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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Total revenues $ 12,933 $ 11,602 $ 24,928 $ 23,943
COSTS AND EXPENSES        
Purchases and related costs 11,858 10,544 22,775 21,867
Field operating costs 350 333 708 690
General and administrative expenses 93 85 189 171
Depreciation and amortization 257 259 511 515
(Gains)/losses on asset sales, net 1 3 1 (150)
Total costs and expenses 12,559 11,224 24,184 23,093
OPERATING INCOME 374 378 744 850
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 106 89 201 178
Interest expense (net of capitalized interest of $2, $3, $4, and $5, respectively) (111) (95) (205) (193)
Other income, net 23 20 18 85
INCOME BEFORE TAX 392 392 758 920
Current income tax expense (69) (20) (123) (81)
Deferred income tax (expense)/benefit 7 (23) 46 (15)
NET INCOME 330 349 681 824
Net income attributable to noncontrolling interests (80) (56) (166) (109)
NET INCOME ATTRIBUTABLE TO PAA 250 293 515 715
NET INCOME PER COMMON UNIT (NOTE 3):        
Net income allocated to common unitholders - Basic 180 227 382 588
Net income allocated to common unitholders - Diluted $ 180 $ 227 $ 382 $ 588
Common Units        
NET INCOME PER COMMON UNIT (NOTE 3):        
Basic weighted average common units outstanding (units) 701 698 701 698
Diluted weighted average common units outstanding (units) 701 698 701 698
Basic net income per common unit (usd per unit) $ 0.26 $ 0.32 $ 0.55 $ 0.84
Diluted net income per common unit (usd per unit) $ 0.26 $ 0.32 $ 0.55 $ 0.84
Product sales revenues        
REVENUES        
Total revenues $ 12,493 $ 11,201 $ 24,039 $ 23,145
Services revenues        
REVENUES        
Total revenues $ 440 $ 401 $ 889 $ 798