Overview
Compare with Plains GP Holdings, HF Sinclair or MPLX, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 96% of the revenue PLAINS ALL AMERICAN PIPELINE LP broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product | $45.7B | $47.2B | $42.5B |
| Service | $1.6B | $1.7B | $1.8B |
Business segments
Crude Oil brought in 100% of the revenue PLAINS ALL AMERICAN PIPELINE LP broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Crude Oil | $47.1B | $48.7B | $44.1B |
| Natural Gas Liquids | $186.0M | $187.0M | $150.0M |
Regions
United States brought in 90% of the revenue PLAINS ALL AMERICAN PIPELINE LP broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $41.7B | $43.5B | $39.8B |
| Canada | $5.6B | $5.4B | $4.5B |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue91¢$40.4B
- Other costs5¢$2.4B
- Income tax0¢$15.0M
- Profit3¢$1.4B
Out of $44.3B in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Capital spending22¢$643.0M
- Share buybacks0¢$8.0M
- Kept or used elsewhere78¢$2.3B
Out of $2.9B of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $44.3B | $48.9B | $47.3B |
| Purchases and related costs | $40.4B | $45.2B | $43.9B |
| Field operating costs | $1.2B | $1.5B | $1.1B |
| General and administrative expenses | $342.0M | $328.0M | $299.0M |
| Depreciation and amortization | $953.0M | $901.0M | $909.0M |
| (Gains)/losses on asset sales, asset impairments and other, net (Note 7, Note 8) | -$54.0M | $159.0M | -$152.0M |
| Total costs and expenses | $42.8B | $48.0B | $46.1B |
| OPERATING INCOME | $1.4B | $868.0M | $1.3B |
| Equity earnings in unconsolidated entities | $382.0M | $452.0M | $369.0M |
| Gain on investments in unconsolidated entities, net (Note 8, Note 9) | $31.0M | $15.0M | $28.0M |
| Interest expense (net of capitalized interest of $11, $9 and $10, respectively) | -$554.0M | -$430.0M | -$386.0M |
| Other income, net | $108.0M | $64.0M | $102.0M |
| INCOME FROM CONTINUING OPERATIONS BEFORE TAX | $1.4B | $969.0M | $1.4B |
| Current income tax expense from continuing operations | -$1.0M | -$82.0M | -$70.0M |
| Deferred income tax (expense)/benefit from continuing operations | -$14.0M | -$5.0M | $9.0M |
| INCOME FROM CONTINUING OPERATIONS, NET OF TAX | $1.4B | $882.0M | $1.3B |
| INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 3) | $383.0M | $231.0M | $192.0M |
| NET INCOME | $1.8B | $1.1B | $1.5B |
| Net income attributable to noncontrolling interests | -$334.0M | -$341.0M | -$272.0M |
| NET INCOME ATTRIBUTABLE TO PAA | $1.4B | $772.0M | $1.2B |
| Interest expense, capitalized interest | $11.0M | $9.0M | $10.0M |
| Period ending | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total revenues | $10.6B | $11.6B | $10.6B | $11.5B | $12.0B | $12.5B | $12.8B | $11.6B |
| OPERATING INCOME | $355.0M | $484.0M | $239.0M | $354.0M | -$16.0M | $196.0M | $332.0M | $356.0M |
| INCOME FROM CONTINUING OPERATIONS, NET OF TAX | $325.0M | $453.0M | $227.0M | $380.0M | $45.0M | $198.0M | $298.0M | $341.0M |
| INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 3) | $102.0M | $76.0M | $70.0M | $136.0M | $74.0M | $114.0M | $32.0M | $10.0M |
| NET INCOME | $427.0M | $529.0M | $297.0M | $516.0M | $119.0M | $312.0M | $330.0M | $351.0M |
| NET INCOME ATTRIBUTABLE TO PAA | $342.0M | $441.0M | $210.0M | $443.0M | $36.0M | $220.0M | $250.0M | $266.0M |
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $328.0M | $348.0M | ||
| Trade accounts receivable and other receivables, net | $3.6B | $3.7B | ||
| Inventory | $211.0M | $261.0M | ||
| Current assets of discontinued operations (Note 3) | $479.0M | $415.0M | ||
| Other current assets | $117.0M | $99.0M | ||
| Total current assets | $4.7B | $4.8B | ||
| PROPERTY AND EQUIPMENT | $22.5B | $18.5B | ||
| Accumulated depreciation | -$5.7B | -$5.1B | ||
| Property and equipment, net | $16.9B | $13.4B | ||
| Investments in unconsolidated entities | $2.8B | $2.8B | $2.8B | |
| Intangible assets, net | $1.8B | $1.7B | ||
| Linefill | $900.0M | $904.0M | ||
| Long-term operating lease right-of-use assets, net | $198.0M | $189.0M | ||
| Long-term inventory | $214.0M | $242.0M | ||
| Long-term assets of discontinued operations (Note 3) | $2.6B | $2.3B | ||
| Other long-term assets, net | $107.0M | $142.0M | ||
| Total assets | $30.2B | $26.6B | ||
| Trade accounts payable | $3.5B | $3.6B | ||
| Short-term debt | $563.0M | $407.0M | ||
| Current liabilities of discontinued operations (Note 3) | $382.0M | $350.0M | ||
| Other current liabilities | $529.0M | $546.0M | ||
| Total current liabilities | $4.9B | $5.0B | ||
| Senior notes, net | $9.1B | $7.1B | ||
| Other long-term debt, net | $1.6B | $70.0M | ||
| Long-term operating lease liabilities | $202.0M | $192.0M | ||
| Long-term liabilities of discontinued operations (Note 3) | $606.0M | $576.0M | ||
| Other long-term liabilities and deferred credits | $654.0M | $537.0M | ||
| Total long-term liabilities | $12.2B | $8.5B | ||
| Total partners capital excluding noncontrolling interests | $9.8B | $9.8B | ||
| Noncontrolling interests | $3.2B | $3.3B | ||
| Total partners capital | $13.1B | $13.1B | $13.7B | $13.3B |
| Total liabilities and partners capital | $30.2B | $26.6B |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $328.0M | $348.0M | ||
| Trade accounts receivable and other receivables, net | $3.6B | $3.7B | ||
| Inventory | $211.0M | $261.0M | ||
| Current assets of discontinued operations (Note 3) | $479.0M | $415.0M | ||
| Other current assets | $117.0M | $99.0M | ||
| Total current assets | $4.7B | $4.8B | ||
| PROPERTY AND EQUIPMENT | $22.5B | $18.5B | ||
| Accumulated depreciation | -$5.7B | -$5.1B | ||
| Property and equipment, net | $16.9B | $13.4B | ||
| Investments in unconsolidated entities | $2.8B | $2.8B | $2.8B | |
| Intangible assets, net | $1.8B | $1.7B | ||
| Linefill | $900.0M | $904.0M | ||
| Long-term operating lease right-of-use assets, net | $198.0M | $189.0M | ||
| Long-term inventory | $214.0M | $242.0M | ||
| Long-term assets of discontinued operations (Note 3) | $2.6B | $2.3B | ||
| Other long-term assets, net | $107.0M | $142.0M | ||
| Total assets | $30.2B | $26.6B | ||
| Trade accounts payable | $3.5B | $3.6B | ||
| Short-term debt | $563.0M | $407.0M | ||
| Current liabilities of discontinued operations (Note 3) | $382.0M | $350.0M | ||
| Other current liabilities | $529.0M | $546.0M | ||
| Total current liabilities | $4.9B | $5.0B | ||
| Senior notes, net | $9.1B | $7.1B | ||
| Other long-term debt, net | $1.6B | $70.0M | ||
| Long-term operating lease liabilities | $202.0M | $192.0M | ||
| Long-term liabilities of discontinued operations (Note 3) | $606.0M | $576.0M | ||
| Other long-term liabilities and deferred credits | $654.0M | $537.0M | ||
| Total long-term liabilities | $12.2B | $8.5B | ||
| Total partners capital excluding noncontrolling interests | $9.8B | $9.8B | ||
| Noncontrolling interests | $3.2B | $3.3B | ||
| Total partners capital | $13.1B | $13.1B | $13.7B | $13.3B |
| Total liabilities and partners capital | $30.2B | $26.6B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $1.8B | $1.1B | $1.5B |
| Income from discontinued operations, net of tax | -$383.0M | -$231.0M | -$192.0M |
| Depreciation and amortization | $953.0M | $901.0M | $909.0M |
| (Gains)/losses on asset sales, asset impairments and other, net (Note 7, Note 8) | -$54.0M | $159.0M | -$152.0M |
| Equity-indexed compensation expense | $49.0M | $50.0M | $50.0M |
| Deferred income tax expense/(benefit) | $14.0M | $5.0M | -$9.0M |
| (Gain)/loss on foreign currency revaluation | $13.0M | -$12.0M | $3.0M |
| Settlement of terminated interest rate hedging instruments (Note 13) | $37.0M | $57.0M | $80.0M |
| Change in fair value of Preferred Distribution Rate Reset Option (Note 13) | $0 | $0 | -$58.0M |
| Equity earnings in unconsolidated entities | -$382.0M | -$452.0M | -$369.0M |
| Distributions on earnings from unconsolidated entities | $486.0M | $505.0M | $458.0M |
| Gain on investments in unconsolidated entities, net (Note 8, Note 9) | -$31.0M | -$15.0M | -$28.0M |
| Other | $15.0M | $17.0M | $18.0M |
| Trade accounts receivable and other | $204.0M | $76.0M | $79.0M |
| Inventory | $96.0M | $120.0M | $102.0M |
| Trade accounts payable and other | -$334.0M | -$57.0M | -$141.0M |
| Cash provided by operating activities - continuing operations | $2.5B | $2.2B | $2.3B |
| Cash provided by operating activities - discontinued operations | $484.0M | $254.0M | $475.0M |
| Net cash provided by operating activities | $2.9B | $2.5B | $2.7B |
| Cash paid in connection with acquisitions, net of cash acquired (Note 8) | -$2.7B | -$248.0M | -$425.0M |
| Investments in unconsolidated entities (Note 9) | -$2.0M | -$4.0M | -$33.0M |
| Additions to property, equipment and other | -$643.0M | -$448.0M | -$408.0M |
| Cash paid for purchases of linefill | -$27.0M | -$21.0M | -$10.0M |
| Proceeds from sales of assets (Note 8) | $81.0M | $11.0M | $328.0M |
| Investments in related party notes (Note 17) | -$330.0M | -$629.0M | $0 |
| Other investing activities | $0 | $5.0M | $8.0M |
| Cash used in investing activities - continuing operations | -$3.6B | -$1.3B | -$540.0M |
| Cash used in investing activities - discontinued operations | -$197.0M | -$170.0M | -$162.0M |
| Net cash used in investing activities | -$3.8B | -$1.5B | -$702.0M |
| Net borrowings/(repayments) under commercial paper program (Note 11) | $577.0M | -$40.0M | $433.0M |
| Repayment under EPIC credit agreement (Note 11) | -$1.1B | $0 | $0 |
| Borrowing under term loan (Note 11) | $1.1B | $0 | $0 |
| Proceeds from the issuance of senior notes (Note 11) | $3.0B | $650.0M | $0 |
| Repayments of senior notes (Note 11) | -$1.0B | -$750.0M | -$1.1B |
| Proceeds from the issuance of related party notes (Note 17) | $330.0M | $629.0M | $0 |
| Repurchase of common units (Note 12) | -$8.0M | $0 | $0 |
| Repurchase of Series A preferred units (Note 12) | -$333.0M | $0 | $0 |
| Distributions paid to noncontrolling interests (Note 12) | -$447.0M | -$425.0M | -$333.0M |
| Contributions from noncontrolling interests | $75.0M | $57.0M | $106.0M |
| Other financing activities | -$84.0M | -$53.0M | -$93.0M |
| Net cash provided by/(used in) financing activities | $799.0M | -$1.1B | -$2.0B |
| Effect of translation adjustment - continuing operations | $14.0M | -$13.0M | $3.0M |
| Effect of translation adjustment - discontinued operations | $0 | $2.0M | -$3.0M |
| Net increase/(decrease) in cash and cash equivalents and restricted cash | -$20.0M | -$102.0M | $49.0M |
| Interest, net of amounts capitalized | $516.0M | $381.0M | $377.0M |
| Income taxes, net of amounts refunded (Note 15) | $98.0M | $269.0M | $69.0M |
No quarter-by-quarter statement was filed.
Compare PLAINS ALL AMERICAN PIPELINE LP with another company
Corporate structure
PLAINS ALL AMERICAN PIPELINE LP is part of a group headed by Plains GP Holdings. 89 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of PLAINS ALL AMERICAN PIPELINE LP
- ALPS ADVISORS INC Filed SCHEDULE 13G/A on PLAINS ALL AMERICAN PIPELINE LP, latest Oct 7, 2026 (12 filings since Feb 3, 2022)
- CIBC Private Wealth Group LLC Filed SCHEDULE 13G/A on PLAINS ALL AMERICAN PIPELINE LP, latest Oct 5, 2026 (2 filings since Feb 14, 2025)
- Plains GP Holdings Houston, Texas, United States
- Plains All American Pipeline 69% · Houston, Delaware, United States
- PLAINS GAS SOLUTIONS, LLC Subsidiary · 99% · Houston, Texas, United States
- PLAINS MARKETING, L.P. Subsidiary · 99% · Houston, United States
- PAA NATURAL GAS STORAGE, L.P. Subsidiary · Wilmington, Delaware, United States
- PNG MARKETING, LLC Subsidiary · Wilmington, Delaware, United States
- PLAINS ALL AMERICAN PIPELINE LP Houston, Texas
- PLAINS AAP, L.P. Subsidiary · 99% · Houston, Delaware, United States
- Advantage Pipeline LLC Subsidiary · Texas, United States
- Alpha Crude Holdings LLC Subsidiary · Delaware, United States
- Aurora Pipeline Company Ltd. Subsidiary · Canada
- Bakersfield Crude Terminal LLC Subsidiary · Delaware, United States
- Black Knight Midstream, LLC Subsidiary · Delaware, United States
- Cactus II Pipeline LLC Subsidiary · Delaware, United States
- Cactus III Crude Holdings GP, LLC Subsidiary · Delaware, United States
- Cactus III Crude Holdings, LP Subsidiary · Delaware, United States
- Cactus III Crude Marketing, LP Subsidiary · Delaware, United States
- Cactus III Crude Pipeline, LP Subsidiary · Delaware, United States
- Cactus III Crude Services, L.P. Subsidiary · Delaware, United States
- Cactus III Crude Terminal Company, LP Subsidiary · Delaware, United States
- Cactus III Pipeline Company, LP Subsidiary · Delaware, United States
- Capline Pipeline Company LLC Subsidiary · Delaware, United States
- Cheyenne Pipeline LLC Subsidiary · Texas, United States
- Eagle Ford Crude Terminal LLC Subsidiary · Delaware, United States
- FM Gathering LLC Subsidiary · Delaware, United States
- Kern-Southland Energy Link LLC Subsidiary · Delaware, United States
- M2 Crude Oil Holdings, LLC Subsidiary · Texas, United States
- MDE 2 Holdings, LLC Subsidiary · Delaware, United States
- MDE Energy Solutions, LLC Subsidiary · Texas, United States
- MDE Midstream 2, LLC Subsidiary · Delaware, United States
- and 59 more
- Plains All American Pipeline 69% · Houston, Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What PLAINS ALL AMERICAN PIPELINE LP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finance-lease assets | $63.0M5 Dec 31, 2025 | $75.0M5 Dec 31, 2024 | −16.0% |
| Operating-lease assets (leased space) | $198.0M5 Dec 31, 2025 | $189.0M5 Dec 31, 2024 | +4.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $328.0M5 Dec 31, 2025 | $348.0M5 Dec 31, 2024 | −5.7% |
| Stakes in other companies (equity method) | $2.8B5 Dec 31, 2025 | $2.8B5 Dec 31, 2024 | +1.2% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, gross | $3.1B5 Dec 31, 2025 | $2.7B5 Dec 31, 2024 | +13.2% |
| Accumulated amortization | $1.3B5 Dec 31, 2025 | $1.0B5 Dec 31, 2024 | +27.3% |
| Finite-lived intangibles, net | $1.8B5 Dec 31, 2025 | $1.7B5 Dec 31, 2024 | +4.6% |
Inventory
Leadership
Who has led PLAINS ALL AMERICAN PIPELINE LP, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
2010201520202025
- Chief executive officerW. David Duckett Aug 22, 2016 to Nov 17, 201613
- PresidentW. David Duckett Feb 22, 2007 to May 22, 201314
- Chief financial officerAl Swanson Feb 23, 2009 to now15
- Chief financial officerPhil D. Kramer Nov 15, 2006 to Jun 5, 200716
Board members and other officers (33)
- VP, Acctg & CAORussell Lee Montgomery Sep 10, 2026 to now17
- EVP - CommercialJeremy L. Goebel Mar 4, 2019 to now18
- EVP - Operations & EngineeringDaniel J. Nerbonne Aug 29, 2016 to Dec 18, 201819
- Pres. of subsidiary-PMCW. David Duckett Feb 22, 2013 to Aug 16, 201620
- VP-Gen. Counsel & SecretaryRichard K. McGee Mar 20, 2012 to Mar 20, 201221
- VP-Acctg & Chief Acctg OfficerChris Herbold Aug 19, 2010 to now22
- Executive Vice PresidentJohn Rutherford Oct 4, 2010 to May 19, 201523
- Exec. Vice PresidentPhil D. Kramer May 15, 2009 to Nov 17, 201624
- Sr. VP-Operations & Bus. DevelMark J. Gorman Aug 1, 2008 to Aug 16, 201625
- Vice President - OperationsMark F. Shires Feb 22, 2007 to Jun 19, 200726
- Vice President - Acctg & CAOTina L. Val Feb 22, 2007 to May 17, 201027
- Vice Pres.-Finance & Treas.Al Swanson Feb 17, 2006 to May 15, 200828
- Vice Pres, Assoc. Gen. CounselLawrence J. Dreyfuss Feb 17, 2006 to Feb 17, 200629
- Vice President-Refinery SupplyJames B. Fryfogle Mar 31, 2006 to Aug 14, 200630
- Vice President-Lease SupplyRobert M. Sanford Jun 2, 2006 to Jun 2, 200631
- Vice President - AcquisitionsJim G. Hester Aug 7, 2006 to Nov 15, 200632
- Vice Pres.-Pipeline OperationsJohn F. Russell Aug 14, 2006 to Aug 14, 200633
- Sr. V.P- Admin., Tech. & RiskAlfred A. Lindseth Aug 15, 2006 to Aug 15, 200634
- Senior Group Vice PresidentGeorge R. Coiner Nov 15, 2006 to Aug 30, 200735
- Vice President-TradingJohn Vonberg Nov 15, 2006 to Aug 16, 201736
- Vice President & Sec.Tim Moore Nov 21, 2006 to Feb 15, 201237
- Board memberCindy B. Taylor May 20, 2026 to now38
- Board memberAap L.p. Plains Jan 4, 2017 to now39
- Board memberOscar B. Brown Aug 22, 2017 to Aug 22, 201740
- Board memberBernard Francis Figlock Iii. Jan 9, 2015 to Jan 9, 201541
- Board memberW. David Duckett May 17, 2012 to Aug 16, 201242
- Board memberT. Geoff McKay Feb 19, 2010 to Feb 19, 201043
- Board memberVicky Sutil Dec 30, 2010 to Dec 30, 201044
- Board memberW. Lance Conn Nov 21, 2008 to Aug 17, 200945
- Board memberDavid N. Capobianco Jul 28, 2006 to Jul 28, 200646
- Board memberEverardo Goyanes Aug 14, 2006 to Aug 16, 201647
- Board memberJ. Taft Symonds Aug 14, 2006 to Aug 16, 201948
- General counselRichard K. McGee May 17, 2012 to now49
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Advantage Pipeline LLC Texas4
- Alpha Crude Holdings LLC Delaware4
- Aurora Pipeline Company Ltd. Canada4
- Bakersfield Crude Terminal LLC Delaware4
- Black Knight Midstream, LLC Delaware4
- Cactus II Pipeline LLC Delaware4
- Cactus III Crude Holdings GP, LLC Delaware4
- Cactus III Crude Holdings, LP Delaware4
- Cactus III Crude Marketing, LP Delaware4
- Cactus III Crude Pipeline, LP Delaware4
- Cactus III Crude Services, L.P. Delaware4
- Cactus III Crude Terminal Company, LP Delaware4
- Cactus III Pipeline Company, LP Delaware4
- Capline Pipeline Company LLC Delaware4
- Cheyenne Pipeline LLC Texas4
- Eagle Ford Crude Terminal LLC Delaware4
- FM Gathering LLC Delaware4
- Kern-Southland Energy Link LLC Delaware4
- M2 Crude Oil Holdings, LLC Texas4
- MDE 2 Holdings, LLC Delaware4
- MDE Energy Solutions, LLC Texas4
- MDE Midstream 2, LLC Delaware4
- MDE Midstream Services, LLC Delaware4
- MDE Midstream, LLC Texas4
All 79 listed subsidiaries
- MDE Pipeline Logistics, LLC Texas4
- Midway Pipeline LLC Delaware4
- Niobrara Crude Terminal LLC Delaware4
- OMOG JV Holdings LLC Delaware4
- OMOG JV LLC Delaware4
- Oryx Delaware Oil Transport LLC Delaware4
- Oryx Midland Oil Gathering LLC Texas4
- Oryx Midland Oil Marketing LLC Delaware4
- Oryx Midstream Holdings LLC Delaware4
- Oryx Wink Oil Pipeline LLC Delaware4
- PAA Finance Corp. Delaware4
- PAA Luxembourg S.a.r.l. Luxembourg4
- PAA Midstream LLC Delaware4
- PAA Natural Gas Storage, L.P. Delaware4
- PAA Service Corp. Texas4
- PAA/Vulcan Gas Storage, LLC Delaware4
- PMC (Nova Scotia) Company Nova Scotia4
- PNGS GP LLC Delaware4
- POPB NM Crude II LLC Delaware4
- POPBP DE Crude Holdings LLC Delaware4
- Pacific Pipeline System LLC Delaware4
- Plains All American Emergency Relief Fund, Inc. Texas4
- Plains BK Holdco LLC Delaware4
- Plains Canada Liquid Pipelines ULC British Columbia4
- Plains Capline LLC Delaware4
- Plains EF Holdings LLC Delaware4
- Plains Eagle Ford Energy LLC Texas4
- Plains Eagle Ford Gas LLC Texas4
- Plains GP LLC Texas4
- Plains Gas Solutions, LLC Texas4
- Plains LPG Services CA LLC Texas4
- Plains LPG Services GP LLC Delaware4
- Plains LPG Services, L.P. Texas4
- Plains Marketing Bondholder, LLC Delaware4
- Plains Marketing CA LLC Texas4
- Plains Marketing Canada LLC Delaware4
- Plains Marketing, L.P. Texas4
- Plains Midstream Canada ULC British Columbia4
- Plains Midstream Luxembourg S.a.r.l. Luxembourg4
- Plains Midstream Superior LLC Texas4
- Plains Oryx Permian Basin LLC Delaware4
- Plains Oryx Permian Basin Marketing LLC Delaware4
- Plains Oryx Permian Basin Pipeline LLC Delaware4
- Plains Pipeline MidCon LLC Texas4
- Plains Pipeline Montana LLC Delaware4
- Plains Pipeline, L.P. Texas4
- Plains Products Terminals LLC Delaware4
- Plains Rail Holdings LLC Delaware4
- Plains South Texas Gathering LLC Texas4
- Rancho LPG Holdings LLC Delaware4
- Red River Pipeline Company LLC Delaware4
- Rocky Mountain Pipeline Montana LLC Delaware4
- St. James Rail Terminal LLC Delaware4
- Sunrise Pipeline LLC Delaware4
- Western Corridor Pipeline LLC Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 29, 20268-K Executive or director change; Regulation FD disclosure50
- Sep 14, 20268-K Entered a material agreement; New debt or obligation; Other events51
- Sep 10, 20268-K Other events52
- Sep 9, 20268-K Results of operations; Other events53
- Aug 7, 20268-K Completed an acquisition or sale; Regulation FD disclosure54
- Jun 17, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation55
- Jun 2, 20268-K Executive or director change56
- May 22, 20268-K Shareholder vote57
- May 13, 20268-K Executive or director change; Regulation FD disclosure58
- May 12, 20268-K Ended a material agreement; Completed an acquisition or sale; Regulation FD disclosure59
- May 8, 20268-K Results of operations; Regulation FD disclosure60
- Mar 3, 20268-K Entered a material agreement; New debt or obligation61
- Aug 22, 2016New chief executive W. David Duckett becomes CEO13
Calendar
Coming up
- Oct 30, 2026Dividend Ex-dividend; $0.4175 a share; paid 2026-11-13.62
- Nov 6, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.39 a share, on Nov 5, 2025.63
When it reported results
- Sep 9, 2026Reported quarterly or annual results53
- May 8, 2026Reported quarterly or annual results60
- Feb 6, 2026Reported quarterly or annual results64
- Nov 5, 2025Reported quarterly or annual results65
- Aug 8, 2025Reported quarterly or annual results66
- May 9, 2025Reported quarterly or annual results67
- Feb 7, 2025Reported quarterly or annual results68
- Nov 8, 2024Reported quarterly or annual results69
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
215 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 66 major events, 75 insider forms, 14 large holders, 40 other. The latest 20:
- Oct 7, 2026SCHEDULE 13G/A EDGAR
- Oct 7, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Oct 5, 2026SCHEDULE 13G/A EDGAR
- Oct 2, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 29, 20268-K EDGAR
- Sep 16, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 14, 20268-K EDGAR
- Sep 11, 2026424B5 EDGAR
- Sep 10, 2026SCHEDULE 13G/A EDGAR
- Sep 10, 20268-K EDGAR
- Sep 10, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Sep 9, 2026FWP EDGAR
- Sep 9, 2026424B5 EDGAR
- Sep 9, 20268-K EDGAR
- Aug 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 17, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
The 215 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
3 open-market trades by officers, directors and large owners since October 2021: 1 buys and 2 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 29, 2026 | Ziemba Lawrence MichaelDirector | Sale | 2,346 | $21.95 | $51.5K | Form 4 |
| Nov 21, 2023 | Goebel Jeremy L.EVP & CCO | Sale | 35,000 | $15.58 | $545.3K | Form 4 |
| Jun 23, 2022 | McCarthy Kevin SDirector | Buy | 200,000 | $9.81 | $2.0M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ALPS ADVISORS INCSCHEDULE 13G/A, 12 filings Feb 3, 2022 to Oct 7, 202670
- CIBC Private Wealth Group LLCSCHEDULE 13G/A, 2 filings Feb 14, 2025 to Oct 5, 202671
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Willie Chiang, | 65 | $887.5K | $12.3M72 |
| 2025 | Jeremy Goebel, | 48 | $618.8K | $11.6M72 |
| 2025 | Chris Chandler, | 54 | $618.8K | $9.1M72 |
| 2025 | Richard McGee, | 65 | $580.0K | $3.3M72 |
| 2025 | Al Swanson, | 62 | $565.0K | $3.2M72 |
| 2024 | Chairman, Chief ExecutiveOfficer and President | $837.5K | $8.5M72 | |
| 2024 | Executive Vice President andChief Financial Officer | $550.0K | $3.1M72 | |
| 2024 | Executive Vice PresidentGeneral Counsel and Secretary | $550.0K | $3.1M72 | |
| 2023 | Chairman, Chief ExecutiveOfficer and President | $800.0K | $7.5M72 | |
| 2023 | Executive Vice PresidentGeneral Counsel and Secretary | $550.0K | $2.9M72 | |
| 2023 | Executive Vice President andChief Financial Officer | $550.0K | $2.9M72 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Alps Advisors Inc | 70,510,853 | $1.6B | 7.4% | −2,596,217 |
| Invesco Ltd. | 33,326,777 | $741.9M | 0.1% | −58,785 |
| Blackstone Inc. | 20,183,446 | $449.3M | 1.5% | +1,442,644 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 17,708,480 | $394.2M | 0.5% | +656,898 |
| Goldman Sachs Group Inc | 15,960,527 | $355.3M | 0.0% | −580,280 |
| Tortoise Capital Advisors, L.l.c. | 13,603,422 | $302.8M | 3.1% | +2,810,890 |
| Morgan Stanley | 10,887,631 | $242.4M | 0.0% | −513,407 |
| UBS Group AG | 10,572,985 | $235.4M | 0.0% | +1,804,581 |
| Kayne Anderson Capital Advisors LP | 6,191,802 | $137.8M | 2.7% | −8,834 |
| Jpmorgan Chase & Co | 4,968,377 | $109.9M | 0.0% | +1,062,055 |
| Bank Of America Corp /de/ | 3,949,624 | $87.9M | 0.0% | −952,531 |
| CIBC Bancorp USA Inc. | 3,781,949 | $84.2M | 0.1% | +19,960 |
| Fractal Investments LLC | 3,625,784 | $80.7M | 9.3% | No change |
| Berkley W R Corp | 3,184,307 | $70.9M | 3.5% | +500,000 |
| Infrastructure Capital Advisors, LLC | 2,995,408 | $66.7M | 5.2% | −94,584 |
| Miller Howard Investments Inc /ny | 2,992,424 | $66.6M | 1.8% | +190,823 |
| Clearbridge Investments, LLC | 2,670,671 | $59.4M | 0.0% | No change |
| Bnp Paribas Financial Markets | 2,462,778 | $54.8M | 0.0% | −872,347 |
| Brookfield Corp /ON/ | 2,422,915 | $53.9M | 0.1% | −1,268,520 |
| Barclays PLC | 2,334,287 | $52.0M | 0.0% | +1,327 |
| Eagle Global Advisors LLC | 2,200,185 | $49.0M | 1.6% | −65,800 |
| Deutsche Bank Ag\ | 1,883,597 | $41.9M | 0.0% | No change |
| Duff & Phelps Investment Management Co | 1,676,900 | $37.3M | 0.4% | −100,000 |
| Fayez Sarofim & Co | 1,657,477 | $36.9M | 0.1% | No change |
| State Of Wisconsin Investment Board | 1,604,386 | $35.7M | 0.1% | +819,307 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
23 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Oct 3, 2023 | Virginia FoxxRepublican, House | Sale | $15,001 - $50,000 | +11.5% | Report |
| Mar 24, 2023 | Virginia FoxxRepublican, House | Buy | $15,001 - $50,000 | +22.9% | Report |
| Jun 23, 2022 | Virginia FoxxRepublican, House | Sale | $100,001 - $250,000 | −58.1% | Report |
| May 16, 2022 | Virginia FoxxRepublican, House | Buy | $1,001 - $15,000 | +41.9% | Report |
| Feb 15, 2022 | Virginia FoxxRepublican, House | Buy | $1,001 - $15,000 | +63.6% | Report |
| Jan 21, 2022 | Virginia FoxxRepublican, House | Buy | $15,001 - $50,000 | +71.1% | Report |
| Jan 6, 2022 | Mark GreenRepublican, House | Sale | $500,001 - $1,000,000 | −85.6% | Report |
| Dec 29, 2021 | Mark GreenRepublican, House | Buy | $500,001 - $1,000,000 | +112.6% | Report |
| Nov 26, 2021 | Virginia FoxxRepublican, House | Buy | $15,001 - $50,000 | +85.9% | Report |
| Nov 15, 2021 | Virginia FoxxRepublican, House | Buy | $1,001 - $15,000 | +72.4% | Report |
| Aug 16, 2021 | Virginia FoxxRepublican, House | Buy | $1,001 - $15,000 | +85.8% | Report |
| May 17, 2021 | Virginia FoxxRepublican, House | Buy | $1,001 - $15,000 | +54.9% | Report |
| Apr 14, 2021 | Mark GreenRepublican, House | Sale | $250,001 - $500,000 | −87.9% | Report |
| Apr 1, 2021 | Mark GreenRepublican, House | Buy | $15,001 - $50,000 | +81.0% | Report |
| Feb 23, 2021 | Virginia FoxxRepublican, House | Buy | $15,001 - $50,000 | +96.0% | Report |
| Feb 22, 2021 | Mark GreenRepublican, House | Buy | $15,001 - $50,000 | +97.5% | Report |
| Feb 19, 2021 | Mark GreenRepublican, House | Buy | $50,001 - $100,000 | +103.0% | Report |
| Feb 12, 2021 | Mark GreenRepublican, House | Buy | $50,001 - $100,000 | +101.8% | Report |
| Feb 10, 2021 | Virginia FoxxRepublican, House | Buy | $15,001 - $50,000 | +101.9% | Report |
| Jan 19, 2021 | Mark GreenRepublican, House | Buy | $100,001 - $250,000 | +43.5% | Report |
| Apr 15, 2020 | David A Perdue , Jr, Senate | Sale | $15,001 - $50,000 | −110.3% | Report |
| Dec 17, 2019 | David A Perdue , Jr, Senate | Buy | $1,001 - $15,000 | −102.6% | Report |
| Dec 10, 2019 | David A Perdue , Jr, Senate | Buy | $1,001 - $15,000 | −106.5% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How PLAINS ALL AMERICAN PIPELINE LP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPLAINS ALL AMERICAN PIPELINE LP1
- CIK0001070423
- Employer ID (EIN)76-058215073
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company73
- Incorporated inDelaware73
- Fiscal year endsDecember 311
- Industry code (SIC)4610 Pipe Lines (No Natural Gas)1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address333 Clay Street, Suite 1600, Houston, TX 770021
- Phone71365441001
- Shares outstanding705,566,460 as of Jul 31, 202611
- Public float$8.5B as of Jun 30, 202573
- AuditorPricewaterhouseCoopers LLP, Houston, Texas PCAOB ID 238; it also attests to the company’s internal control over financial reporting73
- On EDGAR sinceSep 23, 19981
- Filings1,920 in all: 4 (799), 8-K (534), 10-Q (83), 424B5 (52), 3 (44), 425 (28), 10-K (26), 424B2 (26)1
All 52 form types
FWP (23), SC 13D/A (23), SC 13G/A (22), 424B3 (20), CORRESP (18), EFFECT (18), UPLOAD (17), S-3 (16), 4/A (12), 8-K/A (12), DEF 14A (11), 5 (10), 3/A (9), DEFA14A (9), S-4 (9), SCHEDULE 13G/A (9), 144 (8), S-8 (8), 424B7 (7), S-4/A (7), S-3ASR (6), SC 13G (6), S-1/A (5), SC 13D (5), 10-Q/A (4), ARS (4), S-1 (4), S-3/A (4), SC TO-C (3), 10-K405 (2), 8-A12B (2), 8-A12B/A (2), PRE 14A (2), 10-K/A (1), 10-K405/A (1), 25 (1), 424B1 (1), 424B4 (1), 424B8 (1), CERT (1), CT ORDER (1), POS AM (1), POSASR (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 10, 2026
Proxy statement (DEF 14A) Apr 10, 2026
Latest 8-K (8-K) Sep 29, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Units | PAA | The Nasdaq Global Select Market |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).73
Risk factors and legal proceedings
The risks PLAINS ALL AMERICAN PIPELINE LP names in Item 1A of its 10-K filed Feb 27, 2026: 68 risks under these headings, as written.73
- Risks Related to Our Business
- Risks Related to Laws and Regulations
- Risks Inherent in an Investment in Us
- Risks Related to an Investment in Our Debt Securities
- Tax Risks to Common Unitholders and Series B Preferred Unitholders
- Our profitability depends on the volume of crude oil, natural gas and NGL shipped, processed, purchased, stored, fractionated and/or gathered at or through the use of our pipelines and facilities, which can be negatively impacted by a variety of factors outside of our control.
- Our profitability can be negatively affected by a variety of factors stemming from competition in our industry, including recontracting and other risks associated with the general capacity overbuild of midstream energy infrastructure in some of the areas where we operate.
- Changes in supply and demand for the products we handle, which can be caused by a variety of factors outside of our control, can negatively affect our operating results.
- Natural disasters, catastrophes, terrorist attacks (including eco-terrorist attacks), process safety failures, equipment failures or other events, including pipeline or facility accidents and cyber or other attacks on our electronic and computer systems, could interrupt our operations, hinder our ability to fulfil our contractual obligations and/or result in severe personal injury, property damage and environmental damage, which could have a material adverse effect on our financial position, results of operations and cash flows.
- Our business is highly dependent on the use of information and operations technology systems and the unavailability or ineffectiveness of such systems, whether due to cybersecurity attacks, data breaches, human error or other disruptions affecting us, or our service providers, could materially and adversely affect our business, operations, reputation and financial results.
- Our and our customers’ operations are subject to various risks arising out of the threat of climate change.
- We may face opposition from various groups to the development or operation of our pipelines and facilities and our business may be subject to societal and political pressures.
The other 60 risks
- We are subject to scrutiny by financial stakeholders with respect to the perceived social and environmental cost of our industry and our governance structure, which may adversely impact our ability to raise capital from such investors.
- Our crude oil and NGL merchant activities are influenced by the overall forward market for crude oil and NGL, and certain market structures, the absence of pricing volatility and other market factors may adversely impact our results.
- Acquisitions and divestitures involve risks that may adversely affect our business.
- Joint ventures, joint ownership arrangements and other capital projects pose unique challenges and we may not be able to fully implement or realize synergies, expected returns or other anticipated benefits associated with such projects.
- We may enter into new businesses in connection with our strategy to participate in emerging energy opportunities. If we are unable to execute on this strategy or operate these new lines of business effectively, our future growth could be limited. These new lines of business may never develop or may present risks that we cannot effectively manage.
- We are exposed to the credit risk of our customers and other counterparties we transact with in the ordinary course of our business activities.
- Tightened capital markets or other factors that increase our cost of capital or otherwise limit our access to capital could impair our ability to achieve our strategic objectives.
- Our risk policies cannot eliminate all risks and the insufficiency of, or non-compliance with our risk policies could result in significant financial losses.
- Our insurance coverage may not fully cover our losses and we may in the future encounter increased costs related to, and lack of availability of, insurance.
- Trade tariffs, duties, quotas, inflation, supply disruptions or other factors affecting the commodities and materials we use in our business could have a material and adverse impact on our results of operations, financial condition and cash flows.
- Our business, results of operations, financial condition, cash flows and unit price can be adversely affected by pandemics, epidemics or other public health events.
- Loss of our investment grade credit rating or the ability to receive open credit could negatively affect our borrowing costs, ability to purchase crude oil, NGL and natural gas supplies or to capitalize on market opportunities.
- The terms of our indebtedness may limit our ability to borrow additional funds or capitalize on business opportunities. In addition, our current or future debt levels, or inability to borrow additional funds or capitalize on business opportunities, may limit our future financial and operating flexibility.
- Increases in interest rates could adversely affect our business and the trading price of our units.
- Changes in currency exchange rates could adversely affect our operating results.
- Our business requires the retention and recruitment of a skilled workforce, and difficulties retaining and recruiting our workforce could result in a failure to implement our business plans.
- An impairment of long-term assets could reduce our earnings.
- We are dependent on the use or availability of third-party assets for certain of our operations.
- Significant under-utilization of certain assets could significantly reduce our profitability due to fixed costs incurred to obtain the right to use such assets.
- Many of our assets have been in service for many years and require significant expenditures to maintain them or remove them from service. As a result, our maintenance, repair or asset retirement costs may increase in the future.
- We do not own all of the land on which our pipelines and facilities are located, which could result in disruptions to our operations.
- The pace of development of natural gas infrastructure could have an adverse impact on expected crude oil production growth in the Permian Basin.
- Our operations are subject to laws and regulations relating to protection of the environment (people, property and natural resources), operational safety, climate change and related matters that may expose us to significant costs and liabilities. The current laws and regulations affecting our business are subject to change and in the future we may be subject to additional laws, executive orders and regulations, which could adversely impact our business.
- Our assets are subject to federal, state and provincial regulation. Rate regulation or a successful challenge to the rates we charge on our U.S. and Canadian pipeline systems may reduce the amount of cash we generate.
- Some of our operations cross the U.S./Canada border and are subject to cross-border regulation.
- Our purchases and sales of crude oil, natural gas and NGL, and hedging activities, expose us to potential regulatory risks.
- Existing or future derivatives legislation and regulations could have an adverse impact on our ability to use derivative instruments to reduce the effect of commodity price, interest rate and other risks associated with our business and increase the amount of working capital required to conduct these hedging activities.
- Legislation, executive orders and regulatory initiatives relating to climate change could have a material adverse effect on our business, demand for our services, financial condition, results of operations and cash flows.
- Legislation, executive orders and regulatory initiatives relating to hydraulic fracturing or other hydrocarbon development activities could reduce domestic production of crude oil and natural gas.
- Laws and regulations pertaining to the protection of threatened and endangered species or to critical habitat, wetlands and natural resources could delay, restrict or prohibit our and our customers’ operations and cause us or our customers to incur substantial costs that may have a material adverse effect on our results of operations.
- Cost reimbursements due to our general partner may be substantial and will reduce our cash available for distribution to unitholders.
- Cash distributions are not guaranteed and may fluctuate with our performance and the establishment of financial reserves.
- Our preferred units have rights, preferences and privileges that are not the same as, and are preferential to, the rights of holders of our common units.
- Unitholders may not be able to remove our general partner even if they wish to do so.
- We may issue additional common units without unitholder approval, which would dilute a unitholder’s existing ownership interests.
- Our general partner has a limited call right that may require unitholders to sell their units at an undesirable time or price.
- Unitholders may not have limited liability if a court finds that unitholder actions constitute control of our business and unitholders may have liability to repay distributions under certain circumstances.
- Conflicts of interest could arise among our general partner and us or the unitholders.
- The control of our general partner may be transferred to a third party without unitholder consent. A change of control may result in defaults under certain of our debt instruments and the triggering of payment obligations under compensation arrangements.
- The right to receive payments on our outstanding debt securities is unsecured and will be effectively subordinated to our existing and future secured indebtedness and will be structurally subordinated as to any existing and future indebtedness and other obligations of our subsidiaries, other than subsidiaries that may guarantee our debt securities in the future.
- Our leverage may limit our ability to borrow additional funds, comply with the terms of our indebtedness or capitalize on business opportunities.
- The ability to transfer our debt securities may be limited by the absence of an organized trading market.
- We have a holding company structure in which our subsidiaries conduct our operations and own our operating assets, which may restrict our ability to receive funds from such subsidiaries and make payments on our debt securities.
- We do not have the same flexibility as other types of organizations to accumulate cash, which may limit cash available to service our debt securities or to repay them at maturity.
- Tax Risks to Unitholders
- Our tax treatment depends on our status as a partnership for U.S. federal income tax purposes and not being subject to a material amount of entity-level taxation by individual states or foreign jurisdictions. If the IRS were to treat us as a corporation for U.S. federal income tax purposes, or if we become subject to a material amount of entity-level or other form of taxation for state or foreign tax purposes, our cash available for distributions to our unitholders would be substantially reduced.
- The tax treatment of publicly traded partnerships or an investment in our units could be subject to potential legislative, judicial or administrative changes or differing interpretations, possibly applied on a retroactive basis.
- Non-U.S. unitholders will be subject to U.S. taxes and withholding with respect to their income and gain from owning our units.
- Tax Risks to Common Unitholders
- If the IRS makes audit adjustments to our income tax returns, it (and some states) may assess and collect any taxes (including any applicable penalties and interest) resulting from such audit adjustments directly from us, in which case our cash available for distribution to our unitholders might be substantially reduced.
- If the IRS or CRA contests the federal income tax positions or inter-country allocations we take, the market for our common units may be adversely impacted and the cost of any IRS or CRA contest or incremental taxes paid will reduce our cash available for distribution or debt service.
- Our unitholders may be required to pay taxes on their share of our income even if they do not receive any cash distributions from us.
- Taxable gain or loss on the disposition of our common units could be more or less than expected.
- Unitholders may be subject to limitation on their ability to deduct interest expense incurred by us.
- Tax-exempt entities face unique tax issues from owning our common units that may result in adverse tax consequences to them.
- We treat each purchaser of our common units as having the same tax benefits without regard to the common units actually purchased. The IRS may challenge this treatment, which could adversely affect the value of our common units.
- Our unitholders will likely be subject to state, local and non-U.S. taxes and return filing requirements in states and jurisdictions where they do not live as a result of investing in our units.
- We have adopted certain valuation methodologies in determining a unitholder’s allocations of income, gain, loss and deduction. The IRS may challenge these methodologies or the resulting allocations, which could adversely affect the value of our common units.
- A unitholder whose common units are the subject of a securities loan (e.g., a loan to a “short seller” to cover a short sale of common units) may be considered to have disposed of those common units. If so, such unitholder would no longer be treated for tax purposes as a partner with respect to those common units during the period of the loan and may recognize gain or loss from the disposition.
- We generally prorate our items of income, gain, loss and deduction between transferors and transferees of our units each month based upon the ownership of our units on the first day of each month, instead of on the basis of the date a particular unit is transferred. The IRS may challenge this treatment, which could change the allocation of items of income, gain, loss and deduction among our unitholders.
- Taxable income from our non-U.S. businesses is not eligible for the 20% deduction for qualified publicly traded partnership income.
- Tax Risks to Series B Preferred Unitholders
- Treatment of income attributable to distributions on our Series B Preferred Units as guaranteed payments for the use of capital creates a different tax treatment for the holders of our Series B Preferred Units than the holders of our common units and such income is not eligible for the 20% deduction for qualified publicly traded partnership income.
Legal proceedings
The information required by this item is included in Note 19 to our Consolidated Financial Statements, and is incorporated herein by reference thereto.
The opening of Item 3, Legal Proceedings.73
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2Yahoo FinancePAA quote
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14SEC EDGARW. David Duckett, President
- 15SEC EDGARAl Swanson, Chief financial officer
- 16
- 17
- 18SEC EDGARJeremy L. Goebel, EVP - Commercial
- 19
- 20
- 21
- 22
- 23
- 24SEC EDGARPhil D. Kramer, Exec. Vice President
- 25
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- 29
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- 31
- 32
- 33
- 34
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- 36SEC EDGARJohn Vonberg, Vice President-Trading
- 37SEC EDGARTim Moore, Vice President & Sec.
- 38SEC EDGARCindy B. Taylor, Board member
- 39SEC EDGARAap L.p. Plains, Board member
- 40SEC EDGAROscar B. Brown, Board member
- 41
- 42SEC EDGARW. David Duckett, Board member
- 43SEC EDGART. Geoff McKay, Board member
- 44SEC EDGARVicky Sutil, Board member
- 45SEC EDGARW. Lance Conn, Board member
- 46SEC EDGARDavid N. Capobianco, Board member
- 47SEC EDGAREverardo Goyanes, Board member
- 48SEC EDGARJ. Taft Symonds, Board member
- 49SEC EDGARRichard K. McGee, General counsel
- 50
- 51
- 52SEC EDGAROther events
- 53SEC EDGARResults of operations; Other events
- 54
- 55
- 56SEC EDGARExecutive or director change
- 57SEC EDGARShareholder vote
- 58
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- 62NasdaqNasdaq calendar
- 63NasdaqNasdaq calendar
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