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Net Income Per Common Unit (Tables) | 6 Months Ended
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Jun. 30, 2025
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 June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Basic and Diluted Net Income per Common Unit |  |  |  |  |  |  |
Continuing Operations: |  |  |  |  |  |  |
Income from continuing operations, net of tax | $ | 227 |  |  | $ | 298 |  |  | $ | 607 |  |  | $ | 639 |
Net income attributable to noncontrolling interests | (87) |  |  | (80) |  |  | (160) |  |  | (166) |
Net income from continuing operations attributable to PAA | 140 |  |  | 218 |  |  | 447 |  |  | 473 |
Distributions to Series A preferred unitholders | (36) |  |  | (44) |  |  | (75) |  |  | (88) |
Distributions to Series B preferred unitholders | (18) |  |  | (19) |  |  | (35) |  |  | (39) |
Amounts allocated to participating securities | (7) |  |  | (8) |  |  | (9) |  |  | (9) |
Impact from repurchase of Series A preferred units (1) | — |  |  | — |  |  | (43) |  |  | — |
Other | 1 |  |  | 1 |  |  | 2 |  |  | 3 |
Net income from continuing operations allocated to common unitholders - Basic and Diluted (2) | $ | 80 |  |  | $ | 148 |  |  | $ | 287 |  |  | $ | 340 |
Discontinued Operations: |  |  |  |  |  |  |
Net income from discontinued operations allocated to common unitholders - Basic and Diluted (3) | $ | 70 |  |  | $ | 32 |  |  | $ | 206 |  |  | $ | 42 |
Net income allocated to common unitholders — Basic and Diluted | $ | 150 |  |  | $ | 180 |  |  | $ | 493 |  |  | $ | 382 |
Basic and diluted weighted average common units outstanding | 703 |  |  | 701 |  |  | 704 |  |  | 701 |
Basic and diluted net income per common unit: |  |  |  |  |  |  |
Continuing operations | $ | 0.11 |  |  | $ | 0.21 |  |  | $ | 0.41 |  |  | $ | 0.49 |
Discontinued operations | 0.10 |  |  | 0.05 |  |  | 0.29 |  |  | 0.06 |
Basic and diluted net income per common unit | $ | 0.21 |  |  | $ | 0.26 |  |  | $ | 0.70 |  |  | $ | 0.55 |
(1)We repurchased approximately 12.7 million Series A preferred units on January 31, 2025. See Note 7 for additional information. The difference between the cash we paid for the repurchase of such units and their carrying value on our balance sheet is considered a return to Series A preferred unitholders for the calculation of net income allocated to common unitholders. (2)We calculate net income from continuing operations 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. (3)Net income from discontinued operations allocated to common unitholders is Income from discontinued operations, net of tax as presented on our Condensed Consolidated Statements of Operations.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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