Company: PAGP
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001581990-25-000013
Chunk: 19

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data)

Three Months EndedMarch 31, 20252024 (unaudited)REVENUES  Product sales revenues$11,544 $11,546 Services revenues467 449 Total revenues12,011 11,995 COSTS AND EXPENSES  Purchases and related costs10,761 10,917 Field operating costs368 358 General and administrative expenses101 97 Depreciation and amortization262 254 Gain on asset sales, net(13)— Total costs and expenses11,479 11,626 OPERATING INCOME532 369 OTHER INCOME/(EXPENSE)  Equity earnings in unconsolidated entities103 95 Gain on investments in unconsolidated entities, net31 — Interest expense (net of capitalized interest of $2 and $2, respectively)(107)(95)Other income/(expense), net6 (5)INCOME BEFORE TAX565 364 Current income tax expense(46)(53)Deferred income tax (expense)/benefit(27)25 NET INCOME492 336 Net income attributable to noncontrolling interests(408)(294)NET INCOME ATTRIBUTABLE TO PAGP$84 $42 Basic and diluted weighted average Class A shares outstanding198 197 Basic and diluted net income per Class A share$0.42 $0.21 

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

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PLAINS GP HOLDINGS, L.P. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in millions)

 Three Months EndedMarch 31, 20252024 (unaudited)Net income$492 $336 Other comprehensive income/(loss)5 (71)Comprehensive income497 265 Comprehensive income attributable to noncontrolling interests(412)(243)Comprehensive income attributable to PAGP$85 $22 

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

PLAINS GP HOLDINGS, L.P. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)

(in millions)

 DerivativeInstrumentsTranslationAdjust