Company: PAGP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001581990-25-000028
Chunk: 22

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 partner. Our general partner manages our operations and activities and is responsible for exercising on our behalf any rights we have as the sole and managing member of GP LLC, including responsibility for conducting the business and managing the operations of AAP and PAA. GP LLC employs our domestic officers and personnel involved in the operation and management of AAP and PAA. PAA’s Canadian officers and personnel are employed by our subsidiary, Plains Midstream Canada ULC.References to the “Plains Entities” include us, our general partner, GP LLC, AAP, PAA GP and PAA and its subsidiaries. 

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Table of ContentsPLAINS GP HOLDINGS, L.P. AND SUBSIDIARIESNOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Definitions Additional defined terms may be used in this Form 10-Q and shall have the meanings indicated below:AOCI=Accumulated other comprehensive income/(loss)ASC=Accounting Standards CodificationASU=Accounting Standards UpdateBcf=Billion cubic feetBtu=British thermal unitCAD=Canadian dollarCODM=Chief Operating Decision MakerEBITDA=Earnings before interest, taxes, depreciation and amortizationEPA=United States Environmental Protection AgencyFASB=Financial Accounting Standards BoardGAAP=Generally accepted accounting principles in the United StatesICE=Intercontinental ExchangeISDA=International Swaps and Derivatives AssociationLTIP=Long-term incentive planMcf=Thousand cubic feetMMbls=Million barrelsNGL=Natural gas liquids, including ethane, propane and butaneNYMEX=New York Mercantile ExchangeOECD=Organisation for Economic Co-operation and DevelopmentSEC=United States Securities and Exchange CommissionSOFR=Secured Overnight Financing RateTWh=Terawatt hourUSD=United States dollarWTI=West Texas IntermediateBasis of Consolidation and Presentation The accompanying unaudited condensed consolidated interim financial statements and related notes thereto should be read in conjunction with our 2024 Annual Report on Form 10-K. The accompanying condensed consolidated financial statements include the accounts of PAGP and all of its wholly owned subsidiaries and those entities that it controls. Investments in entities over which we have significant influence but not control are accounted for by the equity method. We apply proportionate consolidation for pipelines and other assets in which we own undivided joint interests. The financial statements have been prepared in accordance with the instructions for interim reporting as set forth by the SEC. The condensed consolidated balance