Company: PAGP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001581990-25-000006
Chunk: 86

Company: PLAINS GP HOLDINGS LP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 86
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 expenditures.(13)Includes expenses associated with the Rattler Permian Transaction in 2023. See Note 7 for additional discussion. An adjustment for these non-recurring expenses is included in the calculation of Segment Adjusted EBITDA for the year ended December 31, 2023 as our CODM does not view such expenses as integral to understanding our core segment operating performance.

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

Segment Adjusted EBITDA ReconciliationThe following table reconciles Segment Adjusted EBITDA to Net income attributable to PAGP (in millions):Year Ended December 31,202420232022Segment Adjusted EBITDA$2,756 $2,685 $2,504 Total other segment items (1)60 90 425 Unallocated general and administrative expenses (2)(6)(6)(5)Depreciation and amortization(1,026)(1,051)(968)Gains/(losses) on asset sales, asset impairments and other, net(160)152 (269)Gain on investments in unconsolidated entities, net15 28 346 Interest expense, net(382)(386)(405)Other income/(expense), net17 102 (219)Income before tax1,274 1,614 1,409 Income tax expense(204)(189)(246)Net income1,070 1,425 1,163 Net income attributable to noncontrolling interests(967)(1,227)(995)Net income attributable to PAGP$103 $198 $168 (1)See footnotes to the segment financial data tables above for a more detailed discussion of Other segment items.(2)Represents general and administrative expenses incremental to those of PAA, which are not allocated to our reporting segments in determining Segment Adjusted EBITDA.Geographic DataWe have operations in the United States and Canada. Set forth below are revenues and long-lived assets attributable to these geographic areas (in millions):Year Ended December 31,Revenues (1)202420232022United States$44,138 $42,308 $46,903 Canada5,935 6,404 10,439 $50,073 $48,712 $57,342