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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES        
Total revenues $ 12,743 $ 12,071 $ 37,671 $ 36,014
COSTS AND EXPENSES        
Purchases and related costs 11,557 11,106 34,333 32,972
Field operating costs 483 372 1,191 1,062
General and administrative expenses 98 92 287 263
Depreciation and amortization 257 260 769 776
(Gains)/losses on asset sales, net 1 7 1 (144)
Total costs and expenses 12,396 11,837 36,581 34,929
OPERATING INCOME 347 234 1,090 1,085
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 97 99 298 277
Gain on investment in unconsolidated entities   29   28
Interest expense (net of capitalized interest of $2, $3, $7, and $8, respectively) (113) (97) (318) (290)
Other income, net 26   45 85
INCOME BEFORE TAX 357 265 1,115 1,185
Current income tax expense (20) (22) (143) (104)
Deferred income tax (expense)/benefit (25) 36 21 22
NET INCOME 312 279 993 1,103
Net income attributable to noncontrolling interests (92) (76) (257) (185)
NET INCOME ATTRIBUTABLE TO PAA 220 203 736 918
NET INCOME PER COMMON UNIT (NOTE 3):        
Net income allocated to common unitholders - Basic 157 140 540 728
Net income allocated to common unitholders - Diluted $ 157 $ 140 $ 540 $ 728
Common Units        
NET INCOME PER COMMON UNIT (NOTE 3):        
Basic weighted average common units outstanding (units) 702 700 702 699
Diluted weighted average common units outstanding (units) 702 700 702 699
Basic net income per common unit (usd per unit) $ 0.22 $ 0.20 $ 0.77 $ 1.04
Diluted net income per common unit (usd per unit) $ 0.22 $ 0.20 $ 0.77 $ 1.04
Product sales revenues        
REVENUES        
Total revenues $ 12,282 $ 11,581 $ 36,321 $ 34,726
Services revenues        
REVENUES        
Total revenues $ 461 $ 490 $ 1,350 $ 1,288