Company research
PLAINS ALL AMERICAN PIPELINE LP
CIK 1070423Updated Sep 26, 2026
SecuritiesPAA · NASDAQ · equityPAAPU · OTC · unit
PAA price & chart
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NASDAQ:PAA on TradingView ↗About the company
PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil. PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada.
In the news
Plains All American Reports Second-Quarter 2026 Results ↗
Recent filings
Show 5 more recent filings
424B5 filing
Results of Operations and Financial Condition · Other Events
Items 2.02, 8.01, 9.01
10-Q filing
Completion of Acquisition or Disposition of Assets · Regulation FD Disclosure
Items 2.01, 7.01, 9.01
144 filing
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 30,169,000,000Source | 26,562,000,000Source | 27,355,000,000Source | 27,892,000,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 328,000,000Source | 348,000,000Source | 450,000,000Source | 401,000,000Source |
| Inventory, NetUSD | 211,000,000Source | 439,000,000Source | 548,000,000Source | 729,000,000Source |
| Assets, CurrentUSD | 4,733,000,000Source | 4,802,000,000Source | 4,913,000,000Source | 5,355,000,000Source |
| Operating Lease, Right-of-Use AssetUSD | 198,000,000Source | 332,000,000Source | 313,000,000Source | 349,000,000Source |
| Other Assets, NoncurrentUSD | 107,000,000Source | 268,000,000Source | 411,000,000Source | 464,000,000Source |
| LIABILITIES AND EQUITY | ||||
| Liabilities and EquityUSD | 30,169,000,000Source | 26,562,000,000Source | 27,355,000,000Source | 27,892,000,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 4,931,000,000Source | 4,950,000,000Source | 5,003,000,000Source | 5,891,000,000Source |
| Operating Lease, Liability, CurrentUSD | 27,000,000Source | 63,000,000Source | 69,000,000Source | 71,000,000Source |
| Operating Lease, Liability, NoncurrentUSD | 202,000,000Source | 313,000,000Source | 274,000,000Source | 308,000,000Source |
| Other Liabilities, NoncurrentUSD | 654,000,000Source | 990,000,000Source | 1,041,000,000Source | 1,081,000,000Source |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | 197,000,000Source | 464,000,000Source | 535,000,000Source | 545,000,000Source |
| Partners' CapitalUSD | 9,836,000,000Source | 9,813,000,000Source | 10,422,000,000Source | 10,057,000,000Source |
| Partners' Capital, Including Portion Attributable to Noncontrolling InterestUSD | 13,080,000,000Source | 13,096,000,000Source | 13,732,000,000Source | 13,325,000,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 1,769,000,000Source | 1,113,000,000Source | 1,502,000,000Source | 1,228,000,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 953,000,000Source | 1,026,000,000Source | 1,048,000,000Source | 965,000,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in InventoriesUSD | -96,000,000Source | -70,000,000Source | -223,000,000Source | 10,000,000Source |
| Deferred Income Tax Expense (Benefit)USD | 14,000,000Source | -28,000,000Source | -24,000,000Source | 105,000,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 2,936,000,000Source | 2,490,000,000Source | 2,727,000,000Source | 2,408,000,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -3,769,000,000Source | -1,504,000,000Source | -702,000,000Source | -526,000,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | 0Source | -4,000,000Source | -1,000,000Source | -44,000,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 643,000,000Source | 619,000,000Source | 559,000,000Source | 455,000,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 8,000,000Source | — | — | 74,000,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 799,000,000Source | -1,077,000,000Source | -1,976,000,000Source | -1,931,000,000Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | -84,000,000Source | -53,000,000Source | -93,000,000Source | -53,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -20,000,000Source | -102,000,000Source | 49,000,000Source | -52,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 328,000,000Source | 348,000,000Source | 450,000,000Source | 401,000,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 516,000,000Source | 381,000,000Source | 377,000,000Source | 393,000,000Source |
| Income Taxes Paid, NetUSD | 98,000,000Source | 269,000,000Source | 69,000,000Source | 112,000,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 14,000,000Source | -11,000,000Source | — | -3,000,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 49,000,000Source | 50,000,000Source | 50,000,000Source | 40,000,000Source |
| Amortization of Intangible AssetsUSD | 280,000,000Source | 266,000,000Source | 308,000,000Source | 254,000,000Source |
| Asset Retirement Obligation, Accretion ExpenseUSD | 4,000,000Source | 4,000,000Source | 4,000,000Source | 4,000,000Source |
| DepreciationUSD | 673,000,000Source | 753,000,000Source | 733,000,000Source | 707,000,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -13,000,000Source | 17,000,000Source | -8,000,000Source | -41,000,000Source |
| Gain (Loss) on Sale of Assets and Asset Impairment ChargesUSD | 54,000,000Source | -160,000,000Source | 152,000,000Source | -269,000,000Source |
| General and Administrative ExpenseUSD | 342,000,000Source | 381,000,000Source | 350,000,000Source | 325,000,000Source |
| Goodwill, Impairment LossUSD | — | — | — | 0Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | 1,052,000,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 1,386,000,000Source | — | — | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 383,000,000Source | — | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | 382,000,000Source | 452,000,000Source | 369,000,000Source | 403,000,000Source |
| Income Tax Expense (Benefit)USD | 15,000,000Source | 167,000,000Source | 121,000,000Source | 189,000,000Source |
| InterestExpenseNonoperatingUSD | 554,000,000Source | 430,000,000Source | — | — |
| Inventory Write-downUSD | 0Source | 0Source | 0Source | 0Source |
| Net Income (Loss) Attributable to ParentUSD | 1,435,000,000Source | 772,000,000Source | 1,230,000,000Source | 1,037,000,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 334,000,000Source | 341,000,000Source | 272,000,000Source | 191,000,000Source |
| Operating Costs and ExpensesUSD | 1,154,000,000Source | 1,768,000,000Source | 1,425,000,000Source | 1,315,000,000Source |
| Operating Lease, Lease IncomeUSD | 8,000,000Source | 26,000,000Source | 32,000,000Source | 29,000,000Source |
| Other Nonoperating Income (Expense)USD | 108,000,000Source | 65,000,000Source | 102,000,000Source | -219,000,000Source |
| Proceeds from Noncontrolling InterestsUSD | 75,000,000Source | 57,000,000Source | 106,000,000Source | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 44,262,000,000Source | 50,073,000,000Source | 48,712,000,000Source | 57,342,000,000Source |
| Cost of RevenueUSD | 40,433,000,000Source | 45,560,000,000Source | 44,531,000,000Source | 53,176,000,000Source |
| Gross Profit (Calculated) · Derived | — | — | — | — |
| Operating Income (Loss)USD | 1,434,000,000Source | 1,178,000,000Source | 1,510,000,000Source | 1,292,000,000Source |
| Other Nonoperating Income (Expense)USD | 108,000,000Source | 65,000,000Source | 102,000,000Source | -219,000,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 1,401,000,000Source | 1,280,000,000Source | 1,623,000,000Source | 1,417,000,000Source |
| Income Tax Expense (Benefit)USD | 15,000,000Source | 167,000,000Source | 121,000,000Source | 189,000,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 334,000,000Source | 341,000,000Source | 272,000,000Source | 191,000,000Source |
| Net Income (Loss) Attributable to ParentUSD | 1,435,000,000Source | 772,000,000Source | 1,230,000,000Source | 1,037,000,000Source |
| Interest Expense (non-operating)USD | 554,000,000Source | 430,000,000Source | — | — |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 280,000,000Source | 266,000,000Source | 308,000,000Source | 254,000,000Source |
| Costs and ExpensesUSD | 42,828,000,000Source | 48,895,000,000Source | 47,202,000,000Source | 56,050,000,000Source |
| Current Income Tax Expense (Benefit)USD | 1,000,000Source | 195,000,000Source | 145,000,000Source | 84,000,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -13,000,000Source | 17,000,000Source | -8,000,000Source | -41,000,000Source |
| General and Administrative ExpenseUSD | 342,000,000Source | 381,000,000Source | 350,000,000Source | 325,000,000Source |
| Goodwill, Impairment LossUSD | — | — | — | 0Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | 1,052,000,000Source | — | — | — |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 1,356,000,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 1,386,000,000Source | — | — | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 383,000,000Source | — | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | 382,000,000Source | 452,000,000Source | 369,000,000Source | 403,000,000Source |
| Interest ExpenseUSD | — | — | 386,000,000Source | 405,000,000Source |
| Operating Costs and ExpensesUSD | 1,154,000,000Source | 1,768,000,000Source | 1,425,000,000Source | 1,315,000,000Source |
| Operating Lease, Lease IncomeUSD | 8,000,000Source | 26,000,000Source | 32,000,000Source | 29,000,000Source |
Filing attachments
tm2624813d1_ex99-1.htm · 8-K · 2026-09-09
EX-99.1 2 tm2624813d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 PLAINS ALL AMERICAN PIPELINE, L.P. AND SUBSIDIARIES UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION On November 6, 2025, Plains All American Pipeline, L.P. (“PAA”, “we”, “us”, “our”, or the “Company”) filed a Current Report on Form 8-K, as amended on a Form 8-K/A filed on January 16, 2026, to report that on October 31, 2025, pursuant to a Purchase and Sale Agreement (the “PSA”) entered into on August 30, 2025 by and a…
Read attachment ↗tm2614302d2_ex99-1.htm · 8-K · 2026-05-13
EX-99.1 2 tm2614302d2_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plains All American Pipeline, L.P. and Plains GP Holdings Announce Appointment of New Board Member HOUSTON, May 11, 2026 - Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today announced that Cynthia B. Taylor has been appointed as an independent member of the Board of Directors of PAA GP Holdings LLC (“GP Holdings”) serving in Class III. Ms. Taylor will also serve as a member of the Compensat…
Read attachment ↗tm2614302d1_ex99-1.htm · 8-K · 2026-05-12
EX-99.1 5 tm2614302d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plains All American Pipeline and Plains GP Holdings Announce Completion of Canadian NGL Divestiture HOUSTON - May 12, 2026 - Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) (collectively, “Plains”) completed the previously announced sale of all of the issued and outstanding shares of Plains Midstream Canada ULC, the PAA subsidiary that owns substantially all of PAA’s natural gas liquids (NGL) …
Read attachment ↗tm2524999d4_ex4-1.htm · 8-K · 2025-09-08
EX-4.1 3 tm2524999d4_ex4-1.htm EXHIBIT 4.1 Exhibit 4.1 PLAINS ALL AMERICAN PIPELINE, L.P. PAA FINANCE CORP. as Issuers $700,000,000 4.700% SENIOR NOTES DUE 2031 THIRTY-FIFTH SUPPLEMENTAL INDENTURE Dated as of September 8, 2025 U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION as Trustee TABLE OF CONTENTS ARTICLE I 1 Section 1.01. …
Read attachment ↗tm2524999d4_ex4-3.htm · 8-K · 2025-09-08
EX-4.3 4 tm2524999d4_ex4-3.htm EXHIBIT 4.3 Exhibit 4.3 PLAINS ALL AMERICAN PIPELINE, L.P. PAA FINANCE CORP. as Issuers $550,000,000 5.600% SENIOR NOTES DUE 2036 THIRTY-SIXTH SUPPLEMENTAL INDENTURE Dated as of September 8, 2025 U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION as Trustee TABLE OF CONTENTS ARTICLE I 1 Section 1.…
Read attachment ↗tm2524777d1_ex99-1.htm · 8-K · 2025-09-02
EX-99.1 2 tm2524777d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plains to Acquire 55% Interest in EPIC Crude Holdings, LP Enhancing Wellhead to Water Strategy HOUSTON - September 2, 2025 - Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) (collectively, “Plains”) announced today that a wholly owned subsidiary has entered into a definitive agreement to acquire from subsidiaries of Diamondback Energy, Inc. and Kinetik Holdings Inc., a 55% non-operated interes…
Read attachment ↗