Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 159

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 159
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 UnitholdersYearCash DistributionDistribution per Unit2024$79 $98.14 2023$75 $93.43 2022$49 $61.25 On February 18, 2025, PAA paid a cash distribution of $18 million ($22.73 per unit) to its Series B preferred unitholders. At December 31, 2024, approximately $9 million of accrued distributions payable to PAA’s Series B preferred unitholders was included in “Other current liabilities” on our Consolidated Balance Sheet.PAA Common Unit Distributions. After making distributions to its outstanding preferred units, PAA distributes the remainder of its available cash within 45 days following the end of each quarter to common unitholders of record, including AAP. Available cash is generally defined as all of PAA’s cash and cash equivalents on hand at the end of each quarter, less reserves established in the discretion of its general partner for future requirements. PAA’s available cash also includes cash on hand resulting from borrowings made after the end of the quarter.

F-36

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

The following table details distributions paid by PAA to its common unitholders during the years presented (in millions, except per unit data):Distributions PaidDistributions perCommon UnitYearPublicAAPTotal2024$595 $296 $891 $1.2700 2023$492 $256 $748 $1.0700 2022$383 $201 $584 $0.8325 On January 7, 2025, PAA declared a cash distribution of $0.38 per unit on its outstanding common units. The total distribution of $267 million was paid on February 14, 2025 to unitholders of record at the close of business on January 31, 2025, for the period from October 1, 2024 through December 31, 2024. Of this amount, approximately $88 million was paid to AAP.AAP Distributions. AAP distributes all of the cash received from PAA distributions on a quarterly basis, less reserves established in the discretion of its general partner for future requirements. Generally, distributions are paid to its partners in proportion to their percentage interest in AAP. The following table details the distributions to AAP