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Acquisitions, Divestitures and Other Transactions (Tables) | 12 Months Ended
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Dec. 31, 2023
OMOG JV LLC and Southern Delaware Gathering Assets |
Business Acquisition [Line Items] |
Schedule of Assets Acquired and Liabilities Assumed | The following table reflects our determination of the fair value of the assets acquired and liabilities assumed in connection with the transaction (in millions):
Identifiable Assets Acquired and Liabilities Assumed: |  | Estimated Useful Lives (in years) |  | Recognized Amount
Property and equipment |  | 3-30 |  | $ | 484 |
Intangible assets |  | 10 |  | 34 |
Working capital and other assets and liabilities |  | N/A |  | 14 |
|  |  |  | $ | 532 |
OMOG JV LLC and Southern Delaware Gathering Assets | Customer relationships |
Business Acquisition [Line Items] |
Schedule of Amortization Expense | Amortization expense was approximately $4 million during the year ended December 31, 2023, and the future amortization expense through 2028 is estimated as follows (in millions):
2024 |  |  |  | $ | 8 |
2025 |  |  |  | $ | 10 |
2026 |  |  |  | $ | 4 |
2027 |  |  |  | $ | 3 |
2028 |  |  |  | $ | 2 |
Cactus II Pipeline LLC |
Business Acquisition [Line Items] |
Schedule of Assets Acquired and Liabilities Assumed | The following table reflects our determination of the fair value of those assets and liabilities (in millions):
Identifiable Assets Acquired and Liabilities Assumed: |  | Estimated Useful Lives (in years) |  | Recognized Amount
Property and equipment |  | 3-50 |  | $ | 1,174 |
Intangible assets |  | 20 |  | 428 |
Working capital and other assets and liabilities |  | N/A |  | (46) |
|  |  |  | $ | 1,556 |
Cactus II Pipeline LLC | Customer relationships |
Business Acquisition [Line Items] |
Schedule of Amortization Expense | Amortization expense was approximately $61 million and $13 million during the years ended December 31, 2023 and 2022, respectively, and the future amortization expense through 2027 is estimated as follows (in millions):
2024 |  |  |  | $ | 51 |
2025 |  |  |  | $ | 47 |
2026 |  |  |  | $ | 32 |
2027 |  |  |  | $ | 32 |
Plains Oryx Permian Basin LLC | Modified Sharing Arrangement |
Business Acquisition [Line Items] |
Schedule of Modified Revenue Sharing Arrangement | Under the MSA, distributions will be allocated as follows (in millions):
|  | Available Cash |  | Distributions Percentages
Tier |  | Annualized |  | PAA |  | Oryx
1 |  | Up to $300 |  | 50% |  | 50%
2 |  | $300 - $428 |  | 100% |  | —%
3 |  | $428 - $815 |  | 65% |  | 35%
4 |  | $815 and above |  | 70% |  | 30%
Plains Oryx Permian Basin LLC | Oryx Midstream Holdings LLC | Joint Venture Transaction |
Business Acquisition [Line Items] |
Schedule of Assets Acquired and Liabilities Assumed | The following table reflects our determination of the fair value of those assets and liabilities (in millions):
Identifiable Assets Acquired and Liabilities Assumed |  | Estimated Useful Lives (in years) |  | Recognized Amount
Property and equipment |  | 3-30 |  | $ | 1,886 |
Intangible assets |  | 20 |  | 1,247 |
Investment in unconsolidated entities |  | N/A |  | 103 |
Working capital and other assets and liabilities |  | N/A |  | (6) |
|  |  |  | $ | 3,230 |
Schedule of Partners' Capital | The following table presents the amounts recognized in partners’ capital associated with this transaction (in millions):
|  |  |  | Recognized Amount
Noncontrolling interests |  |  |  | $ | 2,635 |
Partners’ capital, excluding noncontrolling interests |  |  |  | 595 |
|  |  |  | $ | 3,230 |
Schedule of Pro Forma Information | These results are not necessarily indicative of the results that might have actually occurred had the merger taken place on January 1, 2021; furthermore, this financial information is not intended to be a projection of future results (in millions, except per unit amounts):
| Year Ended
| December 31, 2021
Total revenues | $ | 42,359 |
Net income attributable to PAA | $ | 524 |
Net income allocated to common unitholders | $ | 324 |
Basic and diluted net income per common unit | $ | 0.45 |
Plains Oryx Permian Basin LLC | Customer relationships | Joint Venture Transaction |
Business Acquisition [Line Items] |
Schedule of Amortization Expense | Amortization expense was approximately $138 million, $142 million and $28 million during the years ended December 31, 2023, 2022 and 2021, respectively, and the future amortization expense through 2026 is estimated as follows (in millions):
2024 |  |  |  | $ | 127 |
2025 |  |  |  | $ | 117 |
2026 |  |  |  | $ | 106 |

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