Company: PAGP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001581990-25-000021
Chunk: 112

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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The following table provides a reconciliation of the line items comprising pretax income from discontinued operations to income from discontinued operations, net of tax (in millions):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Revenues:Product sales$181 $142 $679 $455 Services30 34 66 77 Total revenues211 176 745 532 Cost and Expenses:Purchases and related costs10 20 252 232 Field operating costs53 70 122 155 General and administrative expenses12 14 26 29 Depreciation and amortization27 31 57 62 (Gains)/losses on asset sales, net13 (1)13 (2)Total costs and expenses115 134 470 476 Income from discontinued operations before tax96 42 275 56 Current income tax expense(14)(17)(54)(55)Deferred income tax (expense)/benefit(12)7 (15)41 Income from discontinued operations, net of tax$70 $32 $206 $42 

Note 3—Revenues and Accounts Receivable

Revenue RecognitionWe disaggregate our revenues by segment and type of activity. These categories depict how the nature, amount, timing and uncertainty of revenues and cash flows are affected by economic factors.Revenues from Contracts with Customers. The following tables present our revenues from contracts with customers disaggregated by segment and type of activity (in millions):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Crude Oil segment revenues from contracts with customersSales$10,228 $12,327 $21,236 $23,513 Transportation340 295 652 595 Terminalling, Storage and Other87 95 175 187 Total Crude Oil segment revenues from contracts with customers$10,655 $12,717 $22,063 $24,295 Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024NGL segment revenues from contracts with customersSales$24 $23 $66 $84 Terminalling, Storage and Other2 2 1 2 Total NGL segment revenues from contracts with customers$26 $25 $67 $86 

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Table of ContentsPLAINS GP HOLDINGS, L.P. AND SUB