Company: PAGP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001581990-25-000028
Chunk: 126

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 126
---
,559 $24 $11,583 Intersegment revenues elimination(5)Total revenues$11,578 Three Months Ended September 30, 2024Crude OilNGLTotalRevenues from contracts with customers$12,467 $20 $12,487 Other revenues(23)— (23)Total revenues of reportable segments$12,444 $20 $12,464 Intersegment revenues elimination(8)Total revenues$12,456 Nine Months Ended September 30, 2025Crude OilNGLTotalRevenues from contracts with customers$33,599 $92 $33,691 Other revenues21 — 21 Total revenues of reportable segments$33,620 $92 $33,712 Intersegment revenues elimination(14)Total revenues$33,698 

14

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

Nine Months Ended September 30, 2024Crude OilNGLTotalRevenues from contracts with customers$36,761 $106 $36,867 Total revenues of reportable segments$36,761 $106 $36,867 Intersegment revenues elimination(13)Total revenues$36,854 Minimum Volume Commitments. We have certain agreements that require counterparties to transport or throughput a minimum volume over an agreed upon period. The following table presents counterparty deficiencies associated with contracts with customers and buy/sell arrangements that include minimum volume commitments for which we had remaining performance obligations and the customers still had the ability to meet their obligations (in millions):Counterparty DeficienciesFinancial Statement ClassificationSeptember 30,2025December 31,2024Billed and collectedOther current liabilities$57 $83 Contract Balances. Our contract balances consist of amounts received associated with services or sales for which we have not yet completed the related performance obligation. The following table presents the changes in the liability balance associated with contracts with customers (in millions): Contract LiabilitiesBalance at December 31, 2024$87 Amounts recognized as revenue(40)Additions19 Balance at September 30, 2025$66 Remaining Performance Obligations. The information below includes the amount of consideration allocated to partially and wholly unsatisfied remaining performance obligations under contracts that existed as of the end of the periods and