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Partners' Capital and Distributions (Tables)

6 Months Ended

Jun. 30, 2022

Partners' Capital and Distributions

Schedule of activity for Class A shares, Class B shares and Class C shares

The following tables present the activity for our Class A shares, Class B shares and Class C shares:

			Class A Shares						Class B Shares						Class C Shares
Outstanding at December 31, 2021			194,192,777						46,645,514						534,596,831
Conversion of AAP Management Units (1)			—						205,024						—
Exchange Right exercises (1)			35,700						(35,700)						—
Redemption Right exercises (1)			—						(11,957)						11,957
Repurchase of common units by a subsidiary under the Common Equity Repurchase Program			—						—						(2,375,299)
Other			—						—						51,937
Outstanding at March 31, 2022			194,228,477						46,802,881						532,285,426
Conversion of AAP Management Units (1)			—						53,023						—
Repurchase of common units by a subsidiary under Common Equity Repurchase Program			—						—						(4,876,062)
Other			—						—						147,830
Outstanding at June 30, 2022			194,228,477						46,855,904						527,557,194

 

			Class A Shares						Class B Shares						Class C Shares
Outstanding at December 31, 2020			194,051,436						50,640,192						547,717,762
Conversion of AAP Management Units (1)			—						414,608						—
Exchange Right exercises (1)			46,879						(46,879)						—
Redemption Right exercises (1)			—						(229,931)						229,931
Repurchase of common units by a subsidiary under the Common Equity Repurchase Program			—						—						(350,000)
Other			—						—						25,431
Outstanding at March 31, 2021			194,098,315						50,777,990						547,623,124
Exchange Right exercises (1)			25,554						(25,554)						—
Redemption Right exercises (1)			—						(535,009)						535,009
Repurchase of common units by a subsidiary under Common Equity Repurchase Program			—						—						(4,940,592)
Other			—						—						256,321
Outstanding at June 30, 2021			194,123,869						50,217,427						543,473,862

(1)See Note 12 to our Consolidated Financial Statements included in Part IV of our 2021 Annual Report on Form 10-K for information regarding conversions of AAP Management Units, Exchange Rights and Redemption Rights.

AAP

Partners' Capital and Distributions

Schedule of distributions

The following table details the distributions to AAP’s partners paid during or pertaining to the first six months of 2022 from distributions received from PAA (in millions):

						Distributions to AAP’s Partners
Distribution Payment Date						Noncontrolling Interests						PAGP						Total Cash Distribution
August 12, 2022 (1)						$	11					$	42					$	53
May 13, 2022						$	11					$	42					$	53
February 14, 2022						$	8					$	35					$	43

(1)Payable to unitholders of record at the close of business on July 29, 2022 for the period from April 1, 2022 through June 30, 2022.

Class A Shares

Partners' Capital and Distributions

Schedule of distributions

The following table details distributions to our Class A shareholders paid during or pertaining to the first six months of 2022 (in millions, except per share data):

Distribution Payment Date						Distributions to Class A Shareholders						Distributions per Class A Share
August 12, 2022 (1)						$	42					$	0.2175
May 13, 2022						$	42					$	0.2175
February 14, 2022						$	35					$	0.1800

(1)Payable to shareholders of record at the close of business on July 29, 2022 for the period from April 1, 2022 through June 30, 2022.

Series A Preferred Units | PAA

Partners' Capital and Distributions

Schedule of distributions

The following table details distributions to PAA’s Series A preferred unitholders paid during or pertaining to the first six months of 2022 (in millions, except per unit data):

						Series A Preferred Unitholders
Distribution Payment Date						Cash Distribution									Distribution per Unit
August 12, 2022 (1)						$	37								$	0.525
May 13, 2022						$	37								$	0.525
February 14, 2022						$	37								$	0.525

(1)Payable to unitholders of record at the close of business on July 29, 2022 for the period from April 1, 2022 through June 30, 2022. At June 30, 2022, such amount was accrued as distributions payable in “Other current liabilities” on our Condensed Consolidated Balance Sheet.

Series B Preferred Units | PAA

Partners' Capital and Distributions

Schedule of distributions

The following table details distributions paid to PAA’s Series B preferred unitholders (in millions, except per unit data):

						Series B Preferred Unitholders
Distribution Payment Date						Cash Distribution									Distribution per Unit
May 16, 2022						$	24.5								$	30.625

Common Units | PAA

Partners' Capital and Distributions

Schedule of distributions

The following table details distributions to PAA’s common unitholders paid during or pertaining to the first six months of 2022 (in millions, except per unit data):

						Distributions																					Cash Distribution per Common Unit
						Common Unitholders												Total Cash Distribution
Distribution Payment Date						Public						AAP
August 12, 2022 (1)						$	99					$	53					$	152								$	0.2175
May 13, 2022						$	100					$	53					$	153								$	0.2175
February 14, 2022						$	84					$	43					$	127								$	0.1800

(1)Payable to unitholders of record at the close of business on July 29, 2022 for the period from April 1, 2022 through June 30, 2022.

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