Plains All American Pipeline, L.P. (PAA) financial statements (2021 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments224566374727403
Cash and cash equivalents224566374727403
Restricted cash and investments3837     
Receivables2,5533,6142,4543,0292,2791,7852,615
Inventory, net of allowances, customer advances and progress billings6476046407131,343916891
Inventory6476046407131,343916891
Other current assets405312373221603241270
Total current assets:3,6654,6123,5334,0004,2722,9694,179
Noncurrent Assets
Inventory, Noncurrent130182136164193129186
Finance lease, right-of-use asset114 
Operating lease, right-of-use asset378466
Property, plant and equipment14,61115,35514,78714,08913,87213,47412,272
Long-term investments and receivables3,7643,6832,7022,7562,3432,0271,735
Long-term investments3,7643,6832,7022,7562,3432,0271,735
Intangible assets, net (including goodwill) 2,5403,2933,4102,5862,6882,831
Goodwill 2,5402,5212,5662,3442,4052,465
Intangible assets, net (excluding goodwill)  772844242283366
Derivative instruments and hedges     927
Deferred costs      92
Other noncurrent assets967858916904290386489
Other undisclosed noncurrent assets86898114428654606445
Total noncurrent assets:20,83224,06521,97821,35119,93819,31918,077
TOTAL ASSETS:24,49728,67725,51125,35124,21022,28822,256
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:2,4373,6862,7043,4572,5882,0382,986
Accounts payable2,4373,6862,704    
Other undisclosed accounts payable and accrued liabilities   3,4572,5882,0382,986
Debt831504667371,7159991,287
Accrued environmental loss contingencies      13
Customer advances and deposits   180
Other liabilities985827686337361370482
Other undisclosed current liabilities      (193)
Total current liabilities:4,2535,0173,4564,5314,6643,4074,755
Noncurrent Liabilities
Long-term debt and lease obligation, including:9,3829,1879,1439,18310,12410,3758,762
Long-term debt, excluding current maturities9,3829,1879,1439,18310,12410,3759,330
Finance lease, liability70 
Operating lease, liability317387
Other undisclosed long-term debt and lease obligation(387)(387)    (568)
Liabilities, other than long-term debt, including:807891910679606567548
Accrued environmental loss contingencies    8610469
Other liabilities807      
Other undisclosed liabilities, other than long-term debt 891910679520463479
Other undisclosed noncurrent liabilities317387     
Total noncurrent liabilities:10,50610,46510,0539,86210,73010,9429,310
Total liabilities:14,75915,48213,50914,39315,39414,34914,065
Stockholders' equity
Stockholders' equity attributable to parent   (223)(1,009)(1,081)(467)
Accumulated other comprehensive loss   (223)(1,009)(1,081)(467)
Total stockholders' equity:   (223)(1,009)(1,081)(467)
Other undisclosed liabilities and equity9,73813,19512,00211,1819,8259,0208,658
TOTAL LIABILITIES AND EQUITY:24,49728,67725,51125,35124,21022,28822,256

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues23,29033,66934,05526,22320,18223,15243,464
Cost of revenue(24,318)(30,081)(30,199)(23,611)(17,727)(20,158)(39,893)
Cost of goods and services sold(20,431)(29,452)(29,793)(22,985)(17,233)(19,726)(289)
Other undisclosed gross profit      (1,280)
Gross profit:(1,028)3,5883,8562,6122,4552,9942,291
Operating expenses(1,347)(1,600)(1,579)(1,459)(1,461)(1,732)(1,780)
Other undisclosed operating income      1,280
Operating income (loss):(2,375)1,9882,2771,1539941,2621,791
Nonoperating income (expense)3924193(31)33(7)(15)
Investment income, nonoperating  200    
Foreign currency transaction loss, before tax      (13)
Other nonoperating income (expense)3924(7)(31)33(7)(2)
Interest and debt expense(436)(425)(431)(510)(467)(432)(342)
Income (loss) from continuing operations before equity method investments, income taxes:(2,772)1,5872,0396125608231,434
Income from equity method investments355388375290195183108
Other undisclosed income (loss) from continuing operations before income taxes(182)271    15
Income (loss) from continuing operations before income taxes:(2,599)2,2462,4149027551,0061,557
Income tax expense (benefit)19(66)(198)(44)(25)(100)(171)
Net income (loss):(2,580)2,1802,2168587309061,386
Net loss attributable to noncontrolling interest(10)(9) (2)(4)(3)(2)
Net income (loss) attributable to parent:(2,590)2,1712,2168567269031,384
Preferred stock dividends and other adjustments    (534)(608)(19)
Net income (loss) available to common stockholders, diluted:(2,590)2,1712,2168561922951,365

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(2,580)2,1802,2168587309061,386
Other comprehensive income (loss)1597(260)23972(614)(370)
Comprehensive income (loss):(2,565)2,2771,9561,0978022921,016
Comprehensive loss, net of tax, attributable to noncontrolling interest(10)(9) (2)(4)(3)(2)
Comprehensive income (loss), net of tax, attributable to parent:(2,575)2,2681,9561,0957982891,014

Statements sources

The financial statements are based on the company's filings with the 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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