Plains All American Pipeline, L.P. (PAA) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments449224566374727
Cash and cash equivalents449224566374727
Restricted cash and investments43837    
Receivables4,7052,5533,6142,4543,0292,2791,785
Inventory, net of allowances, customer advances and progress billings7836476046407131,343916
Inventory7836476046407131,343916
Other current assets196405312373221603241
Total current assets:6,1373,6654,6123,5334,0004,2722,969
Noncurrent Assets
Inventory, Noncurrent253130182136164193129
Finance lease, right-of-use asset99114 
Operating lease, right-of-use asset393378466
Property, plant and equipment 14,61115,35514,78714,08913,87213,474
Long-term investments and receivables3,8053,7643,6832,7022,7562,3432,027
Long-term investments3,8053,7643,6832,7022,7562,3432,027
Intangible assets, net (including goodwill)1,960 2,5403,2933,4102,5862,688
Goodwill  2,5402,5212,5662,3442,405
Intangible assets, net (excluding goodwill)1,960  772844242283
Derivative instruments and hedges      9
Other noncurrent assets251967858916904290386
Other undisclosed noncurrent assets15,71186898114428654606
Total noncurrent assets:22,47220,83224,06521,97821,35119,93819,319
TOTAL ASSETS:28,60924,49728,67725,51125,35124,21022,288
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4,8102,4373,6862,7043,4572,5882,038
Accounts payable4,8102,4373,6862,704   
Other undisclosed accounts payable and accrued liabilities    3,4572,5882,038
Debt822831504667371,715999
Other liabilities600985827686337361370
Total current liabilities:6,2324,2535,0173,4564,5314,6643,407
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,3989,3829,1879,1439,18310,12410,375
Long-term debt, excluding current maturities8,3989,3829,1879,1439,18310,12410,375
Finance lease, liability5970 
Operating lease, liability339317387
Other undisclosed long-term debt and lease obligation(398)(387)(387)    
Liabilities, other than long-term debt, including:830807891910679606567
Accrued environmental loss contingencies     86104
Other liabilities830807     
Other undisclosed liabilities, other than long-term debt  891910679520463
Other undisclosed noncurrent liabilities339317387    
Total noncurrent liabilities:9,56710,50610,46510,0539,86210,73010,942
Total liabilities:15,79914,75915,48213,50914,39315,39414,349
Stockholders' equity
Stockholders' equity attributable to parent    (223)(1,009)(1,081)
Accumulated other comprehensive loss    (223)(1,009)(1,081)
Total stockholders' equity:    (223)(1,009)(1,081)
Other undisclosed liabilities and equity12,8109,73813,19512,00211,1819,8259,020
TOTAL LIABILITIES AND EQUITY:28,60924,49728,67725,51125,35124,21022,288

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues42,07823,29033,66934,05526,22320,18223,152
Cost of revenue(39,870)(24,318)(30,081)(30,199)(23,611)(17,727)(20,158)
Cost of goods and services sold(38,504)(20,431)(29,452)(29,793)(22,985)(17,233)(19,726)
Gross profit:2,208(1,028)3,5883,8562,6122,4552,994
Operating expenses(1,357)(1,347)(1,600)(1,579)(1,459)(1,461)(1,732)
Operating income (loss):851(2,375)1,9882,2771,1539941,262
Nonoperating income (expense)193924193(31)33(7)
Investment income, nonoperating   200   
Other nonoperating income (expense)193924(7)(31)33(7)
Interest and debt expense(425)(436)(425)(431)(510)(467)(432)
Income (loss) from continuing operations before equity method investments, income taxes:445(2,772)1,5872,039612560823
Income from equity method investments274355388375290195183
Other undisclosed income (loss) from continuing operations before income taxes2(182)271    
Income (loss) from continuing operations before income taxes:721(2,599)2,2462,4149027551,006
Income tax expense (benefit)(73)19(66)(198)(44)(25)(100)
Net income (loss):648(2,580)2,1802,216858730906
Net loss attributable to noncontrolling interest(55)(10)(9) (2)(4)(3)
Net income (loss) attributable to parent:593(2,590)2,1712,216856726903
Preferred stock dividends and other adjustments     (534)(608)
Net income (loss) available to common stockholders, diluted:593(2,590)2,1712,216856192295

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):648(2,580)2,1802,216858730906
Other comprehensive income (loss)651597(260)23972(614)
Comprehensive income (loss):713(2,565)2,2771,9561,097802292
Comprehensive loss, net of tax, attributable to noncontrolling interest(55)(10)(9) (2)(4)(3)
Comprehensive income (loss), net of tax, attributable to parent:658(2,575)2,2681,9561,095798289

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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