Plains All American Pipeline, L.P. PAA Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue from contracts with customers by Business | ||||||
| Crude Oil | $12.55B+19.4% | $10.51B-9.1% | $11.56B+8.5% | $10.66B-6.9% | $11.44B-4.3% | |
| NGL | $41M-30.5% | $59M+146% | $24M-7.7% | $26M-36.6% | $41M-49.4% | |
| Other revenues by Business | ||||||
| Crude Oil | $104M+352% | $23M+4.5% | $22M+167% | -$33M-206% | $31M-55.7% | |
| NGL | $0-100% | $1M— | $0— | $0— | $0-100% | |
| Significant Segment Expenses by Business | ||||||
| Crude Oil | $11.95B+20.9% | $9.88B-9.6% | $10.93B+8.2% | $10.1B-7.0% | $10.86B-6.4% | |
| NGL | $48M-30.4% | $69M+103% | $34M-5.6% | $36M-21.7% | $46M-39.5% | |
| Segment Reporting, Other Segment Item, Amount by Business | ||||||
| Crude Oil | -$109M+0.9% | -$110M+18.5% | -$135M-238% | -$40M+67.7% | -$124M— | |
| NGL | $0— | $0— | $0— | $0— | $0— | |
| Segment Adjusted EBITDA by Business | ||||||
| Crude Oil | $582M-4.7% | $611M+3.0% | $593M+2.2% | $580M+3.8% | $559M-1.8% | |
| NGL | -$7M+30.0% | -$10M0.0% | -$10M0.0% | -$10M-100% | -$5M+96.8% | |
| Purchases and related costs by Business | ||||||
| Crude Oil | $11.58B+21.6% | $9.52B-9.9% | $10.57B+8.5% | $9.74B-7.1% | $10.49B-4.8% | |
| NGL | $33M-41.1% | $56M+211% | $18M-18.2% | $22M-31.3% | $32M-48.4% | |
| General and administrative expenses by Business | ||||||
| Crude Oil | $76M-10.6% | $85M+14.9% | $74M-1.3% | $75M-5.1% | $79M+5.3% | |
| NGL | $5M-16.7% | $6M-33.3% | $9M+28.6% | $7M+16.7% | $6M-14.3% | |
| Deficiencies under minimum volume commitments, net by Business | ||||||
| Crude Oil | -$32M-88.2% | -$17M-183% | -$6M+33.3% | -$9M-28.6% | -$7M+82.9% | |
| Gains (Losses) From Derivative Activities and Inventory Valuation Adjustments by Business | ||||||
| Crude Oil | -$130M-719% | $21M-30.0% | $30M+158% | -$52M-317% | $24M— | |
| NGL | $0+100% | -$10M— | $0— | $0-100% | $10M— | |
| Depreciation And Amortization Of Unconsolidated Entities by Business | ||||||
| Crude Oil | $20M-9.1% | $22M+4.8% | $21M+5.0% | $20M0.0% | $20M-20.0% | |
| NGL | $0— | —— | $0— | $0— | —— | |
| Equity-indexed compensation expense by Business | ||||||
| Crude Oil | $10M+11.1% | $9M-10.0% | $10M+25.0% | $8M-11.1% | $9M+12.5% | |
| Investments in unconsolidated entities by Business | ||||||
| Crude Oil | $2.84B-0.3% | $2.85B-0.9% | $2.87B+6.1% | $2.71B-1.3% | $2.75B-2.3% | |
| NGL | $0— | $0— | $0— | $0— | —— | |
| Field operating costs by Business | ||||||
| Crude Oil | $291M+6.2% | $274M-2.5% | $281M+0.7% | $279M-4.5% | $292M-41.8% | |
| NGL | $10M+42.9% | $7M0.0% | $7M0.0% | $7M-12.5% | $8M+14.3% | |
| Maintenance capital expenditures by Business | ||||||
| Crude Oil | $35M-18.6% | $43M+19.4% | $36M-16.3% | $43M+38.7% | $31M-35.4% | |
| NGL | $0-100% | $1M— | $0-100% | $1M-50.0% | $2M— | |
| Long-term inventory costing adjustments by Business | ||||||
| Crude Oil | -$112M-722% | $18M+80.0% | $10M-41.2% | $17M— | $0— | |
| NGL | $0-100% | $3M— | $0— | $0+100% | -$3M— | |
| Total revenues by Product | ||||||
| Product sales revenues | $256M-30.4% | $368M+165% | $139M-23.2% | $181M-63.7% | $498M+46.5% | |
| Services revenues | $38M+31.0% | $29M-21.6% | $37M+23.3% | $30M-16.7% | $36M+33.3% | |
| Revenues from related parties by Product | ||||||
| Product sales revenues | $12.03B+18.9% | $10.11B-9.3% | $11.15B+9.3% | $10.2B-7.7% | $11.05B-4.7% | |
| Services revenues | $444M-1.8% | $452M+5.6% | $428M-3.8% | $445M+3.2% | $431M-2.5% | |
| Revenue from contracts with customers by Product | ||||||
| Terminalling, Storage and Other | $96M+3.2% | $93M+8.1% | $86M-3.4% | $89M+1.1% | $88M-12.0% | |
| Transportation | $338M— | —— | $337M-0.9% | $340M+9.0% | $312M— | |
| Remaining performance obligation by Product | ||||||
| Pipeline revenues supported by minimum volume commitments and capacity agreements | $837M+0.2% | $835M— | —— | —— | —— | |
| Terminalling, storage and other agreement revenues | $426M+0.7% | $423M-14.0% | $492M+0.8% | $488M-35.0% | $751M+0.4% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Plains All American Pipeline, L.P. break its business down?
- Plains All American Pipeline, L.P. (PAA) reports revenue from contracts with customers by business across 2 parts — Crude Oil and NGL. Each is extracted from the segment footnotes and tracked over time.
- Where does Plains All American Pipeline, L.P.'s segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Plains All American Pipeline, L.P.'s SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
