Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 14

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 14
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 subsidiaries.DefinitionsAdditional defined terms may be used in the following notes and shall have the meanings indicated below:AOCI=Accumulated other comprehensive income/(loss)ASC=Accounting Standards CodificationASU=Accounting Standards UpdateBcf=Billion cubic feetBtu=British thermal unitCAD=Canadian dollarCODM=Chief Operating Decision MakerDERs=Distribution equivalent rightsEBITDA=Earnings before interest, taxes, depreciation and amortizationEPA=United States Environmental Protection AgencyFASB=Financial Accounting Standards BoardGAAP=Generally accepted accounting principles in the United StatesICE=Intercontinental Exchange

F-10

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

ISDA=International Swaps and Derivatives AssociationLIBOR=London Interbank Offered RateLTIP=Long-term incentive planMcf=Thousand cubic feetMMbls=Million barrelsNGL=Natural gas liquids, including ethane, propane and butaneNYMEX=New York Mercantile ExchangeOECD=Organisation for Economic Co-operation and DevelopmentSEC=United States Securities and Exchange CommissionSOFR=Secured Overnight Financing RateTWh=Terawatt hourU.S.=United StatesUSD=United States dollarWTI=West Texas IntermediateBasis of Consolidation and PresentationThe accompanying financial statements and related notes present and discuss our consolidated financial position as of December 31, 2024 and 2023, and the consolidated results of our operations, cash flows, changes in partners’ capital, comprehensive income and changes in accumulated other comprehensive income/(loss) for the years ended December 31, 2024, 2023 and 2022. All significant intercompany balances and transactions have been eliminated in consolidation, and certain reclassifications have been made to information from previous years to conform to the current presentation. The accompanying consolidated financial statements include the accounts of PAGP and all of its wholly owned subsidiaries and those entities that it controls. Investments in entities over which we have significant influence but not control are accounted for by the equity method. We apply proportionate consolidation for pipelines and other assets in which we own undivided joint interests. Our reporting currency is U.S. dollars, and all references to dollars are U.S. dollars, unless stated otherwise.Management judgment is required to evaluate whether PAGP controls an entity. Key areas of that evaluation include (i) determining whether an entity is