Plains All American Pipeline, L.P. (PAA) Financial Statements (2024 and earlier)

Company Profile

Business Address 333 CLAY STREET
HOUSTON, TX 77002
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 461 - Pipelines, Except Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments40144922456637
Cash and cash equivalents40144922456637
Restricted cash and investments  43837  
Receivables3,9074,7052,5533,6142,4543,029
Inventory, net of allowances, customer advances and progress billings729783647604640713
Inventory729783647604640713
Other current assets318196405312373221
Total current assets:5,3556,1373,6654,6123,5334,000
Noncurrent Assets
Inventory, Noncurrent284253130182136164
Finance lease, right-of-use asset, after accumulated amortization 8399114 
Operating lease, right-of-use asset349393378466
Property, plant and equipment   14,61115,35514,78714,089
Long-term investments and receivables3,0843,8053,7643,6832,7022,756
Long-term investments3,0843,8053,7643,6832,7022,756
Intangible assets, net (including goodwill)2,1451,960 2,5403,2933,410
Goodwill    2,5402,5212,566
Intangible assets, net (excluding goodwill)2,1451,960  772844
Other noncurrent assets464251967858916904
Other undisclosed noncurrent assets16,12815,71186898114428
Total noncurrent assets:22,53722,47220,83224,06521,97821,351
TOTAL ASSETS:27,89228,60924,49728,67725,51125,351
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4,0444,8102,4373,6862,7043,457
Accounts payable4,0444,8102,4373,6862,704 
Other undisclosed accounts payable and accrued liabilities      3,457
Debt1,15982283150466737
Other liabilities688600985827686337
Total current liabilities:5,8916,2324,2535,0173,4564,531
Noncurrent Liabilities
Long-term debt and lease obligation, including:7,2878,3989,3829,1879,1439,183
Long-term debt, excluding current maturities7,2878,3989,3829,1879,1439,183
Finance lease, liability 505970 
Other undisclosed long-term debt and lease obligation (50)(398)(387)(387)  
Liabilities, other than long-term debt, including:1,389830807891910679
Other liabilities1,081830807   
Operating lease, liability308339317387
Other undisclosed liabilities, other than long-term debt    891910679
Other undisclosed noncurrent liabilities  339317387  
Total noncurrent liabilities:8,6769,56710,50610,46510,0539,862
Total liabilities:14,56715,79914,75915,48213,50914,393
Equity
Equity, attributable to parent      (223)
Accumulated other comprehensive loss      (223)
Total equity:      (223)
Other undisclosed liabilities and equity13,32512,8109,73813,19512,00211,181
TOTAL LIABILITIES AND EQUITY:27,89228,60924,49728,67725,51125,351

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues57,34242,07823,29033,66934,05526,223
Cost of revenue(54,410)(39,870)(24,318)(30,081)(30,199)(23,611)
Cost of goods and services sold(53,176)(38,504)(20,431)(29,452)(29,793)(22,985)
Gross profit:2,9322,208(1,028)3,5883,8562,612
Operating expenses(1,640)(1,357)(1,347)(1,600)(1,579)(1,459)
Operating income (loss):1,292851(2,375)1,9882,2771,153
Nonoperating income (expense)(219)193924193(31)
Investment income, nonoperating     200 
Other nonoperating income (expense)(219)193924(7)(31)
Interest and debt expense(405)(425)(436)(425)(431)(510)
Income (loss) from continuing operations before equity method investments, income taxes:668445(2,772)1,5872,039612
Income from equity method investments403274355388375290
Other undisclosed income (loss) from continuing operations before income taxes3462(182)271  
Income (loss) from continuing operations before income taxes:1,417721(2,599)2,2462,414902
Income tax expense (benefit)(189)(73)19(66)(198)(44)
Income (loss) from continuing operations:1,228648(2,580)2,1802,216858
Income (loss) before gain (loss) on sale of properties:648(2,580)2,1802,216858
Net income (loss):1,228648(2,580)2,1802,216858
Net loss attributable to noncontrolling interest(191)(55)(10)(9) (2)
Net income (loss) available to common stockholders, diluted:1,037593(2,590)2,1712,216856

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):1,228648(2,580)2,1802,216858
Other comprehensive income (loss)(101)651597(260)239
Comprehensive income (loss):1,127713(2,565)2,2771,9561,097
Comprehensive loss, net of tax, attributable to noncontrolling interest(191)(55)(10)(9) (2)
Comprehensive income (loss), net of tax, attributable to parent:936658(2,575)2,2681,9561,095

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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