Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 135

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 135
---
/AN/A11 N/AInventory subtotal439 548 LinefillCrude oil15,521 barrels906 $58.37 15,409 barrels909 $58.99 NGL2,259 barrels62 $27.45 2,168 barrels67 $30.90 Linefill subtotal968 976 Long-term inventoryCrude oil3,424 barrels239 $69.80 3,256 barrels232 $71.25 NGL1,355 barrels41 $30.26 1,326 barrels33 $24.89 Long-term inventory subtotal280 265 Total$1,687 $1,789 (1)Price per unit of measure is comprised of a weighted average associated with various grades, qualities and locations. Accordingly, these prices may not coincide with any published benchmarks for such products.

F-20

Table of ContentsIndex to Financial StatementsPLAINS GP HOLDINGS, L.P. AND SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 6—Property and Equipment

In accordance with our capitalization policy, expenditures made to expand the existing operating and/or earnings capacity of our assets are capitalized, as are certain costs directly related to the construction of such assets, including related internal labor costs, engineering costs and interest costs. We also capitalize expenditures for the replacement and/or refurbishment of partially or fully depreciated assets in order to maintain the operating and/or earnings capacity of our existing assets. Repair and maintenance expenditures incurred in order to maintain the day to day operation of our existing assets are expensed as incurred.Property and equipment, net is stated at cost and consisted of the following (in millions):Estimated UsefulLives (Years)December 31,20242023Crude oil pipeline systems10 - 50$14,621 $14,265 Crude oil storage and terminal facilities10 - 502,679 2,664 NGL storage, terminal, fractionation and processing facilities10 - 502,412 2,554 NGL pipeline systems10 - 50491 506 Office property and equipment and rolling stock2 - 50464 556 Construction in progressN/A297 257 Land and otherN/A336 341 Property and equipment, gross (1)21,300 21,143 Accumulated depreciation(5,876