Company: PAGP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001581990-25-000021
Chunk: 121

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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, and construction activities. At June 30, 2025 and December 31, 2024, we had outstanding letters of credit of $81 million and $90 million, respectively.

20

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

Note 7—Partners’ Capital and Distributions

Shares Outstanding The following tables present the activity for our Class A shares, Class B shares and Class C shares: Class A SharesClass B SharesClass C SharesOutstanding at December 31, 2024197,465,699 35,390,231 542,004,838 Exchange Right exercises (1)277,925 (277,925)— Repurchase of Series A preferred units by a subsidiary— — (12,678,560)Other— — 5,650 Outstanding at March 31, 2025197,743,624 35,112,306 529,331,928 Repurchase and cancellation of common units by a subsidiary under the Common Equity Repurchase Program— — (476,695)Other— — 5,197 Outstanding at June 30, 2025197,743,624 35,112,306 528,860,430   Class A SharesClass B SharesClass C SharesOutstanding at December 31, 2023196,416,760 36,237,168 539,445,289 Exchange Right exercises (1)835,499 (835,499)— Other— — 62,282 Outstanding at March 31, 2024197,252,259 35,401,669 539,507,571 Exchange Right exercises (1)11,438 (11,438)— Other— — 10,268 Outstanding at June 30, 2024197,263,697 35,390,231 539,517,839 (1)See Note 11 to our Consolidated Financial Statements included in Part IV of our 2024 Annual Report on Form 10-K for information regarding conversions of AAP Management Units, Exchange Rights and Redemption Rights.DistributionsThe following table details distributions to our Class A shareholders paid during or pertaining to the first six