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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES        
Total revenues $ 11,578 $ 12,456 $ 33,698 $ 36,854
COSTS AND EXPENSES        
Purchases and related costs 10,585 11,540 30,862 34,086
Field operating costs 288 408 873 962
General and administrative expenses 83 86 251 246
Depreciation and amortization 230 226 696 675
(Gains)/losses on asset sales, net (92) 0 (64) 2
Total costs and expenses 11,094 12,260 32,618 35,971
OPERATING INCOME 484 196 1,080 883
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 96 97 292 298
Gain on investments in unconsolidated entities, net     31  
Interest expense (net of capitalized interest of $4, $2, $9 and $7, respectively) (135) (113) (395) (318)
Other income, net 14 26 70 45
INCOME FROM CONTINUING OPERATIONS BEFORE TAX 459 206 1,078 908
Current income tax expense from continuing operations (5) (4) (11) (72)
Deferred income tax (expense)/benefit from continuing operations (1) (4) (6) 1
INCOME FROM CONTINUING OPERATIONS, NET OF TAX 453 198 1,061 837
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 2) 76 114 281 156
NET INCOME 529 312 1,342 993
Net income attributable to noncontrolling interests (88) (92) (249) (257)
NET INCOME ATTRIBUTABLE TO PAA 441 220 1,093 736
NET INCOME PER COMMON UNIT (NOTE 4):        
Net income allocated to common unitholders — Basic : Continuing operations 311 43 599 384
Net income allocated to common unitholders — Diluted: Continuing operations 311 43 599 384
Net income allocated to common unitholders — Basic : Discontinued operations 76 114 281 156
Net income allocated to common unitholders — Diluted : Discontinued operations 76 114 281 156
Net income allocated to common unitholders - Basic 387 157 880 540
Net income allocated to common unitholders - Diluted $ 387 $ 157 $ 880 $ 540
Basic net income per common unit: continuing operations (usd per unit) $ 0.44 $ 0.06 $ 0.85 $ 0.55
Diluted net income per common unit: continuing operations (usd per unit) 0.44 0.06 0.85 0.55
Basic net income per common unit: discontinuing operations (usd per unit) 0.11 0.16 0.40 0.22
Diluted net income per common unit: discontinuing operations (usd per unit) $ 0.11 $ 0.16 $ 0.40 $ 0.22
Common Units        
NET INCOME PER COMMON UNIT (NOTE 4):        
Basic weighted average common units outstanding (units) 704 702 704 702
Diluted weighted average common units outstanding (units) 704 702 704 702
Basic net income per common unit (usd per unit) $ 0.55 $ 0.22 $ 1.25 $ 0.77
Diluted net income per common unit (usd per unit) $ 0.55 $ 0.22 $ 1.25 $ 0.77
Product sales revenues        
REVENUES        
Total revenues $ 11,150 $ 12,021 $ 32,389 $ 35,606
Services revenues        
REVENUES        
Total revenues $ 428 $ 435 $ 1,309 $ 1,248