | ) | (93 | ) | (293 | ) | (265 | )
Interest expense, net |  | (85 | ) | (72 | ) | (246 | ) | (224 | )
Other income/(expense), net |  | (4 | ) | 3 |  | (2 | ) | 2 |
Income before tax |  | 344 |  | 246 |  | 1,086 |  | 1,153 |
Income tax expense |  | (20 | ) | (9 | ) | (90 | ) | (79 | )
Net income |  | 324 |  | 237 |  | 996 |  | 1,074 |
Net income attributable to noncontrolling interests |  | (1 | ) | (6 | ) | (2 | ) | (22 | )
Net income attributable to PAA |  | $ | 323 |  | $ | 231 |  | $ | 994 |  | $ | 1,052 |

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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 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 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=35741047&loc=d3e13816-109267 Reference 4: 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 5: 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 + Details
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