Plains All American Pipeline LP Files 2023 Annual Report (10-K)

TL;DR

<b>Plains All American Pipeline LP has filed its 2023 10-K annual report.</b>

AI Summary

PLAINS ALL AMERICAN PIPELINE LP (PAAPU) filed a Annual Report (10-K) with the SEC on February 29, 2024. Filed 10-K for the fiscal year ended December 31, 2023. Company name: Plains All American Pipeline LP. Standard Industrial Classification: Pipe Lines (No Natural Gas) [4610]. Incorporated in Delaware. Business and mailing address: 333 Clay Street, Suite 1600, Houston, TX 77002.

Why It Matters

For investors and stakeholders tracking PLAINS ALL AMERICAN PIPELINE LP, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operational status for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, risks, and strategic direction.

Risk Assessment

Risk Level: medium — PLAINS ALL AMERICAN PIPELINE LP shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the specific financial details and risk factors within the report will determine the overall risk level.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Plains All American Pipeline LP's current financial health and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-02-29 — Filing Date (Date of submission)
• 149 — Public Document Count (Number of documents in the filing)
• 760582150 — IRS Number (Company's IRS identification number)

Key Players & Entities

• PLAINS ALL AMERICAN PIPELINE LP (company) — Filer name
• PAAPU (company) — Ticker symbol
• 333 CLAY STREET SUITE 1600 (company) — Business address
• HOUSTON (company) — Business address city
• TX (company) — Business address state
• 77002 (company) — Business address zip
• DE (company) — State of incorporation
• 2023-12-31 (date) — Fiscal year end

FAQ

Industry Context

Plains All American Pipeline LP operates in the energy infrastructure sector, focusing on the transportation, storage, and terminaling of crude oil and natural gas liquids.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and management.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and debt levels.
2. Review the risk factors section for potential operational and market challenges.
3. Examine management's discussion and analysis for strategic insights and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Defines the reporting period for the 10-K.
• 2024-02-29: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted. A comparison to a previous filing would require data from a prior period.

Key Financial Figures

• $14.10 — .4 billion, based on a closing price of $14.10 per Common Unit as reported on the Nasd
• $14.4 b — gregate purchase price of approximately $14.4 billion, implemented investment capital p
• $17.7 b — capital projects totaling approximately $17.7 billion, returned $18.2 billion to our eq
• $18.2 billion — g approximately $17.7 billion, returned $18.2 billion to our equity holders, primarily in the
• $4.9 billion — since 2016 we have completed more than $4.9 billion of divestitures of non-core assets and/

Filing Documents

• paa-20231231.htm (10-K) — 3604KB
• paa202310-kexhibit416.htm (EX-4.16) — 54KB
• paa202310-kexhibit211.htm (EX-21.1) — 37KB
• paa202310-kexhibit231.htm (EX-23.1) — 3KB
• paa202310-kexhibit311.htm (EX-31.1) — 10KB
• paa202310-kexhibit312.htm (EX-31.2) — 10KB
• paa202310-kexhibit321.htm (EX-32.1) — 4KB
• paa202310-kexhibit322.htm (EX-32.2) — 4KB
• paa202310-kexhibit971.htm (EX-97.1) — 29KB
• paa-20231231_g1.jpg (GRAPHIC) — 80KB
• paa-20231231_g2.jpg (GRAPHIC) — 1069KB
• paa-20231231_g3.jpg (GRAPHIC) — 30KB
• paa-20231231_g4.jpg (GRAPHIC) — 37KB
• paa-20231231_g5.jpg (GRAPHIC) — 101KB
• paa-20231231_g6.jpg (GRAPHIC) — 100KB
• 0001070423-24-000008.txt (&nbsp;) — 22036KB
• paa-20231231.xsd (EX-101.SCH) — 123KB
• paa-20231231_cal.xml (EX-101.CAL) — 149KB
• paa-20231231_def.xml (EX-101.DEF) — 924KB
• paa-20231231_lab.xml (EX-101.LAB) — 1397KB
• paa-20231231_pre.xml (EX-101.PRE) — 1130KB
• paa-20231231_htm.xml (XML) — 3209KB

Risk Factors

Risk Factors 37 Item 1B. Unresolved Staff Comments 65 Item 1C. Cybersecurity 65 Item 3.

Legal Proceedings

Legal Proceedings 66 Item 4. Mine Safety Disclosures 66 PART II 67 Item 5. Market for Registrant's Common Units, Related Unitholder Matters and Issuer Purchases of Equity Securities 67 Item 6. Reserved 68 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 68 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 92 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 93 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 93 Item 9A.

Controls and Procedures

Controls and Procedures 93 Item 9B. Other Information 94 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 94 PART III 95 Item 10. Directors and Executive Officers of Our General Partner and Corporate Governance 95 Item 11.

Executive Compensation

Executive Compensation 95 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Unitholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Unitholder Matters 95 Item 13. Certain Relationships and Related Transactions, and Director Independence 96 Item 14. Principal Accountant Fees and Services 96 PART IV 97 Item 15. Exhibits and Financial Statement Schedules 97 Item 16. Form 10-K Summary 102 2 Table of Contents Index to Financial Statement s

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS All statements included in this report, other than statements of historical fact, are forward-looking statements, including but not limited to statements incorporating the words "anticipate," "believe," "estimate," "expect," "plan," "intend" and "forecast," as well as similar expressions and statements regarding our business strategy, plans and objectives for future operations. The absence of such words, expressions or statements, however, does not mean that the statements are not forward-looking. Any such forward-looking statements reflect our current views with respect to future events, based on what we believe to be reasonable assumptions. Certain factors could cause actual results or outcomes to differ materially from the results or outcomes anticipated in the forward-looking statements. The most important of these factors include, but are not limited to: general economic, market or business conditions in the United States and elsewhere (including the potential for a recession or significant slowdown in economic activity levels, the risk of persistently high inflation and continued supply chain issues, the impact of global public health events, such as pandemics, on demand and growth, and the timing, pace and extent of economic recovery) that impact (i) demand for crude oil, drilling and production activities and therefore the demand for the midstream services we provide and (ii) commercial opportunities available to us; declines in global crude oil demand and crude oil prices (whether due to global public health events, such as pandemics, or other factors) or other factors that correspondingly lead to a significant reduction of North American crude oil and natural gas liquids ("NGL") production (whether due to reduced producer cash flow to fund drilling activities or the inability of producers to access capital, or both, the unavailability of pipeline and/or storage capacity, the shutting-in of production by producers, government-m

View Full Filing

View this 10-K filing on SEC EDGAR