XML 36 R13.htm IDEA: XBRL DOCUMENT
v3.20.4

Net Income/(Loss) Per Class A Share | 12 Months Ended
--- | ---
Dec. 31, 2020
Earnings Per Share [Abstract] |
Net Income/(Loss) Per Class A Share | Net Income/(Loss) Per Class A ShareBasic net income/(loss) per Class A share is determined by dividing net income/(loss) attributable to PAGP by the weighted average number of Class A shares outstanding during the period. Our Class B and Class C shares do not share in the earnings of the Partnership; accordingly, basic and diluted net income/(loss) per Class B and Class C share has not been presented. Diluted net income/(loss) per Class A share is determined by dividing net income/(loss) attributable to PAGP by the diluted weighted average number of Class A shares outstanding during the period. For purposes of calculating diluted net income/(loss) per Class A share, both the net income/(loss) attributable to PAGP and the diluted weighted average number of Class A shares outstanding consider the impact of possible future exchanges of (i) AAP units and the associated Class B shares into our Class A shares and (ii) certain Class B units of AAP (referred to herein as “AAP Management Units”) into our Class A shares. In addition, the calculation of the diluted weighted average number of Class A shares outstanding considers the effect of potentially dilutive awards under the Plains GP Holdings, L.P. Long-Term Incentive Plan (the “PAGP LTIP”). All AAP Management Units that have satisfied the applicable performance conditions are considered potentially dilutive. Exchanges of potentially dilutive AAP units and AAP Management Units are assumed to have occurred at the beginning of the period and the incremental income attributable to PAGP resulting from the assumed exchanges is representative of the incremental income that would have been attributable to PAGP if the assumed exchanges occurred on that date. See Note 12 for information regarding exchanges of AAP units and AAP Management Units. PAGP LTIP awards that are deemed to be dilutive are reduced by a hypothetical share repurchase based on the remaining unamortized fair value, as prescribed by the treasury stock method in guidance issued by the FASB. See Note 18 for information regarding PAGP LTIP awards. On a weighted-average basis, for the year ended December 31, 2019, the possible exchange of 99 million AAP units would not have had a dilutive effect on basic net income/(loss) per Class A share. For the year ended December 31, 2020, the possible exchange of 1 million AAP Management Units would not have had a dilutive effect on basic net income/(loss) per Class A share on a weighted-average basis. For the year ended December 31, 2020, our PAGP LTIP awards were antidilutive. For the years ended December 31, 2019 and 2018 our PAGP LTIP awards were dilutive; however, there were less than 0.1 million dilutive LTIP awards for each period, which did not change the presentation of weighted average Class A shares outstanding or net income/(loss) per Class A share. The following table sets forth the computation of basic and diluted net income/(loss) per Class A share (in millions, except per share data):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Basic Net Income/(Loss) per Class A Share |  |  |  |  |
Net income/(loss) attributable to PAGP | $ | (568) |  |  | $ | 331 |  |  | $ | 334 |
Basic weighted average Class A shares outstanding | 186 |  |  | 168 |  |  | 158 |
Basic net income/(loss) per Class A share | $ | (3.06) |  |  | $ | 1.97 |  |  | $ | 2.12 |
Diluted Net Income/(Loss) per Class A Share |  |  |  |  |
Net income/(loss) attributable to PAGP | $ | (568) |  |  | $ | 331 |  |  | $ | 334 |
Incremental net income/(loss) attributable to PAGP resulting from assumed exchange of AAP units and AAP Management Units | (189) |  |  | 2 |  |  | 262 |
Net income/(loss) attributable to PAGP including incremental net income/(loss) from assumed exchange of AAP units and AAP Management Units | $ | (757) |  |  | $ | 333 |  |  | $ | 596 |
Basic weighted average Class A shares outstanding | 186 |  |  | 168 |  |  | 158 |
Dilutive shares resulting from assumed exchange of AAP units and AAP Management Units | 60 |  |  | 2 |  |  | 124 |
Diluted weighted average Class A shares outstanding | 246 |  |  | 170 |  |  | 282 |
Diluted net income/(loss) per Class A share | $ | (3.07) |  |  | $ | 1.96 |  |  | $ | 2.11 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration