Company: PAGP
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001581990-25-000013
Chunk: 102

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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 hedging-related margin obligations, and construction activities. At March 31, 2025 and December 31, 2024, we had outstanding letters of credit of $78 million and $90 million, respectively.

15

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

Note 6—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   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 (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 three months of 2025 (in millions, except per share data):Class A ShareholdersDistribution Payment DateRecord Date (1)Quarter EndedCash DistributionDistribution per UnitMay 15, 2025 May 1, 2025March 31, 2025$75 $0.38 February 14, 2025January 31, 2025December 31, 2024$75 $0.38 (1)Payable to shareholders of record at the close of business on the applicable Record Date