Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2013

Acquisitions and Dispositions

Acquisitions and Dispositions

Note 4—Acquisitions and Dispositions

For a full discussion of the acquisitions included in the pro forma results below, see Note 3 to our Consolidated Financial Statements included in Part IV of our 2012 Annual Report on Form 10-K.

Pro Forma Results

Selected unaudited pro forma results of operations for the three months ended March 31, 2012, assuming the BP NGL Acquisition, USD Rail Terminal Acquisition and our other 2012 acquisitions had occurred on January 1, 2012, are presented below (in millions, except per unit amounts):

	Three Months Ended
	March 31, 2012
Total revenues	$	10,064
Net income attributable to Plains	$	230
Limited partner interest in net income attributable to Plains	$	166
Net income per limited partner unit:
Basic	$	0.51
Diluted	$	0.51

Dispositions

In February 2013, we signed a definitive agreement to sell certain refined products pipeline systems and related assets included in our Transportation segment. At March 31, 2013 and December 31, 2012, these assets were classified as held for sale on our condensed consolidated balance sheets (in “Other current assets”). We expect the transaction to close during the second or third quarter of 2013, subject to the satisfaction of customary closing conditions.