v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
REVENUES      
Total revenues $ 44,262 $ 48,889 $ 47,336
COSTS AND EXPENSES      
Purchases and related costs 40,433 45,162 43,937
Field operating costs 1,154 1,471 1,085
General and administrative expenses 342 328 299
Depreciation and amortization 953 901 909
(Gains)/losses on asset sales, asset impairments and other, net (Note 7, Note 8) (54) 159 (152)
Total costs and expenses 42,828 48,021 46,078
OPERATING INCOME 1,434 868 1,258
OTHER INCOME/(EXPENSE)      
Equity earnings in unconsolidated entities 382 452 369
Gain on investments in unconsolidated entities, net (Note 8, Note 9) 31 15 28
Interest expense (net of capitalized interest of $11, $9 and $10, respectively) (554) (430) (386)
Other income, net 108 64 102
INCOME FROM CONTINUING OPERATIONS BEFORE TAX 1,401 969 1,371
Current income tax expense from continuing operations (1) (82) (70)
Deferred income tax (expense)/benefit from continuing operations (14) (5) 9
INCOME FROM CONTINUING OPERATIONS, NET OF TAX 1,386 882 1,310
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX (NOTE 3) 383 231 192
NET INCOME 1,769 1,113 1,502
Net income attributable to noncontrolling interests (334) (341) (272)
NET INCOME ATTRIBUTABLE TO PAA 1,435 772 1,230
Common Units      
NET INCOME PER COMMON UNIT (NOTE 5):      
Net income allocated to common unitholders — Basic : Continuing operations 786 283 784
Net income allocated to common unitholders — Diluted: Continuing operations 786 283 784
Net income allocated to common unitholders — Basic : Discontinued operations 383 231 192
Net income allocated to common unitholders — Diluted : Discontinued operations 383 231 192
Net income allocated to common unitholders — Basic 1,169 514 976
Net income allocated to common unitholders — Diluted $ 1,169 $ 514 $ 976
Basic weighted average common units outstanding (in units) 704 702 699
Diluted weighted average common units outstanding (in units) 704 702 699
Basic net income per common unit: continuing operations (usd per unit) $ 1.12 $ 0.40 $ 1.12
Diluted net income per common unit: continuing operations (usd per unit) 1.12 0.40 1.12
Basic net income per common unit: discontinuing operations (usd per unit) 0.54 0.33 0.28
Diluted net income per common unit: discontinuing operations (usd per unit) 0.54 0.33 0.28
Basic net income per common unit (usd per unit) 1.66 0.73 1.40
Diluted net income per common unit (usd per unit) $ 1.66 $ 0.73 $ 1.40
Product sales revenues      
REVENUES      
Total revenues $ 42,501 $ 47,199 $ 45,745
Services revenues      
REVENUES      
Total revenues $ 1,761 $ 1,690 $ 1,591