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Plains All American Pipeline, L.P. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Plains All American Pipeline, L.P. holds $31.6B in total assets. Shareholders' equity is $12.8B against $12.0B in total debt. Cash and equivalents total $171.0M. The current ratio is 0.942 and debt-to-equity is 0.936. Based on the Q1 2026 filing.

Total Assets$31.6BTotal Stockholders Equity$12.8BLong Term Debt$11.4BCash And Equivalents$171.0MTotal Current Assets$6.2BTotal Current Liabilities$6.5B
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$16.1B
P/E Ratio14.05
ROE8.92%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts payable$3.6B$3.7B$3.4B$3.6B$3.5B$4.9B
Commercial Paper Outstanding$90.0M$78.0M$81.0M$70.0M$95.0M$118.0M
Contract liabilities$87.0M$192.0M$77.0M$66.0M$87.0M$47.0M
Other accrued liabilities$546.0M$488.0M$527.0M$488.0M$529.0M$634.0M
Current portion of long-term debt$407.0M$478.0M$475.0M$1.0B$563.0M$420.0M
Deferred revenue—$472.0M$289.0M$138.0M—$481.0M
Derivative liabilities$22.0M$96.0M$3.0M$36.0M$19.0M-$88.0M
Finance Lease Liability, Current$14.0M———$9.0M—
Liabilities held for sale$350.0M—$313.0M$283.0M$382.0M$561.0M
Note payable to DIRECTV$546.0M$488.0M$527.0M$488.0M$529.0M$634.0M
Total current liabilities$5.0B$4.7B$4.7B$5.4B$4.9B$6.5B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accounts receivable, net$7.3B$8.3B$8.2B$7.8B$7.4B$11.3B
Assets held for sale$415.0M—$385.0M$434.0M$479.0M$602.0M
Cash and cash equivalents$348.0M$427.0M$459.0M$1.2B$328.0M$171.0M
Contract assets$3.9B$3.9B$3.8B$3.8B$3.6B$5.4B
Other current assets$99.0M$153.0M$131.0M$162.0M$117.0M$190.0M
Inventories$242.0M$289.0M$234.0M$227.0M$214.0M$315.0M
Net Derivative Assets/(Liabilities) After Master Netting————$4.0M$191.0M
Prepaid expenses and other current assets$99.0M$153.0M$131.0M$162.0M$117.0M$190.0M
Total current assets$4.8B$4.7B$4.7B$5.6B$4.7B$6.2B

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Tax Assets and Other Non-Current Assets$142.0M$244.0M$107.0M$109.0M$107.0M$150.0M
Equity method investments$2.8B$2.7B$2.7B$2.9B$2.8B$2.8B
Intangible assets, net$1.7B$1.7B$1.6B$1.6B$1.8B$1.7B
Net Investment in Lease$189.0M$321.0M$182.0M$184.0M$198.0M$197.0M
Intangible assets — net$1.7B$1.7B$1.6B$1.6B$1.8B$1.7B
Linefill$904.0M$988.0M$940.0M$933.0M$900.0M$876.0M
Operating lease right-of-use assets$189.0M$321.0M$182.0M$184.0M$198.0M$197.0M
Other non-current assets$142.0M$244.0M$107.0M$109.0M$107.0M$150.0M
Property, plant and equipment, net$13.4B$16.1B$14.2B$14.1B$16.9B$16.9B
Operating lease right-of-use assets$189.0M$321.0M$182.0M$184.0M$198.0M$197.0M
Operating Lease Right-of-Use Assets in Other Assets$189.0M$321.0M$182.0M$184.0M$198.0M$197.0M
Other non-current assets$142.0M$244.0M$107.0M$109.0M$107.0M$150.0M
Accumulated depreciation$5.1B$6.1B$5.4B$5.5B$5.7B$5.8B
Total property and equipment, gross$18.5B$22.1B$19.6B$19.7B$22.5B$22.7B
Property and equipment, net$13.4B$16.1B$14.2B$14.1B$16.9B$16.9B
Software and Technology Licenses, Net$142.0M$244.0M$107.0M$109.0M$107.0M$150.0M
Total assets$26.6B$27.1B$27.2B$28.1B$30.2B$31.6B

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Long-term debt$7.6B$8.7B$8.7B$9.4B$11.3B$11.4B
Long-Term Debt and Finance Lease Obligations$7.2B$8.2B$8.2B$8.4B$10.7B$11.0B
Operating lease liabilities, non-current$192.0M$301.0M$190.0M$188.0M$202.0M$202.0M
Other non-current liabilities$537.0M$1.0B$535.0M$523.0M$654.0M$449.0M
Total noncurrent liabilities$8.5B$9.5B$9.5B$9.7B$12.2B$12.3B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Noncontrolling interests$3.3B$3.2B$3.2B$3.2B$3.2B$3.2B
Total liabilities and stockholders' equity$26.6B$27.1B$27.2B$28.1B$30.2B$31.6B
Total stockholders' equity$13.1B$12.9B$12.9B$13.0B$13.1B$12.8B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Contract With Customer, Contractual Rights Of Offset With Counterparties$7.6B$8.4B$8.5B$8.1B$7.4B$11.9B
Contract with Customer, Liability$87.0M$192.0M$77.0M$66.0M$87.0M$47.0M
Short-term debt and current portion of long-term debt$407.0M$478.0M$475.0M$1.0B$563.0M$420.0M
Deferred (gain) loss on accumulated other comprehensive income (loss), net of tax—————-$28.0M
Net fair value————$4.0M$191.0M
Derivative Liability, Subject to Master Netting Arrangement, Collateral, Right to Reclaim Cash Offset$22.0M$96.0M$3.0M$36.0M$19.0M-$88.0M
Equity method investments (Note 11)$2.8B$2.7B$2.7B$2.9B$2.8B$2.8B
Current maturities of long-term debt$14.0M———$9.0M—
Initial margin$16.0M$66.0M$9.0M$45.0M$16.0M$82.0M
Inventory, Current and Noncurrent$1.4B$1.6B$1.3B$1.3B$1.3B$1.6B
Letters of Credit Outstanding, Amount$90.0M$78.0M$81.0M$70.0M$95.0M$118.0M
Liabilities of discontinued operations (Note 2)$576.0M—$598.0M$597.0M$606.0M$665.0M
Long-Term Debt and Lease Obligation$7.2B$8.2B$8.2B$8.4B$10.7B$11.0B
Partners Capital$9.8B$9.6B$9.7B$9.8B$9.8B$9.6B
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied—$472.0M$289.0M$138.0M—$481.0M
Senior Long Term Notes$7.1B$8.1B$8.1B$8.4B$9.1B$9.1B
Variation margin posted/(returned)$15.0M$59.0M-$6.0M-$8.0M$4.0M-$152.0M