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Plains All American Pipeline, L.P. logo

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$15.8B
P/E Ratio13.82
ROE8.92%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)—-$19M-$13M-$15M—-$29M
Share of Profits (Losses) of Related Party$154M$103M$94M$96M$90M$89M
Other non-cash income (expense)—-$19M-$13M-$15M—-$29M
Change in accounts payable-$14.3M-$83.5M-$83.5M-$83.5M-$83.5M—
Change in inventories-$30M-$24M-$24M-$24M-$24M—
Other working capital changes—-$19M-$13M-$15M—-$29M
Change in receivables-$19M-$51M-$51M-$51M-$51M—
Deferred income taxes$6M$2M$3M$1M$8M-$215M
Depreciation and amortization$226M$232M$235M$230M$257M$243M
Equity in income of investees$154M$103M$94M$96M$90M$89M
Distributions from equity method investments$122M$125M$131M$113M$117M$97M
Income (Loss) from Discontinued Operations$74M$136M$70M$76M$102M-$103M
Gain (Loss) on Sale of Assets and Asset Impairment Charges-$157M$13M-$42M$92M—$53M
Income (Loss) from Discontinued Operations$74M$136M$70M$76M$102M-$103M
Other Non-Cash Income (Expense)—-$19M-$13M-$15M—-$29M
Other Non-cash Income (Expense)—-$19M-$13M-$15M—-$29M
Income (Loss) from Equity Method Investments$154M$103M$94M$96M$90M$89M
Other Non-cash Income (Expense)—-$19M-$13M-$15M—-$29M
Income (Loss) from Equity Method Investments$154M$103M$94M$96M$90M$89M
Income (Loss) from Equity Method Investments$154M$103M$94M$96M$90M$89M
Net cash from operating activities$727M$639M$694M$817M$786M$418M
Net income$119M$516M$297M$529M$427M$231M
Other non-cash income (expense)—-$19M-$13M-$15M—-$29M
Net cash provided by operating activities from discontinued operations$88M$210M$91M$13M$170M$18M
Distributions of earnings from equity method investees$122M$125M$131M$113M$117M$97M
Gain (Loss) on Sale of Assets and Asset Impairment Charges-$157M$13M-$42M$92M—$53M
Gain on investments in unconsolidated entities, net—$31M$0———
Net income from discontinued operations$74M$136M$70M$76M$102M-$103M
Equity in earnings (losses) of equity method investees$154M$103M$94M$96M$90M$89M
Increase (Decrease) in Accounts and Other Receivables-$19M-$51M-$51M-$51M-$51M—
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital—$182M—-$158M—-$54M
Other Noncash Income (Expense)—-$19M-$13M-$15M—-$29M
Other Non-cash Income and Expense—-$19M-$13M-$15M—-$29M
Other Non-Cash Adjustments—-$19M-$13M-$15M—-$29M
Other Non-Cash Income and Expense—-$19M-$13M-$15M—-$29M
Income (Loss) from Equity Method Investments$154M$103M$94M$96M$90M$89M
Loss from Discontinued Operations$74M$136M$70M$76M$102M-$103M
Income (Loss) from Discontinued Operations, Net of Tax$74M$136M$70M$76M$102M-$103M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$104M$624M$57M$184M$1.8B$88M
Proceeds from Sales of Assets and Subsidiaries$5M$3M$18M$6M$54M$3M
Capital expenditures$106M$140M$170M$185M$148M$130M
Payments to Fund Long-term Loans to Related Parties$157.3M$330M————
Net cash used for investing activities from discontinued operations-$61M-$52M-$54M-$45M-$46M-$16M
Payments to Acquire Businesses and Interest in Affiliates$104M$624M$57M$184M$1.8B$88M
Proceeds from disposition of property, plant and equipment/other$5M$3M$18M$6M$54M$3M
Net cash from investing activities-$264M-$1.1B-$274M-$408M-$1.9B-$233M
Proceeds from sale of businesses$5M$3M$18M$6M$54M$3M
Proceeds from sale of PPE and intangibles$5M$3M$18M$6M$54M$3M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Repayments of Lines of Credit$0$278.5M$278.5M$278.5M$278.5M—
Proceeds from minority shareholders$17M$4M$25M$5M$41M—
Net change in commercial paper—$71M$0-$462M$970M$116M
Contributions from noncontrolling interests$17M$4M$25M$5M$41M—
Proceeds from issuance of debt$162.5M$998M$0$1.2B$752M—
Distributions to noncontrolling interests$115M$132M$97M$110M$108M$103M
Payments for Repurchase of Preferred Stock and Preference Stock$0$333M————
Proceeds From Issuance Of Senior Long Term Debt$162.5M$998M$0$1.2B$752M—
Other, net-$5M-$17M-$5M-$42M-$20M-$4M
Proceeds from (repayments of) short-term borrowings, net—$71M$0-$462M$970M$116M
Net proceeds from sales of subsidiary shares$17M$4M$25M$5M$41M—
Payment of Deferred Purchase Consideration-$5M-$17M-$5M-$42M-$20M-$4M
Noncontrolling interest transactions and other-$5M-$17M-$5M-$42M-$20M-$4M
Proceeds from related party debt$157.3M$330M————
Repayments of Lines of Credit$0$278.5M$278.5M$278.5M$278.5M—
Proceeds from Minority Shareholders$17M$4M$25M$5M$41M—
Proceeds from Sale of Noncontrolling Interests$17M$4M$25M$5M$41M—
Net cash from financing activities-$747M$590M—$318M$299M-$339M
Other financing activities-$5M-$17M-$5M-$42M-$20M-$4M
Noncontrolling Interests Activity and Other-$5M-$17M-$5M-$42M-$20M-$4M
Proceeds from Minority Shareholders$17M$4M$25M$5M$41M—
Repayments of Acquisition Credit Facilities$0$278.5M$278.5M$278.5M$278.5M—
Redemption of preferred stock$0$333M————
Proceeds from Minority Shareholders$17M$4M$25M$5M$41M—
Repayments of lines of credit$0$278.5M$278.5M$278.5M$278.5M—

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$621M$499M$524M$632M$638M$288M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$6M-$1M$9M$5M$1M-$3M
Net increase (decrease) in cash-$292M$79M$32M$721M-$852M-$157M
Cash Paid Related To Purchases Of Linefill$0$6M$11M$0$10M$2M
Borrowing under term loan (Note 11)$0$275M$275M$275M$275M—

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$33M$27M$21M$32M$18M$28M
Interest paid$112M$128M$126M$128M$134M$183M
Income Taxes Paid, Net$33M$27M$21M$32M$18M$28M