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)
| 12/31/2023 | 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 investments | 401 | 449 | 22 | 45 | 66 | 37 | |||
| Cash and cash equivalents | 401 | 449 | 22 | 45 | 66 | 37 | |||
| Restricted cash and investments | 4 | 38 | 37 | ||||||
| Receivables | 3,907 | 4,705 | 2,553 | 3,614 | 2,454 | 3,029 | |||
| Inventory, net of allowances, customer advances and progress billings | 729 | 783 | 647 | 604 | 640 | 713 | |||
| Inventory | 729 | 783 | 647 | 604 | 640 | 713 | |||
| Other current assets | 318 | 196 | 405 | 312 | 373 | 221 | |||
| Total current assets: | 5,355 | 6,137 | 3,665 | 4,612 | 3,533 | 4,000 | |||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 284 | 253 | 130 | 182 | 136 | 164 | |||
| Finance lease, right-of-use asset, after accumulated amortization | 83 | 99 | 114 | ✕ | ✕ | ||||
| Operating lease, right-of-use asset | 349 | 393 | 378 | 466 | ✕ | ✕ | |||
| Property, plant and equipment | 14,611 | 15,355 | 14,787 | 14,089 | |||||
| Long-term investments and receivables | 3,084 | 3,805 | 3,764 | 3,683 | 2,702 | 2,756 | |||
| Long-term investments | 3,084 | 3,805 | 3,764 | 3,683 | 2,702 | 2,756 | |||
| Intangible assets, net (including goodwill) | 2,145 | 1,960 | 2,540 | 3,293 | 3,410 | ||||
| Goodwill | 2,540 | 2,521 | 2,566 | ||||||
| Intangible assets, net (excluding goodwill) | 2,145 | 1,960 | 772 | 844 | |||||
| Other noncurrent assets | 464 | 251 | 967 | 858 | 916 | 904 | |||
| Other undisclosed noncurrent assets | 16,128 | 15,711 | 868 | 981 | 144 | 28 | |||
| Total noncurrent assets: | 22,537 | 22,472 | 20,832 | 24,065 | 21,978 | 21,351 | |||
| TOTAL ASSETS: | 27,892 | 28,609 | 24,497 | 28,677 | 25,511 | 25,351 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 4,044 | 4,810 | 2,437 | 3,686 | 2,704 | 3,457 | |||
| Accounts payable | 4,044 | 4,810 | 2,437 | 3,686 | 2,704 | ||||
| Other undisclosed accounts payable and accrued liabilities | 3,457 | ||||||||
| Debt | 1,159 | 822 | 831 | 504 | 66 | 737 | |||
| Other liabilities | 688 | 600 | 985 | 827 | 686 | 337 | |||
| Total current liabilities: | 5,891 | 6,232 | 4,253 | 5,017 | 3,456 | 4,531 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 7,287 | 8,398 | 9,382 | 9,187 | 9,143 | 9,183 | |||
| Long-term debt, excluding current maturities | 7,287 | 8,398 | 9,382 | 9,187 | 9,143 | 9,183 | |||
| Finance lease, liability | 50 | 59 | 70 | ✕ | ✕ | ||||
| Other undisclosed long-term debt and lease obligation | (50) | (398) | (387) | (387) | |||||
| Liabilities, other than long-term debt, including: | 1,389 | 830 | 807 | 891 | 910 | 679 | |||
| Other liabilities | 1,081 | 830 | 807 | ||||||
| Operating lease, liability | 308 | 339 | 317 | 387 | ✕ | ✕ | |||
| Other undisclosed liabilities, other than long-term debt | 891 | 910 | 679 | ||||||
| Other undisclosed noncurrent liabilities | 339 | 317 | 387 | ||||||
| Total noncurrent liabilities: | 8,676 | 9,567 | 10,506 | 10,465 | 10,053 | 9,862 | |||
| Total liabilities: | 14,567 | 15,799 | 14,759 | 15,482 | 13,509 | 14,393 | |||
| Equity | |||||||||
| Equity, attributable to parent | (223) | ||||||||
| Accumulated other comprehensive loss | (223) | ||||||||
| Total equity: | (223) | ||||||||
| Other undisclosed liabilities and equity | 13,325 | 12,810 | 9,738 | 13,195 | 12,002 | 11,181 | |||
| TOTAL LIABILITIES AND EQUITY: | 27,892 | 28,609 | 24,497 | 28,677 | 25,511 | 25,351 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 57,342 | 42,078 | 23,290 | 33,669 | 34,055 | 26,223 | ||
| 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: | 2,932 | 2,208 | (1,028) | 3,588 | 3,856 | 2,612 | ||
| Operating expenses | (1,640) | (1,357) | (1,347) | (1,600) | (1,579) | (1,459) | ||
| Operating income (loss): | 1,292 | 851 | (2,375) | 1,988 | 2,277 | 1,153 | ||
| Nonoperating income (expense) | (219) | 19 | 39 | 24 | 193 | (31) | ||
| Investment income, nonoperating | 200 | |||||||
| Other nonoperating income (expense) | (219) | 19 | 39 | 24 | (7) | (31) | ||
| Interest and debt expense | (405) | (425) | (436) | (425) | (431) | (510) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 668 | 445 | (2,772) | 1,587 | 2,039 | 612 | ||
| Income from equity method investments | 403 | 274 | 355 | 388 | 375 | 290 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 346 | 2 | (182) | 271 | ||||
| Income (loss) from continuing operations before income taxes: | 1,417 | 721 | (2,599) | 2,246 | 2,414 | 902 | ||
| Income tax expense (benefit) | (189) | (73) | 19 | (66) | (198) | (44) | ||
| Income (loss) from continuing operations: | 1,228 | 648 | (2,580) | 2,180 | 2,216 | 858 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 648 | (2,580) | 2,180 | 2,216 | 858 | |
| Net income (loss): | 1,228 | 648 | (2,580) | 2,180 | 2,216 | 858 | ||
| Net loss attributable to noncontrolling interest | (191) | (55) | (10) | (9) | (2) | |||
| Net income (loss) available to common stockholders, diluted: | 1,037 | 593 | (2,590) | 2,171 | 2,216 | 856 | ||
Comprehensive Income ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 1,228 | 648 | (2,580) | 2,180 | 2,216 | 858 | ||
| Other comprehensive income (loss) | (101) | 65 | 15 | 97 | (260) | 239 | ||
| Comprehensive income (loss): | 1,127 | 713 | (2,565) | 2,277 | 1,956 | 1,097 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (191) | (55) | (10) | (9) | (2) | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 936 | 658 | (2,575) | 2,268 | 1,956 | 1,095 | ||
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.