Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 160

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 160
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’s partners paid during the years presented from distributions received from PAA (in millions):Distributions to AAP’s PartnersYearNoncontrolling InterestsPAGPTotal Cash Distributions2024$45 $251 $296 2023$47 $209 $256 2022$39 $162 $201 On February 14, 2025, AAP distributed $88 million to its partners from distributions received from PAA. Of this amount, $13 million was distributed to noncontrolling interests and $75 million was distributed to us.Consolidated Joint Venture Distributions. Distributions from Cactus II and Red River are paid in proportion to each owner’s interest in the entity. Cash available for distribution is cash on hand less the amount of cash required to fund normal operations and capital projects. The following table details distributions paid to noncontrolling interests in consolidated joint venture entities during the years presented (in millions):202420232022Permian JV (1)$322 $249 $273 Cactus II77 63 4 Red River26 21 21 $425 $333 $298 (1)The initial distribution from the Permian JV was paid during the first quarter of 2022, with approximately $54 million paid to noncontrolling interests.

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

Note 12—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 optimize our profits while managing 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