PLAINS GP HOLDINGS LP

Listed Company

PAGPCIK 0001581990NasdaqLarge AcceleratedPipe Lines (No Natural Gas)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$44.26B

Net Income

$260.00M

Total Assets

$31.28B

Equity

—

Shares Out

197.90M

Op. Cash Flow

$2.93B

PAGP$25.61+29.93% · past yearDBEQ Basic

Daily closing prices

Business

Plains GP Holdings LP is a publicly traded Delaware limited partnership that owns a limited partner interest in Plains All American Pipeline, L.P. (PAA), one of North America's largest crude oil midstream service providers. The company operates extensive networks of crude oil and NGL transportation pipelines, terminalling, storage and gathering assets across key producing basins and demand centers in the United States and Canada. PAA's business segments are Crude Oil and NGL; the company is divesting its Canadian NGL Business to Keyera Corp in a transaction expected to close in early 2026.

Summary from 10-K filed 2026-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	44,262	48,889	47,336	57,342	42,078
Purchases and related costs	40,433	45,162	43,937	53,176	38,504
Field operating costs	1,154	1,471	1,085	1,315	1,065
General and administrative expenses	348	334	305	330	298
Depreciation and amortization	953	901	912	968	777
(Gains)/losses on asset sales, asset impairments and other, net (Note 7, Note 8)	−54	159	−152	269	592
Total costs and expenses	42,834	48,027	46,087	56,058	41,236
OPERATING INCOME	1,428	862	1,249	1,284	842
Equity earnings in unconsolidated entities	382	452	369	403	274
Gain on investments in unconsolidated entities, net (Note 8, Note 9)	31	15	28	346	2
Interest expense (net of capitalized interest of $11, $9 and $10, respectively)	−467	−382	−386	−405	—
Other income, net	21	16	102	−219	19
INCOME FROM CONTINUING OPERATIONS BEFORE TAX	1,395	963	1,362	1,409	712
Current income tax expense from continuing operations	−1	−82	−70	−84	−50
Deferred income tax expense from continuing operations	−91	−42	−59	−162	−62
INCOME FROM CONTINUING OPERATIONS, NET OF TAX	1,303	839	1,233	—	—
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 3)	383	231	192	—	—
NET INCOME	1,686	1,070	1,425	1,163	600
Net income attributable to noncontrolling interests from continuing operations	−1,151	−800	−1,089	—	—
Net income attributable to noncontrolling interests from discontinued operations	−275	−167	−138	—	—
Net income attributable to noncontrolling interests	−1,426	−967	−1,227	−995	−540
Net income attributable to PAGP from continuing operations	152	39	144	—	—
Net income attributable to PAGP from discontinued operations	108	64	54	—	—
Net income attributable to PAGP	260	103	198	168	60

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	329	349	453	404	452
Trade accounts receivable and other receivables, net	3,598	3,679	3,760	3,907	4,705
Inventory	211	261	548	729	783
Current assets of discontinued operations (Note 3)	479	415	—	—	—
Other current assets	87	72	155	318	200
Total current assets	4,704	4,776	4,916	5,358	6,140
PROPERTY AND EQUIPMENT	22,536	18,528	21,143	20,055	19,292
Accumulated depreciation	−5,676	−5,082	−5,361	−4,802	−4,383
Property and equipment, net	16,860	13,446	15,782	15,253	14,909
Investments in unconsolidated entities	2,846	2,811	2,820	3,084	3,805
Intangible assets, net	1,754	1,677	1,875	2,145	1,960
Deferred tax asset	1,136	1,220	1,239	1,309	1,362
Linefill	900	904	976	961	907
Long-term operating lease right-of-use assets, net	198	189	313	349	393
Long-term inventory	214	242	265	284	253
Long-term assets of discontinued operations (Note 3)	2,557	2,349	—	—	—
Other long-term assets, net	107	142	411	464	249
Total assets	31,276	27,756	28,597	29,207	29,978
Trade accounts payable	3,457	3,647	3,845	4,045	4,811
Short-term debt	563	407	446	1,159	822
Current liabilities of discontinued operations (Note 3)	382	350	—	—	—
Other current liabilities	500	520	714	689	601
Total current liabilities	4,902	4,924	5,005	5,893	6,234
Senior notes, net	9,118	7,141	7,242	7,237	8,329
Other long-term debt, net	1,578	70	63	50	69
Long-term operating lease liabilities	202	192	274	308	339
Long-term liabilities of discontinued operations (Note 3)	606	576	—	—	—
Other long-term liabilities and deferred credits	654	537	1,041	1,081	830
Total long-term liabilities	12,158	8,516	8,620	8,676	9,567
COMMITMENTS AND CONTINGENCIES (NOTE 19)	—	—	—	—	—
Noncontrolling interests	12,871	12,965	13,424	13,114	12,644
Total partners capital	14,216	14,316	14,972	14,638	14,177
Total liabilities and partners capital	31,276	27,756	28,597	29,207	29,978

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Equity-indexed compensation expense	50	52	51	41	24
(Gain)/loss on foreign currency revaluation	13	−12	3	41	−7
Settlement of terminated interest rate hedging instruments (Note 13)	37	57	80	42	—
Change in fair value of Preferred Distribution Rate Reset Option (Note 13)	0	0	−58	−189	−14
Distributions on earnings from unconsolidated entities	486	505	458	488	431
Other	15	17	18	16	29
Trade accounts receivable and other	207	94	79	649	−2,179
Inventory	96	120	102	−10	−18
Trade accounts payable and other	−337	−77	−141	−830	1,970
Cash provided by operating activities - continuing operations	2,447	2,230	2,247	—	—
Cash provided by operating activities - discontinued operations	484	254	475	—	—
Net cash provided by operating activities	2,931	2,484	2,722	2,404	1,991
Cash paid in connection with acquisitions, net of cash acquired (Note 8)	−2,651	−248	−425	−149	−32
Investments in unconsolidated entities (Note 9)	−2	−4	−33	−14	−94
Additions to property, equipment and other	−643	−448	−408	−455	−336
Cash paid for purchases of linefill	−27	−21	−10	−84	−37
Proceeds from sales of assets (Note 8)	81	11	328	60	881
Other investing activities	—	5	8	44	1
Cash used in investing activities - continuing operations	−3,242	−705	−540	—	—
Cash used in investing activities - discontinued operations	−197	−170	−162	—	—
Net cash used in investing activities	−3,439	−875	−702	−526	386
Net borrowings/(repayments) under PAA commercial paper program (Note 11)	577	−40	433	—	−545
Repayment under PAA EPIC credit agreement (Note 11)	−1,114	0	0	—	—
Borrowing under PAA term loan (Note 11)	1,100	0	0	—	—
Proceeds from the issuance of PAA senior notes (Note 11)	2,998	650	0	—	—
Repayments of PAA senior notes (Note 11)	−1,000	−750	−1,100	−750	—
Repurchase of common units by a subsidiary (Note 12)	−8	0	—	—	—
Repurchase of Series A preferred units by a subsidiary (Note 12)	−333	0	0	—	—
Distributions paid to Class A shareholders (Note 12)	−301	−251	−209	−162	−140
Distributions paid to noncontrolling interests (Note 12)	−1,441	−1,319	−1,113	−918	−589
Contributions from noncontrolling interests	75	57	106	26	1
Other financing activities	−79	−49	−88	−49	−161
Net cash provided by/(used in) financing activities	474	−1,702	−1,971	−1,927	−1,979
Effect of translation adjustment - continuing operations	14	−13	3	−3	−5
Effect of translation adjustment - discontinued operations	0	2	−3	—	—
Net increase/(decrease) in cash and cash equivalents and restricted cash	−20	−104	49	−52	393
Interest, net of amounts capitalized	431	351	377	393	401
Income taxes, net of amounts refunded (Note 15)	98	269	69	112	76

Filings

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Frequently asked questions

What is PLAINS GP HOLDINGS LP's CIK number?

PLAINS GP HOLDINGS LP's SEC CIK number is 0001581990 (1581990). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find PLAINS GP HOLDINGS LP's SEC filings?

All of PLAINS GP HOLDINGS LP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did PLAINS GP HOLDINGS LP last report earnings?

PLAINS GP HOLDINGS LP (PAGP) most recently filed an earnings 8-K with the SEC on May 8, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001581990-26-000015). This is PLAINS GP HOLDINGS LP's most recent earnings filing of record — not a forecast of its next earnings date.

What is PLAINS GP HOLDINGS LP's most recent earnings 8-K?

PLAINS GP HOLDINGS LP's latest earnings 8-K (Item 2.02) was filed May 8, 2026 under accession 0001581990-26-000015. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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