Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 147

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 147
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ated Balance Sheets. The portion of the basis differences attributable to depreciable or amortizable assets is amortized on a straight-line basis over the estimated useful life of the related assets, which reduces “Equity earnings in unconsolidated entities” on our Consolidated Statements of Operations. The portion of the basis differences attributable to goodwill is not amortized. The majority of the basis difference at both December 31, 2024 and 2023 was attributable to goodwill related to our ownership interest in BridgeTex with the remaining basis difference primarily related to capitalized interest incurred during construction of the assets of our unconsolidated entities.

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

Summarized Financial Information of Unconsolidated Entities Combined summarized financial information for all of our unconsolidated entities is shown in the tables below (in millions). None of our unconsolidated entities have noncontrolling interests.December 31,20242023Current assets$475 $528 Noncurrent assets$6,996 $7,194 Current liabilities$261 $476 Noncurrent liabilities$12 $5 Year Ended December 31,202420232022Revenues$2,193 $1,667 $1,726 Operating income$1,373 $921 $1,004 Net income$1,407 $947 $1,011 

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

Note 9—Intangible Assets, Net 

Intangible assets, net of accumulated amortization, consisted of the following (in millions):December 31, 2024December 31, 2023Estimated UsefulLives (Years)CostAccumulatedAmortizationNetCostAccumulatedAmortizationNetCustomer contracts and relationships1 – 29$2,767 $(1,105)$1,662 $2,789 $(932)$1,857 Other agreements15 – 7028 (13)15 30 (12)18 Intangible assets (1)$2,795 $(1,118)$1,677 $2,819 $(944)$1,875  (