Company: PAGP
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001581990-25-000013
Chunk: 18

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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Item 1.    UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

PLAINS GP HOLDINGS, L.P. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions, except share data)

March 31,2025December 31,2024 (unaudited)ASSETS CURRENT ASSETS  Cash and cash equivalents$429 $349 Trade accounts receivable and other receivables, net3,820 3,901 Inventory335 439 Other current assets145 87 Total current assets4,729 4,776 PROPERTY AND EQUIPMENT22,125 21,300 Accumulated depreciation(6,063)(5,876)Property and equipment, net16,062 15,424 OTHER ASSETS  Investments in unconsolidated entities2,745 2,811 Intangible assets, net1,675 1,677 Deferred tax asset1,199 1,220 Linefill988 968 Long-term operating lease right-of-use assets, net321 332 Long-term inventory289 280 Other long-term assets, net244 268 Total assets$28,252 $27,756 LIABILITIES AND PARTNERS’ CAPITAL  CURRENT LIABILITIES  Trade accounts payable$3,725 $3,881 Short-term debt478 408 Other current liabilities481 635 Total current liabilities4,684 4,924 LONG-TERM LIABILITIES  Senior notes, net8,131 7,141 Other long-term debt, net73 72 Long-term operating lease liabilities301 313 Other long-term liabilities and deferred credits1,003 990 Total long-term liabilities9,508 8,516 COMMITMENTS AND CONTINGENCIES (NOTE 9)PARTNERS’ CAPITAL  Class A shareholders (197,743,624 and 197,465,699 shares outstanding, respectively)1,356 1,351 Noncontrolling interests12,704 12,965 Total partners’ capital14,060 14,316 Total liabilities and partners’ capital$28,252 $27,756 

The accompanying notes are an integral part of these condensed consolidated financial statements.

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PLAINS GP HOLDINGS, L.P. AND SUBSIDIARIES