Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 213

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 213
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venues in this category include (i) fees that are generated when we receive liquids from one connecting source and deliver the applicable product to another connecting carrier, (ii) fees from storage capacity agreements, (iii) fees from loading and unloading services at our terminals and (iv) fees from natural gas and condensate processing services and from NGL fractionation and isomerization service. We generate revenue through a combination of month-to-month and multi-year agreements and processing arrangements. Storage fees are typically recognized in revenue ratably over the term of the contract regardless of the actual storage capacity utilized as our performance obligation is to make available storage capacity for a period of time. Terminal fees (including throughput and loading/unloading fees) are recognized as the liquids enter or exit the terminal and are received from or delivered to the connecting carrier or third-party terminal, as applicable. We recognize loading and unloading fees when the volumes are delivered or received. Natural gas storage related activities fees were recognized in the period the natural gas moved across our header system. Fees from NGL fractionation and isomerization services and gas processing services are recognized in the period when the services are performed.Reconciliation to Total Revenues of Reportable Segments. The following disclosures only include information regarding revenues associated with consolidated entities; revenues from entities accounted for by the equity method are not included. The following tables present the reconciliation of our revenues from contracts with customers (as described above for each segment) to total revenues of reportable segments and total revenues as disclosed in our Consolidated Statements of Operations (in millions):Year Ended December 31, 2024Crude OilNGLTotalRevenues from contracts with customers$48,651 $1,872 $50,523 Other revenues69 (148)(79)Total revenues of reportable segments$48,720 $1,724 $50,444 Intersegment revenues elimination(371)Total revenues$50,073 Year Ended December 31, 2023Crude OilNGLTotalRevenues from contracts with customers$47,146 $1,853 $48,999 Other revenues28 82 110 Total revenues of reportable segments$47,174 $1,935 $49,109 Intersegment revenues elimination(397)Total revenues$48,712 Year Ended December 31, 2022Crude OilNGLTotalRevenues from contracts with customers$54,929 $2,544 $57,473