Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 480

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 480
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 (4)(1)%Income tax expense204 189 15 8 %Depreciation and amortization1,026 1,051 (25)(2)%(Gains)/losses on asset sales, asset impairments and other, net160 (152)312 205 %Gain on investments in unconsolidated entities, net(15)(28)13 46 %Depreciation and amortization of unconsolidated entities (2)84 87 (3)(3)%Unallocated general and administrative expenses (3)6 6 — — %Selected Items Impacting Comparability:Derivative activities and inventory valuation adjustments85 159 (74)**Long-term inventory costing adjustments(9)35 (44)**Deficiencies under minimum volume commitments, net(31)12 (43)**Equity-indexed compensation expense36 36 — **Foreign currency revaluation(27)24 (51)**Line 901 incident345 10 335 **Transaction-related expenses— 1 (1)**Selected Items Impacting Comparability - Segment Adjusted EBITDA (4)399 277 122 **Mark-to-market adjustment of Preferred Distribution Rate Reset Option embedded derivative (5)— (58)58 **Foreign currency revaluation (6)10 (16)26 **Selected Items Impacting Comparability - Adjusted EBITDA (6)409 203 206 **Adjusted EBITDA (7)$3,326 $3,167 $159 5 %Adjusted EBITDA attributable to noncontrolling interests in consolidated joint ventures (8)(547)(456)(91)(20)%Adjusted EBITDA attributable to PAA$2,779 $2,711 $68 3 %

**       Indicates that variance as a percentage is not meaningful.

(1)Represents “Interest expense, net” as reported on our Consolidated Statements of Operations.

(2)We exclude our proportionate share of the depreciation and amortization expense (including write-downs related to cancelled projects and impairments) of unconsolidated entities when reviewing Adjusted EBITDA, similar to our consolidated assets.

(3)Represents general and administrative expenses incremental to those of PAA, which are not allocated to our reporting segments in determining Segment Adjusted EBITDA and are excluded in the non-GAAP financial performance measures utilized by management.

(4)For