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+9.7% | $10.51B-12.1% | $11.56B-7.3% | $10.66B-16.3% | $11.44B-1.2% | |
| NGL | $41M0.0% | $59M-27.2% | $24M+20.0% | $26M+4.0% | $41M-93.5% | |
| Other revenues by Business | ||||||
| Crude Oil | $104M+235% | $23M-67.1% | $22M+196% | -$33M-283% | $31M+520% | |
| NGL | $0— | $1M-98.9% | $0— | $0— | $0+100% | |
| Significant Segment Expenses by Business | ||||||
| Crude Oil | $11.95B+10.0% | $9.88B-14.8% | $10.93B-9.0% | $10.1B-17.0% | $10.86B-1.3% | |
| NGL | $48M+4.3% | $69M-9.2% | $34M-2.9% | $36M0.0% | $46M-90.0% | |
| Segment Reporting, Other Segment Item, Amount by Business | ||||||
| Crude Oil | -$109M+12.1% | -$110M— | -$135M-414% | -$40M+60.4% | -$124M-3.3% | |
| NGL | $0— | $0— | $0— | $0— | $0-100% | |
| Segment Adjusted EBITDA by Business | ||||||
| Crude Oil | $582M+4.1% | $611M+7.4% | $593M+2.8% | $580M+0.7% | $559M+1.1% | |
| NGL | -$7M-40.0% | -$10M+93.5% | -$10M+33.3% | -$10M+9.1% | -$5M-103% | |
| Purchases and related costs by Business | ||||||
| Crude Oil | $11.58B+10.4% | $9.52B-13.6% | $10.57B-8.3% | $9.74B-17.6% | $10.49B-1.7% | |
| NGL | $33M+3.1% | $56M-9.7% | $18M-5.3% | $22M+4.8% | $32M-90.8% | |
| General and administrative expenses by Business | ||||||
| Crude Oil | $76M-3.8% | $85M+13.3% | $74M-5.1% | $75M+4.2% | $79M+8.2% | |
| NGL | $5M-16.7% | $6M-14.3% | $9M+12.5% | $7M0.0% | $6M-73.9% | |
| Deficiencies under minimum volume commitments, net by Business | ||||||
| Crude Oil | -$32M-357% | -$17M+58.5% | -$6M-140% | -$9M-229% | -$7M+41.7% | |
| Depreciation And Amortization Of Unconsolidated Entities by Business | ||||||
| Crude Oil | $20M0.0% | $22M-12.0% | $21M-4.5% | $20M+17.6% | $20M+5.3% | |
| NGL | $0— | —— | $0— | $0— | —— | |
| Gains (Losses) From Derivative Activities and Inventory Valuation Adjustments by Business | ||||||
| Crude Oil | -$130M-642% | $21M— | $30M+131% | -$52M-1,400% | $24M+165% | |
| NGL | $0-100% | -$10M— | $0— | $0— | $10M+108% | |
| Equity-indexed compensation expense by Business | ||||||
| Crude Oil | $10M+11.1% | $9M+12.5% | $10M+11.1% | $8M-20.0% | $9M0.0% | |
| Investments in unconsolidated entities by Business | ||||||
| Crude Oil | $2.84B+3.4% | $2.85B+1.2% | $2.87B— | $2.71B— | $2.75B— | |
| NGL | $0— | $0— | $0— | $0— | —— | |
| Field operating costs by Business | ||||||
| Crude Oil | $291M-0.3% | $274M-45.4% | $281M-29.8% | $279M+2.6% | $292M+9.8% | |
| NGL | $10M+25.0% | $7M0.0% | $7M-12.5% | $7M-12.5% | $8M-91.3% | |
| Maintenance capital expenditures by Business | ||||||
| Crude Oil | $35M+12.9% | $43M-10.4% | $36M-25.0% | $43M+4.9% | $31M-32.6% | |
| NGL | $0-100% | $1M— | $0-100% | $1M-50.0% | $2M-81.8% | |
| Long-term inventory costing adjustments by Business | ||||||
| Crude Oil | -$112M— | $18M— | $10M-70.6% | $17M+325% | $0+100% | |
| NGL | $0+100% | $3M— | $0— | $0— | -$3M+40.0% | |
| Total revenues by Product | ||||||
| Product sales revenues | $256M-48.6% | $368M+8.2% | $139M-46.7% | $181M+27.5% | $498M+59.6% | |
| Services revenues | $38M+5.6% | $29M+7.4% | $37M+42.3% | $30M-11.8% | $36M-14.3% | |
| Revenues from related parties by Product | ||||||
| Product sales revenues | $12.03B+8.9% | $10.11B-12.8% | $11.15B-7.2% | $10.2B-17.4% | $11.05B-4.3% | |
| Services revenues | $444M+3.0% | $452M+2.3% | $428M-1.6% | $445M+9.6% | $431M-4.0% | |
| Revenue from contracts with customers by Product | ||||||
| Terminalling, Storage and Other | $96M+9.1% | $93M-7.0% | $86M-14.9% | $89M-8.2% | $88M-22.1% | |
| Transportation | $338M+8.3% | —— | $337M+5.0% | $340M+15.3% | $312M+0.6% | |
| Remaining performance obligation by Product | ||||||
| Pipeline revenues supported by minimum volume commitments and capacity agreements | $837M— | $835M+73.2% | —— | —— | —— | |
| Terminalling, storage and other agreement revenues | $426M-43.3% | $423M-43.4% | $492M-38.6% | $488M-31.1% | $751M+6.1% |
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.
