Company: PAGP
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001581990-25-000013
Chunk: 20

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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mentsTotal (unaudited)Balance at December 31, 2024$(44)$(1,039)$(1,083)Reclassification adjustments1 — 1 Unrealized loss on hedges(1)— (1)Currency translation adjustments— 5 5 Total period activity— 5 5 Balance at March 31, 2025$(44)$(1,034)$(1,078)

DerivativeInstrumentsTranslationAdjustmentsTotal (unaudited)Balance at December 31, 2023$(81)$(755)$(836)Reclassification adjustments2 — 2 Unrealized gain on hedges13 — 13 Currency translation adjustments— (86)(86)Total period activity15 (86)(71)Balance at March 31, 2024$(66)$(841)$(907)

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

PLAINS GP HOLDINGS, L.P. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

 Three Months EndedMarch 31, 20252024 (unaudited)CASH FLOWS FROM OPERATING ACTIVITIES  Net income$492 $336 Reconciliation of net income to net cash provided by operating activities:  Depreciation and amortization262 254 Gain on asset sales, net(13)— Deferred income tax expense/(benefit)27 (25)Equity earnings in unconsolidated entities(103)(95)Distributions on earnings from unconsolidated entities125 132 Gain on investments in unconsolidated entities, net (Note 11)(31)— Other19 8 Changes in assets and liabilities, net of acquisitions(140)(192)Net cash provided by operating activities638 418 CASH FLOWS FROM INVESTING ACTIVITIES  Cash paid in connection with acquisitions, net of cash acquired(624)(91)Investments in unconsolidated entities— (3)Additions to property, equipment and other(191)(157)Cash paid for purchases of linefill(7)(13)Proceeds from sales of assets3 3 Net cash used in investing activities(819)(261)CASH FLOWS FROM FINANCING ACTIVITIES  Net borrowings under PAA commercial paper program (Note