Company: PAGP
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001581990-25-000013
Chunk: 35

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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January 31, 2025December 31, 2024$179 $88 $267 $0.38 (1)Payable to unitholders of record at the close of business on the applicable Record Date.

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

AAP Distributions. The following table details the distributions to AAP’s partners paid during or pertaining to the first three months of 2025 from distributions received from PAA (in millions): Distributions to AAP’s PartnersDistribution Payment DateRecord Date (1)Quarter EndedNoncontrolling InterestsPAGPTotal Cash DistributionMay 15, 2025May 1, 2025March 31, 2025$13 $75 $88 February 14, 2025January 31, 2025December 31, 2024$13 $75 $88 (1)Payable to unitholders of record at the close of business on the applicable Record Date.Consolidated Joint Venture Distributions. The following table details distributions paid to noncontrolling interests in consolidated joint ventures during the periods presented (in millions):Three Months EndedMarch 31,20252024Permian JV$105 $74 Cactus II22 20 Red River5 6 $132 $100 

Note 7—Derivatives and Risk Management Activities 

 We identify the risks that underlie our core business activities and use risk management strategies to mitigate those risks when we determine that there is value in doing so. We use various derivative instruments to manage our exposure to commodity price risk and interest rate risk. Our commodity price risk management policies and procedures are designed to help ensure that our hedging activities address our risks by monitoring our derivative positions, as well as physical volumes, grades, locations, delivery schedules and storage capacity. Our interest rate risk management policies and procedures are designed to monitor our derivative positions and ensure that those positions are consistent with our objectives and approved strategies. Our policy is to use derivative instruments for risk management purposes and not for the purpose of speculating on changes in commodity prices or interest rates. When we apply hedge accounting, our policy is to formally document all relationships between hedging instruments and hedged items, as well as our risk management objectives for undertaking the hedge. This process includes specific identification of the hed