Company: PAGP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001581990-25-000021
Chunk: 35

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 reduced by a hypothetical share repurchase based on the remaining unamortized fair value, as prescribed by the treasury stock method in guidance issued by the FASB. See Note 17 to our Consolidated Financial Statements included in Part IV of our 2024 Annual Report on Form 10-K for information regarding PAGP LTIP awards.On a weighted-average basis, the possible exchange of 35 million AAP units was dilutive to net income per Class A share from discontinued operations for both the six months ended June 30, 2025 and the three months ended June 30, 2024. The possible exchange did not result in dilution for net income per Class A share from discontinued operations for the three months ended June 30, 2025 and the six months ended June 30, 2024. The possible exchange did not result in dilution for net income per Class A share from continuing operations for any of the periods presented. Accordingly, the effect of the possible exchange of AAP units is included in the computation of diluted net income per share for discontinued operations for these periods and excluded from the calculation for all others.  For each of the three and six months ended June 30, 2025 and 2024, our PAGP LTIP awards were also dilutive and are included in the calculation of diluted weighted average Class A shares outstanding, as applicable.

17

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

The following table sets forth the computation of basic and diluted net income per Class A share (in millions, except per share data): Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024Basic Net Income per Class A Share  Net income attributable to PAGP from continuing operations$10 $30 $56 $69 Net income attributable to PAGP from discontinued operations$20 $9 $58 $12 Basic weighted average Class A shares outstanding198 197 198 197 Basic Net Income per Class A Share: Continuing operations$0.05 $0.15 $0.29 $0.35 Discontinued operations0.10 0.05 0.29 0.06 Basic net income per Class A share$0.15 $0.20 $0.58