Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 120

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 120
---
 Oil and NGL. See Note 19 for further discussion of our operating segments.PAA GP Holdings LLC, a Delaware limited liability company, is our general partner. Our general partner manages our operations and activities and is responsible for exercising on our behalf any rights we have as the sole and managing member of GP LLC, including responsibility for conducting the business and managing the operations of AAP and PAA. GP LLC employs our domestic officers and personnel involved in the operation and management of AAP and PAA.  PAA’s Canadian officers and personnel are employed by our subsidiary, Plains Midstream Canada ULC.References to the “Plains Entities” include us, our general partner, GP LLC, AAP, PAA GP and PAA and its subsidiaries.DefinitionsAdditional defined terms may be used in the following notes and shall have the meanings indicated below:AOCI=Accumulated other comprehensive income/(loss)ASC=Accounting Standards CodificationASU=Accounting Standards UpdateBcf=Billion cubic feetBtu=British thermal unitCAD=Canadian dollarCODM=Chief Operating Decision MakerDERs=Distribution equivalent rightsEBITDA=Earnings before interest, taxes, depreciation and amortizationEPA=United States Environmental Protection AgencyFASB=Financial Accounting Standards BoardGAAP=Generally accepted accounting principles in the United StatesICE=Intercontinental Exchange

F-10

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

ISDA=International Swaps and Derivatives AssociationLIBOR=London Interbank Offered RateLTIP=Long-term incentive planMcf=Thousand cubic feetMMbls=Million barrelsNGL=Natural gas liquids, including ethane, propane and butaneNYMEX=New York Mercantile ExchangeOECD=Organisation for Economic Co-operation and DevelopmentSEC=United States Securities and Exchange CommissionSOFR=Secured Overnight Financing RateTWh=Terawatt hourU.S.=United StatesUSD=United States dollarWTI=West Texas IntermediateBasis of Consolidation and PresentationThe accompanying financial statements and related notes present and discuss our consolidated financial position as of December 31, 2024 and 2023, and the consolidated results of our operations, cash flows, changes in partners’ capital, comprehensive income and changes in accumulated other comprehensive income/(loss) for the years ended December 31, 2024, 2023 and 2022. All significant