Company: PAGP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001581990-25-000021
Chunk: 18

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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Item 1.    UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

PLAINS GP HOLDINGS, L.P. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions, except share data)

June 30,2025December 31,2024 (unaudited)ASSETS CURRENT ASSETS  Cash and cash equivalents$460 $349 Trade accounts receivable and other receivables, net3,562 3,679 Inventory151 261 Current assets of discontinued operations (Note 2)385 415 Other current assets100 72 Total current assets4,658 4,776 PROPERTY AND EQUIPMENT19,589 18,528 Accumulated depreciation(5,412)(5,082)Property and equipment, net14,177 13,446 OTHER ASSETS  Investments in unconsolidated entities2,709 2,811 Intangible assets, net1,636 1,677 Deferred tax asset1,175 1,220 Linefill940 904 Long-term operating lease right-of-use assets, net182 189 Long-term inventory234 242 Long-term assets of discontinued operations (Note 2)2,482 2,349 Other long-term assets, net107 142 Total assets$28,300 $27,756 LIABILITIES AND PARTNERS’ CAPITAL  CURRENT LIABILITIES  Trade accounts payable$3,364 $3,647 Short-term debt475 407 Current liabilities of discontinued operations (Note 2)313 350 Other current liabilities496 520 Total current liabilities4,648 4,924 LONG-TERM LIABILITIES  Senior notes, net8,133 7,141 Other long-term debt, net71 70 Long-term operating lease liabilities190 192 Long-term liabilities of discontinued operations (Note 2)598 576 Other long-term liabilities and deferred credits535 537 Total long-term liabilities9,527 8,516 COMMITMENTS AND CONTINGENCIES (NOTE 10)PARTNERS’ CAPITAL  Class A shareholders (197,743,624 and 197,465,699 shares outstanding, respectively)1,354 1,351 Noncontrolling interests12,771 12,965 Total partners’ capital14,