Company: PAGP
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001581990-25-000013
Chunk: 26

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 Total Crude Oil segment revenues from contracts with customers$11,408 $11,577 Three Months EndedMarch 31,20252024NGL segment revenues from contracts with customersSales$629 $600 Transportation9 10 Terminalling, Storage and Other20 21 Total NGL segment revenues from contracts with customers$658 $631 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 to total revenues of reportable segments and total revenues as disclosed in our Condensed Consolidated Statements of Operations (in millions):Three Months Ended March 31, 2025Crude OilNGLTotalRevenues from contracts with customers$11,408 $658 $12,066 Other revenues31 (20)11 Total revenues of reportable segments$11,439 $638 $12,077 Intersegment revenues elimination(66)Total revenues$12,011 Three Months Ended March 31, 2024Crude OilNGLTotalRevenues from contracts with customers$11,577 $631 $12,208 Other revenues5 (124)(119)Total revenues of reportable segments$11,582 $507 $12,089 Intersegment revenues elimination(94)Total revenues$11,995 

11

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

Minimum Volume Commitments. We have certain agreements that require counterparties to transport or throughput a minimum volume over an agreed upon period. The following table presents counterparty deficiencies associated with contracts with customers and buy/sell arrangements that include minimum volume commitments for which we had remaining performance obligations and the customers still had the ability to meet their obligations (in millions):Counterparty DeficienciesFinancial Statement ClassificationMarch 31,2025December 31,2024Billed and collectedOther current liabilities$72 $83 Contract Balances. Our contract balances consist of amounts received associated with services or sales for which we have not yet completed the related performance obligation. The following table presents the changes in the liability balance associated with contracts with customers (in millions): Contract LiabilitiesBalance at December 31, 2024$