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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,070 $ 1,425 $ 1,163
Reconciliation of net income to net cash provided by operating activities:      
Depreciation and amortization 1,026 1,051 968
(Gains)/losses on asset sales, asset impairments and other, net (Note 6, Note 7) 160 (152) 269
Equity-indexed compensation expense 52 51 41
Deferred income tax expense 9 44 162
Gains on sales of linefill   (2) (35)
(Gain)/loss on foreign currency revaluation (17) 8 41
Settlement of terminated interest rate hedging instruments (Note 12) 57 80 42
Change in fair value of Preferred Distribution Rate Reset Option (Note 12)   58 (189)
Equity earnings in unconsolidated entities (452) (369) (403)
Distributions on earnings from unconsolidated entities 505 458 488
Gain on investments in unconsolidated entities, net (Note 7, Note 8) (15) (28) (346)
Other 17 20 16
Changes in assets and liabilities, net of acquisitions:      
Trade accounts receivable and other 112 213 649
Inventory 70 223 (10)
Trade accounts payable and other (110) (242) (830)
Net cash provided by operating activities 2,484 2,722 2,404
CASH FLOWS FROM INVESTING ACTIVITIES      
Cash paid in connection with acquisitions, net of cash acquired (Note 7) (248) (425) (149)
Investments in unconsolidated entities (Note 8) (4) (33) (14)
Additions to property, equipment and other (619) (559) (455)
Cash paid for purchases of linefill (21) (23) (84)
Proceeds from sales of assets (Note 7) 13 328 60
Cash received from sales of linefill   9 72
Other investing activities 4 1 44
Net cash used in investing activities (875) (702) (526)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net borrowings/(repayments) under PAA commercial paper program (Note 10) (40) 433  
Proceeds from the issuance of PAA senior notes (Note 10) 650    
Repayments of PAA senior notes (Note 10) (750) (1,100) (750)
Repurchase of common units by a subsidiary (Note 11)     (74)
Distributions paid to Class A shareholders (Note 11) (251) (209) (162)
Distributions paid to noncontrolling interests (Note 11) (1,319) (1,113) (918)
Contributions from noncontrolling interests 57 106 26
Other financing activities (49) (88) (49)
Net cash used in financing activities (1,702) (1,971) (1,927)
Effect of translation adjustment (11)   (3)
Net increase/(decrease) in cash and cash equivalents and restricted cash (104) 49 (52)
Cash and cash equivalents and restricted cash, beginning of period 453 404 456
Cash and cash equivalents and restricted cash, end of period 349 453 404
Cash paid for:      
Interest, net of amounts capitalized 351 377 393
Income taxes, net of amounts refunded $ 269 $ 69 $ 112