What does NGL — transaction-related expenses mean?

These are one-time costs associated with acquisitions, divestitures, or restructuring activities within the NGL segment. They are typically excluded from adjusted EBITDA to provide a clearer view of recurring operational performance.

Plains All American Pipeline, L.P. PAA NGL — Transaction-Related Expenses

Similar metrics at other companies

PAGPNGL — Purchases and related costs

$33M+3.1%

PAGPNGL — Significant Segment Expenses

$48M+4.3%

PAGPNGL — General And Administrative Expense (Excluding Unallocated Amount)

$5M-16.7%

PAGPNGL — Investments in unconsolidated entities

$0—

PAGPNGL — Other revenues

$0—

PAGPNGL — Segment Reporting, Other Segment Item, Amount

$0—

Other financials

Income statement

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Revenue$12.5B+8.7%

Gross profit$977.0M+1.8%

Operating income$405.0M+13.8%

Net income$152.0M-65.7%

Balance sheet

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Cash & equivalents$171.0M-60.0%

Total debt$12.0B+26.8%

Total equity$12.8B-0.3%

Total assets$31.6B+16.9%

Cash flow

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Operating cash flow$418.0M-34.6%

CapEx$130.0M-7.1%

Free cash flow$288.0M-42.3%

Valuation

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Market cap$17.14B+31.1%

Enterprise value$28.96B+31.9%

P/E15×+0.6×

P/S0.4×+0.1×

Profitability

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Gross margin8.5%+0.8pp

Operating margin3.3%+1.5pp

Net margin2.5%+0.6pp

FCF margin4.6%-0.1pp

Returns & leverage

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Return on equity8.9%+1.8pp

Debt / equity0.9×+0.2×

Current ratio0.9×-0.1×

Where this comes from

Reported directly by Plains All American Pipeline, L.P. in its filing.

Tagged under the XBRL concept paa:TransactionRelatedExpenses.

The official record: Plains All American Pipeline, L.P.’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Plains All American Pipeline, L.P.'s NGL — transaction-related expenses?: Plains All American Pipeline, L.P. (PAA) reported NGL — transaction-related expenses of $0 in Q4 2025.
What does NGL — transaction-related expenses mean?: These are one-time costs associated with acquisitions, divestitures, or restructuring activities within the NGL segment. They are typically excluded from adjusted EBITDA to provide a clearer view of recurring operational performance.