Operating Segments (Tables)

12 Months Ended

Dec. 31, 2014

	Transportation		Facilities		Supply and Logistics		Total
Year Ended December 31, 2014
Revenues (1):
External Customers	$	774	$	576	$	42,114	$	43,464
Intersegment (2)	881		551		36		1,468
Total revenues of reportable segments	$	1,655	$	1,127	$	42,150	$	44,932
Equity earnings in unconsolidated entities	$	108	$	—	$	—	$	108
Segment profit (3) (4)	$	925	$	584	$	782	$	2,291
Capital expenditures (5)	$	2,483	$	582	$	60	$	3,125
Maintenance capital	$	165	$	52	$	7	$	224

As of December 31, 2014
Total assets	$	9,637	$	6,843	$	5,776	$	22,256
Investments in unconsolidated entities	$	1,735	$	—	$	—	$	1,735

	Transportation		Facilities		Supply and Logistics		Total
Year Ended December 31, 2013
Revenues:
External Customers	$	701	$	856	$	40,692	$	42,249
Intersegment (2)	797		521		4		1,322
Total revenues of reportable segments	$	1,498	$	1,377	$	40,696	$	43,571
Equity earnings in unconsolidated entities	$	64	$	—	$	—	$	64
Segment profit (3) (4)	$	729	$	616	$	822	$	2,167
Capital expenditures (5)	$	1,046	$	549	$	46	$	1,641
Maintenance capital	$	123	$	38	$	15	$	176

As of December 31, 2013
Total assets	$	7,221	$	6,555	$	6,584	$	20,360
Investments in unconsolidated entities	$	485	$	—	$	—	$	485

	Transportation		Facilities		Supply and Logistics		Total
Year Ended December 31, 2012
Revenues:
External Customers	$	623	$	736	$	36,438	$	37,797
Intersegment (2)	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 (3) (4)	$	710	$	482	$	753	$	1,945
Capital expenditures (5)	$	1,244	$	1,724	$	503	$	3,471
Maintenance capital	$	108	$	49	$	13	$	170

As of December 31, 2012
Total assets	$	6,423	$	6,134	$	6,678	$	19,235
Investments in unconsolidated entities	$	343	$	—	$	—	$	343

(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.

(3)

Supply and Logistics segment profit includes interest expense (related to hedged inventory purchases) of $12 million, $30 million and $12 million for the years ended December 31, 2014, 2013 and 2012, respectively.

(4)

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

	Year Ended December 31,
	2014			2013			2012
Segment profit	$	2,291		$	2,167		$	1,945
Depreciation and amortization	(392		)	(375		)	(482		)
Interest expense, net	(340		)	(303		)	(288		)
Other income/(expense), net	(2		)	1			6
Income before tax	1,557			1,490			1,181
Income tax expense	(171		)	(99		)	(54		)
Net income	1,386			1,391			1,127
Net income attributable to noncontrolling interests	(2		)	(30		)	(33		)
Net income attributable to PAA	$	1,384		$	1,361		$	1,094

(5)

Expenditures for acquisition capital and expansion capital, including investments in unconsolidated entities.

Reconciliation of segment profit to net income attributable to PAA

	Year Ended December 31,
	2014			2013			2012
Segment profit	$	2,291		$	2,167		$	1,945
Depreciation and amortization	(392		)	(375		)	(482		)
Interest expense, net	(340		)	(303		)	(288		)
Other income/(expense), net	(2		)	1			6
Income before tax	1,557			1,490			1,181
Income tax expense	(171		)	(99		)	(54		)
Net income	1,386			1,391			1,127
Net income attributable to noncontrolling interests	(2		)	(30		)	(33		)
Net income attributable to PAA	$	1,384		$	1,361		$	1,094

Revenues attributable to geographical areas

	Year Ended December 31,
Revenues (1)	2014		2013		2012
United States	$	34,860	$	32,924	$	29,978
Canada	8,604		9,325		7,819
	$	43,464	$	42,249	$	37,797

(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)	2014		2013
United States	$	14,400	$	11,743
Canada	3,650		3,623
	$	18,050	$	15,366

(1)

Excludes long-term derivative assets.

- 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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