Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 192

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 192
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 to the Line 901 incident that occurred in May 2015, net of amounts we believe are probable of recovery from insurance (as applicable). The year ended December 31, 2024 includes the write-off of a receivable for Line 901 insurance proceeds in the fourth quarter of 2024 and the impact of settlements in the third quarter of 2024. See Note 18 for additional information regarding the Line 901 incident.(10)Reflects amounts attributable to noncontrolling interests in the Permian JV, Cactus II (beginning November 2022) and Red River.(11)Investment capital and acquisition capital expenditures, including investments in unconsolidated entities.(12)These amounts combined represent total capital expenditures.(13)Includes expenses associated with the Rattler Permian Transaction in 2023. See Note 7 for additional discussion. An adjustment for these non-recurring expenses is included in the calculation of Segment Adjusted EBITDA for the year ended December 31, 2023 as our CODM does not view such expenses as integral to understanding our core segment operating performance.

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

Segment Adjusted EBITDA ReconciliationThe following table reconciles Segment Adjusted EBITDA to Net income attributable to PAGP (in millions):Year Ended December 31,202420232022Segment Adjusted EBITDA$2,756 $2,685 $2,504 Total other segment items (1)60 90 425 Unallocated general and administrative expenses (2)(6)(6)(5)Depreciation and amortization(1,026)(1,051)(968)Gains/(losses) on asset sales, asset impairments and other, net(160)152 (269)Gain on investments in unconsolidated entities, net15 28 346 Interest expense, net(382)(386)(405)Other income/(expense), net17 102 (219)Income before tax1,274 1,614 1,409 Income tax expense(204)(189)(246)Net income1,070 1,425 1,163 Net income attributable to noncontrolling interests(967)(1,227)(995)Net income attributable to PAGP$103 $198 $168