XML 34 R23.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Net Income Per Common Unit (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Income per Common Unit
The following table sets forth the computation of basic and diluted net income per common unit (in millions, except per unit data):

 Three Months Ended
March 31,
 20242023
Basic and Diluted Net Income per Common Unit  
Net income attributable to PAA$266 $422 
Distributions to Series A preferred unitholders
(44)(42)
Distributions to Series B preferred unitholders
(19)(18)
Amounts allocated to participating securities(1)(2)
Other
1 1 
Net income allocated to common unitholders (1)
$203 $361 
Basic and diluted weighted average common units outstanding701 698 
Basic and diluted net income per common unit$0.29 $0.52 
(1)We calculate net income allocated to common unitholders based on the distributions pertaining to the current period’s net income. After adjusting for the appropriate period’s distributions, the remaining undistributed earnings or excess distributions over earnings (i.e., undistributed loss), if any, are allocated to the common unitholders and participating securities in accordance with the contractual terms of our partnership agreement in effect for the period and as further prescribed under the two-class method.