Income StatementBalance SheetCash FlowSegments
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Plains All American Pipeline, L.P. Cash Flow Statement

Operating, investing, and financing cash movements

Plains All American Pipeline, L.P. generated $2.7B in operating cash flow over the trailing twelve months. After $633.0M in capital expenditures, free cash flow was $2.1B. Free cash flow decreased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.7BNet Cash From Investing (TTM)-$2.9BNet Cash From Financing (TTM)-$1.4BCapital Expenditures (TTM)$633.0MDepreciation And Amortization Cf (TTM)$965.0MNet Change In Cash (TTM)-$256.0M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$16.1B
P/E Ratio14.05
ROE8.92%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)—-$19.0M-$13.0M-$15.0M—-$29.0M
Share of Profits (Losses) of Related Party$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Other non-cash income (expense)—-$19.0M-$13.0M-$15.0M—-$29.0M
Change in accounts payable-$14.3M-$83.5M-$83.5M-$83.5M-$83.5M—
Change in inventories-$30.0M-$24.0M-$24.0M-$24.0M-$24.0M—
Other working capital changes—-$19.0M-$13.0M-$15.0M—-$29.0M
Change in receivables-$19.0M-$51.0M-$51.0M-$51.0M-$51.0M—
Deferred income taxes$6.0M$2.0M$3.0M$1.0M$8.0M-$215.0M
Depreciation and amortization$226.0M$232.0M$235.0M$230.0M$257.0M$243.0M
Equity in income of investees$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Distributions from equity method investments$122.0M$125.0M$131.0M$113.0M$117.0M$97.0M
Income (Loss) from Discontinued Operations$74.0M$136.0M$70.0M$76.0M$102.0M-$103.0M
Gain (Loss) on Sale of Assets and Asset Impairment Charges-$157.0M$13.0M-$42.0M$92.0M—$53.0M
Income (Loss) from Discontinued Operations$74.0M$136.0M$70.0M$76.0M$102.0M-$103.0M
Other Non-Cash Income (Expense)—-$19.0M-$13.0M-$15.0M—-$29.0M
Other Non-cash Income (Expense)—-$19.0M-$13.0M-$15.0M—-$29.0M
Income (Loss) from Equity Method Investments$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Other Non-cash Income (Expense)—-$19.0M-$13.0M-$15.0M—-$29.0M
Income (Loss) from Equity Method Investments$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Income (Loss) from Equity Method Investments$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Net cash from operating activities$727.0M$639.0M$694.0M$817.0M$786.0M$418.0M
Net income$119.0M$516.0M$297.0M$529.0M$427.0M$231.0M
Other non-cash income (expense)—-$19.0M-$13.0M-$15.0M—-$29.0M
Net cash provided by operating activities from discontinued operations$88.0M$210.0M$91.0M$13.0M$170.0M$18.0M
Distributions of earnings from equity method investees$122.0M$125.0M$131.0M$113.0M$117.0M$97.0M
Gain (Loss) on Sale of Assets and Asset Impairment Charges-$157.0M$13.0M-$42.0M$92.0M—$53.0M
Gain on investments in unconsolidated entities, net—$31.0M$0.0———
Net income from discontinued operations$74.0M$136.0M$70.0M$76.0M$102.0M-$103.0M
Equity in earnings (losses) of equity method investees$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Increase (Decrease) in Accounts and Other Receivables-$19.0M-$51.0M-$51.0M-$51.0M-$51.0M—
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital—$182.0M—-$158.0M—-$54.0M
Other Noncash Income (Expense)—-$19.0M-$13.0M-$15.0M—-$29.0M
Other Non-cash Income and Expense—-$19.0M-$13.0M-$15.0M—-$29.0M
Other Non-Cash Adjustments—-$19.0M-$13.0M-$15.0M—-$29.0M
Other Non-Cash Income and Expense—-$19.0M-$13.0M-$15.0M—-$29.0M
Income (Loss) from Equity Method Investments$154.0M$103.0M$94.0M$96.0M$90.0M$89.0M
Loss from Discontinued Operations$74.0M$136.0M$70.0M$76.0M$102.0M-$103.0M
Income (Loss) from Discontinued Operations, Net of Tax$74.0M$136.0M$70.0M$76.0M$102.0M-$103.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$104.0M$624.0M$57.0M$184.0M$1.8B$88.0M
Proceeds from Sales of Assets and Subsidiaries$5.0M$3.0M$18.0M$6.0M$54.0M$3.0M
Capital expenditures$106.0M$140.0M$170.0M$185.0M$148.0M$130.0M
Payments to Fund Long-term Loans to Related Parties$157.3M$330.0M————
Net cash used for investing activities from discontinued operations-$61.0M-$52.0M-$54.0M-$45.0M-$46.0M-$16.0M
Payments to Acquire Businesses and Interest in Affiliates$104.0M$624.0M$57.0M$184.0M$1.8B$88.0M
Proceeds from disposition of property, plant and equipment/other$5.0M$3.0M$18.0M$6.0M$54.0M$3.0M
Net cash from investing activities-$264.0M-$1.1B-$274.0M-$408.0M-$1.9B-$233.0M
Proceeds from sale of businesses$5.0M$3.0M$18.0M$6.0M$54.0M$3.0M
Proceeds from sale of PPE and intangibles$5.0M$3.0M$18.0M$6.0M$54.0M$3.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of Lines of Credit$0.0$278.5M$278.5M$278.5M$278.5M—
Proceeds from minority shareholders$17.0M$4.0M$25.0M$5.0M$41.0M—
Net change in commercial paper—$71.0M$0.0-$462.0M$970.0M$116.0M
Contributions from noncontrolling interests$17.0M$4.0M$25.0M$5.0M$41.0M—
Proceeds from issuance of debt$162.5M$998.0M$0.0$1.2B$752.0M—
Distributions to noncontrolling interests$115.0M$132.0M$97.0M$110.0M$108.0M$103.0M
Payments for Repurchase of Preferred Stock and Preference Stock$0.0$333.0M————
Proceeds From Issuance Of Senior Long Term Debt$162.5M$998.0M$0.0$1.2B$752.0M—
Other, net-$5.0M-$17.0M-$5.0M-$42.0M-$20.0M-$4.0M
Proceeds from (repayments of) short-term borrowings, net—$71.0M$0.0-$462.0M$970.0M$116.0M
Net proceeds from sales of subsidiary shares$17.0M$4.0M$25.0M$5.0M$41.0M—
Payment of Deferred Purchase Consideration-$5.0M-$17.0M-$5.0M-$42.0M-$20.0M-$4.0M
Noncontrolling interest transactions and other-$5.0M-$17.0M-$5.0M-$42.0M-$20.0M-$4.0M
Proceeds from related party debt$157.3M$330.0M————
Repayments of Lines of Credit$0.0$278.5M$278.5M$278.5M$278.5M—
Proceeds from Minority Shareholders$17.0M$4.0M$25.0M$5.0M$41.0M—
Proceeds from Sale of Noncontrolling Interests$17.0M$4.0M$25.0M$5.0M$41.0M—
Net cash from financing activities-$747.0M$590.0M—$318.0M$299.0M-$339.0M
Other financing activities-$5.0M-$17.0M-$5.0M-$42.0M-$20.0M-$4.0M
Noncontrolling Interests Activity and Other-$5.0M-$17.0M-$5.0M-$42.0M-$20.0M-$4.0M
Proceeds from Minority Shareholders$17.0M$4.0M$25.0M$5.0M$41.0M—
Repayments of Acquisition Credit Facilities$0.0$278.5M$278.5M$278.5M$278.5M—
Redemption of preferred stock$0.0$333.0M————
Proceeds from Minority Shareholders$17.0M$4.0M$25.0M$5.0M$41.0M—
Repayments of lines of credit$0.0$278.5M$278.5M$278.5M$278.5M—

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$621.0M$499.0M$524.0M$632.0M$638.0M$288.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$6.0M-$1.0M$9.0M$5.0M$1.0M-$3.0M
Net increase (decrease) in cash-$292.0M$79.0M$32.0M$721.0M-$852.0M-$157.0M
Cash Paid Related To Purchases Of Linefill$0.0$6.0M$11.0M$0.0$10.0M$2.0M
Borrowing under term loan (Note 11)$0.0$275.0M$275.0M$275.0M$275.0M—

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$33.0M$27.0M$21.0M$32.0M$18.0M$28.0M
Interest paid$112.0M$128.0M$126.0M$128.0M$134.0M$183.0M
Income Taxes Paid, Net$33.0M$27.0M$21.0M$32.0M$18.0M$28.0M