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Plains All American Pipeline, L.P. (PAA)
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Plains All American Pipeline, L.P. Balance Sheet 2025-2006 | PAA
Brief balance sheet overview of Plains All American Pipeline, L.P.
Balance sheet changes are traced across five available annual reports between 2016 and 2020.
Assets ended near their starting level at $24.5 billion versus $24.2 billion. This was preservation of scale rather than expansion.
Assets and liabilities changed at similar rates, +1.2% and -4.1%. The funding mix did not shift sharply.
Shareholders' equity accounts for 39.2% of assets, previously 36.2%. Dependence on liabilities is moderate.
Each unit of equity supports about 1.05x of net debt. The level is not critical, though flexibility is narrower.
Cash equals 0.1% of the balance sheet, compared with 0.2% five periods ago. This is the readily available cushion.
What the balance sheet shows
Plains All American Pipeline, L.P.'s balance sheet is broadly resilient, though selected areas require monitoring. The balance between assets, equity and liabilities remains the key issue.
Annual Balance Sheet Plains All American Pipeline, L.P.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
10.4 B | 6.89 B | 6.92 B | 6.96 B | 7.95 B | 10.1 B | 9.65 B | 9.14 B | 9.88 B | 11.8 B | 11.3 B | 9.65 B | 7.79 B | 7.38 B | 5.17 B | 4.6 B | 4.12 B | - | - | - |
Long Term Debt |
10.7 B | 7.21 B | 7.3 B | 7.29 B | 8.4 B | 9.31 B | 9.19 B | 9.14 B | 9.18 B | 10.1 B | 10.4 B | 8.76 B | 6.72 B | 6.32 B | 4.52 B | 4.63 B | 4.14 B | - | - | - |
Long Term Debt Current |
27 M | 30 M | 69 M | 71 M | - | 78 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
12.2 B | 8.52 B | 8.62 B | 8.68 B | 9.57 B | 10.5 B | 10.5 B | 10.1 B | 9.86 B | 10.7 B | 10.9 B | 9.31 B | 7.25 B | 6.91 B | 4.9 B | 4.92 B | 4.42 B | 3.52 B | - | - |
Total Current Liabilities |
4.93 B | 4.95 B | 5 B | 5.89 B | 6.23 B | 4.25 B | 5.02 B | 3.46 B | 4.53 B | 4.66 B | 3.41 B | 4.76 B | 5.41 B | 5.18 B | 4.51 B | 4.22 B | 3.78 B | 2.96 B | - | - |
Total Liabilities |
- | - | - | - | - | 14.8 B | 15.5 B | 13.5 B | 14.4 B | 15.4 B | 14.3 B | 14.1 B | 12.7 B | 12.1 B | 9.41 B | 9.13 B | 8.2 B | - | - | - |
Total Assets |
30.2 B | 26.6 B | 27.4 B | 27.9 B | 28.6 B | 24.5 B | 28.7 B | 25.5 B | 25.4 B | 24.2 B | 22.3 B | 22.3 B | 20.4 B | 19.2 B | 15.4 B | 13.7 B | 12.4 B | 10 B | - | - |
Cash and Cash Equivalents |
328 M | 348 M | 450 M | 401 M | 449 M | 22 M | 45 M | 66 M | 37 M | 47 M | 27 M | 403 M | 41 M | 24 M | 26 M | 36 M | 25 M | 11 M | 24 M | 11 M |
Book Value |
30.2 B | 26.6 B | 27.4 B | 27.9 B | 28.6 B | 9.74 B | 13.2 B | 12 B | 11 B | 8.82 B | 7.94 B | 8.19 B | 7.7 B | 7.15 B | 5.97 B | 4.57 B | 4.16 B | 10 B | - | - |
Total Shareholders Equity |
9.84 B | 9.81 B | 10.4 B | 10.1 B | 9.97 B | 9.59 B | 13.1 B | 12 B | 11 B | 8.76 B | 7.88 B | 8.13 B | 7.64 B | 6.64 B | 5.45 B | 4.34 B | 4.1 B | 3.55 B | - | - |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet Plains All American Pipeline, L.P.
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
11 B | 8.44 B | 8.2 B | 8.2 B | 7.21 B | 7.21 B | 7.31 B | 7.3 B | 7.29 B | 7.29 B | - | - | 7.99 B | 7.99 B | 8.4 B | 8.39 B | 8.39 B | 9.34 B | 9.38 B | 9.38 B | 9.38 B | 9.38 B | 9.19 B | 9.19 B | 9.19 B | 9.19 B | 9.14 B | 9.14 B | 9.14 B | 9.14 B | 9.18 B | 9.18 B | 9.18 B | 9.18 B | 10.1 B | 10.1 B | 10.1 B | 10.1 B | 10.4 B | 10.4 B | 10.4 B | 10.4 B | 8.7 B | 8.76 B | 8.76 B | 8.76 B | 6.72 B | 6.72 B | 6.72 B | 6.72 B | 6.32 B | 6.32 B | 6.32 B | 5.79 B | 4.52 B | 4.5 B | 5 B | 4.98 B | - | - | - | - | - |
Total Non Current Liabilities |
12.3 B | 9.75 B | 9.53 B | 9.51 B | 8.49 B | 8.47 B | 8.57 B | 8.58 B | 8.65 B | 8.61 B | - | - | 9.29 B | 9.22 B | 9.57 B | 9.5 B | 9.59 B | 10.6 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 10.5 B | 10.1 B | 10.1 B | 10.1 B | 10.1 B | 9.86 B | 9.86 B | 9.86 B | 9.86 B | 10.7 B | 10.7 B | 10.7 B | 10.7 B | 10.9 B | 10.9 B | 10.9 B | 10.9 B | 9.25 B | 9.31 B | 9.31 B | 9.31 B | 7.25 B | 7.25 B | 7.25 B | 7.25 B | 6.91 B | 6.91 B | 6.91 B | 6.91 B | 4.9 B | 4.9 B | 4.9 B | 4.9 B | 4.83 B | 4.58 B | 4.4 B | 4.41 B | 3.64 B |
Total Liabilities |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 9.23 B | 9.33 B | - | - | - | - | - |
Total Assets |
31.6 B | 28.1 B | 27.2 B | 27.1 B | 27.2 B | 27.5 B | 27.4 B | 27.7 B | 26.9 B | 27.5 B | - | - | 28.9 B | 30.6 B | 28.6 B | 24.2 B | 25.4 B | 25.3 B | 24.5 B | 24.5 B | 24.5 B | 24.5 B | 28.7 B | 28.7 B | 28.7 B | 28.7 B | 25.5 B | 25.5 B | 25.5 B | 25.5 B | 25.4 B | 25.4 B | 25.4 B | 25.4 B | 24.2 B | 24.2 B | 24.2 B | 24.2 B | 22.3 B | 22.3 B | 22.3 B | 22.3 B | 22.2 B | 22.3 B | 22.3 B | 22.3 B | 20.3 B | 20.4 B | 20.4 B | 20.4 B | 19.2 B | 19.2 B | 19.2 B | 19.2 B | 15.4 B | 15.4 B | 15.4 B | 15.4 B | 12.7 B | 12.4 B | 12.1 B | 11.5 B | 10.6 B |
Cash and Cash Equivalents |
171 M | 1.18 B | 459 M | 427 M | 640 M | 553 M | 331 M | 260 M | 933 M | 526 M | - | - | 267 M | 114 M | 449 M | 191 M | 31 M | 30 M | 60 M | 22 M | 22 M | 22 M | 45 M | 45 M | 45 M | 45 M | 66 M | 66 M | 66 M | 66 M | 37 M | 37 M | 37 M | 37 M | 47 M | 47 M | 47 M | 47 M | 27 M | 27 M | 27 M | 27 M | 403 M | 403 M | 403 M | 403 M | 41 M | 41 M | 41 M | 41 M | 24 M | 24 M | 24 M | 24 M | 26 M | 26 M | 26 M | 26 M | 13 M | 15 M | 16 M | 16 M | 7 M |
Book Value |
31.6 B | 28.1 B | 27.2 B | 27.1 B | 27.2 B | 27.5 B | 27.4 B | 27.7 B | 26.9 B | 27.5 B | - | - | 28.9 B | 30.6 B | 28.6 B | 24.2 B | 25.4 B | 25.3 B | 24.5 B | 24.5 B | 24.5 B | 24.5 B | 28.7 B | 28.7 B | 28.7 B | 28.7 B | 25.5 B | 25.5 B | 25.5 B | 25.5 B | 25.4 B | 25.4 B | 25.4 B | 25.4 B | 24.2 B | 24.2 B | 24.2 B | 24.2 B | 22.3 B | 22.3 B | 22.3 B | 22.3 B | 22.2 B | 22.3 B | 22.3 B | 22.3 B | 20.3 B | 20.4 B | 20.4 B | 20.4 B | 19.2 B | 19.2 B | 19.2 B | 19.2 B | 15.4 B | 15.4 B | 6.15 B | 6.05 B | 12.7 B | 12.4 B | 12.1 B | 11.5 B | 10.6 B |
Total Shareholders Equity |
9.6 B | 9.76 B | 9.71 B | 9.63 B | 10.2 B | 10.3 B | 10.3 B | 10.3 B | 10.4 B | 10.2 B | - | - | 9.93 B | 10 B | 9.97 B | 9.15 B | 9.5 B | 9.94 B | 9.59 B | 9.59 B | 9.59 B | 9.59 B | 13.1 B | 13.1 B | 13.1 B | 13.1 B | 12 B | 12 B | 12 B | 12 B | 11 B | -753 M | 11 B | 11 B | -1.01 B | -1.08 B | 8.76 B | 8.76 B | -1.08 B | 7.88 B | 7.88 B | 7.88 B | 8.13 B | 8.13 B | 8.13 B | 8.13 B | 7.64 B | 7.64 B | 7.64 B | 7.64 B | 6.64 B | 6.64 B | 6.64 B | 6.64 B | 5.45 B | 5.45 B | 5.45 B | 5.45 B | 4.11 B | 4.18 B | 4.15 B | 4.16 B | 3.64 B |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of Plains All American Pipeline, L.P., providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.