XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Total revenues $ 8,253 $ 8,080 $ 16,628 $ 16,478
COSTS AND EXPENSES        
Purchases and related costs 7,244 7,551 14,362 15,070
Field operating costs 340 312 667 605
General and administrative expenses 75 80 151 159
Depreciation and amortization 147 130 283 256
(Gains)/losses on asset sales and asset impairments, net (4) (81)   (81)
Total costs and expenses 7,802 7,992 15,463 16,009
OPERATING INCOME 451 88 1,165 469
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 83 96 172 171
Gain on investment in unconsolidated entities (Note 7)     267  
Interest expense (net of capitalized interest of $11, $7, $22 and $13, respectively) (103) (111) (203) (217)
Other income/(expense), net (6) 11 18 10
INCOME BEFORE TAX 425 84 1,419 433
Current income tax expense (24) (7) (53) (20)
Deferred income tax (expense)/benefit 47 23 52 (25)
NET INCOME 448 100 1,418 388
Net income attributable to noncontrolling interests (2)   (2)  
NET INCOME ATTRIBUTABLE TO PAA 446 100 1,416 388
NET INCOME PER COMMON UNIT (NOTE 4):        
Net income allocated to common unitholders — Basic 395 50 1,311 286
Net income allocated to common unitholders — Diluted $ 433 $ 50 $ 1,389 $ 286
Common Units        
NET INCOME PER COMMON UNIT (NOTE 4):        
Basic weighted average common units outstanding (units) 727 725 727 725
Basic net income per common unit (usd per unit) $ 0.54 $ 0.07 $ 1.80 $ 0.39
Diluted weighted average common units outstanding (units) 800 727 800 727
Diluted net income per common unit (usd per unit) $ 0.54 $ 0.07 $ 1.74 $ 0.39
Supply and Logistics        
REVENUES        
Total revenues $ 7,914 $ 7,781 $ 15,936 $ 15,892
Transportation        
REVENUES        
Total revenues 188 152 385 298
OTHER INCOME/(EXPENSE)        
Equity earnings in unconsolidated entities 83 96 172 171
Facilities        
REVENUES        
Total revenues $ 151 $ 147 $ 307 $ 288