Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 288

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 288
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Note 14)5 — 5 Other comprehensive loss (Note 11)(28)(73)(101)Equity-indexed compensation expense10 23 33 Repurchase of common units by a subsidiary (Note 11)2 (76)(74)Contributions from noncontrolling interests— 26 26 Cactus II Pipeline LLC transaction (Note 7)— 526 526 Other(4)(30)(34)Balance at December 31, 2022$1,524 $13,114 $14,638 Net income198 1,227 1,425 Distributions (Note 11)(209)(1,121)(1,330)Deferred tax asset (Note 14)(2)— (2)Other comprehensive income (Note 11)33 85 118 Equity-indexed compensation expense11 26 37 Contributions from noncontrolling interests— 106 106 Other(7)(13)(20)Balance at December 31, 2023$1,548 $13,424 $14,972 Net income103 967 1,070 Distributions (Note 11)(251)(1,318)(1,569)Deferred tax asset (Note 14)18 — 18 Other comprehensive loss (Note 11)(69)(178)(247)Equity-indexed compensation expense12 26 38 Contributions from noncontrolling interests— 57 57 Other(10)(13)(23)Balance at December 31, 2024$1,351 $12,965 $14,316 

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

F-9

Table of ContentsIndex to Financial StatementsPLAINS GP HOLDINGS, L.P. AND SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 1—Organization and Basis of Consolidation and Presentation

OrganizationPlains GP Holdings, L.P. (“PAGP”) is a Delaware limited partnership formed in 2013 that has elected to be taxed as a corporation for United States federal income tax purposes. PAGP does not directly own any operating assets; as of December 31, 2024, its sole source of cash flow is derived from an indirect investment in Plains All American Pipeline, L.P. (“PAA”), a publicly traded Delaware limited partnership. As used in this Form 10-K and