Plains All American Pipeline, L.P. (PAA)
NASDAQ: PAA · Real-Time Price · USD
23.46
-0.46 (-1.92%)
Nov 9, 2026, 1:59 PM EST - Market open
PAA Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 2,687 | 1,435 | 772 | 1,230 | 1,037 | 593 |
Depreciation & Amortization | 978 | 953 | 901 | 909 | 965 | 774 |
Loss (Gain) From Sale of Assets | 34 | -44 | 19 | -140 | -61 | -103 |
Asset Writedown & Restructuring Costs | -2 | -2 | 140 | -12 | 330 | 695 |
Loss (Gain) From Sale of Investments | 68 | -31 | -15 | -28 | -346 | -2 |
Loss (Gain) on Equity Investments | 77 | 104 | 53 | 89 | 85 | 157 |
Stock-Based Compensation | 49 | 49 | 50 | 50 | 40 | 23 |
Other Operating Activities | -221 | 22 | 177 | 114 | 549 | 86 |
Change in Accounts Receivable | 204 | 204 | 76 | 79 | 649 | -2,179 |
Change in Inventory | 96 | 96 | 120 | 102 | -10 | -18 |
Change in Accounts Payable | -334 | -334 | -57 | -141 | -830 | 1,970 |
Operating Cash Flow | 2,828 | 2,936 | 2,490 | 2,727 | 2,408 | 1,996 |
Operating Cash Flow Growth | -1.70% | 17.91% | -8.69% | 13.25% | 20.64% | 31.84% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -643 | -643 | -448 | -408 | -455 | -336 |
Sale of Property, Plant & Equipment | 81 | 81 | 11 | 328 | 60 | 881 |
Cash Acquisitions | -2,651 | -2,651 | -248 | -425 | -149 | -32 |
Investment in Securities | -2 | -2 | -4 | -33 | -14 | -94 |
Other Investing Activities | 4,280 | -554 | -815 | -164 | 32 | -33 |
Investing Cash Flow | 1,065 | -3,769 | -1,504 | -702 | -526 | 386 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | 907 | 629 | 433 | - | - |
Long-Term Debt Issued | - | 4,098 | 650 | - | - | - |
Total Debt Issued | 5,005 | 5,005 | 1,279 | 433 | - | - |
Short-Term Debt Repaid | - | - | -40 | - | - | -545 |
Long-Term Debt Repaid | - | -2,114 | -750 | -1,100 | -750 | -367 |
Total Debt Repaid | -2,114 | -2,114 | -790 | -1,100 | -750 | -912 |
Net Debt Issued (Repaid) | 2,891 | 2,891 | 489 | -667 | -750 | -912 |
Repurchase of Common Stock | -71 | -71 | - | - | -74 | -178 |
Preferred Dividends Paid | -225 | -225 | -254 | -241 | -198 | -198 |
Common Dividends Paid | -1,070 | -1,070 | -891 | -748 | -584 | -517 |
Dividends Paid | -1,295 | -1,295 | -1,145 | -989 | -782 | -715 |
Other Financing Activities | -5,433 | -456 | -421 | -320 | -325 | -179 |
Financing Cash Flow | -4,178 | 799 | -1,077 | -1,976 | -1,931 | -1,984 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -16 | 14 | -11 | - | -3 | -5 |
Net Cash Flow | -301 | -20 | -102 | 49 | -52 | 393 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 2,185 | 2,293 | 2,042 | 2,319 | 1,953 | 1,660 |
Free Cash Flow Growth | -4.00% | 12.29% | -11.95% | 18.74% | 17.65% | 113.92% |
Free Cash Flow Margin | 3.91% | 5.18% | 4.18% | 4.90% | 3.41% | 3.94% |
Free Cash Flow Per Share | 3.10 | 3.26 | 2.91 | 3.32 | 2.79 | 2.32 |
Levered Free Cash Flow | 489.75 | 757.88 | 1,075 | 1,295 | 1,410 | 1,052 |
Unlevered Free Cash Flow | 871 | 1,104 | 1,344 | 1,536 | 1,663 | 1,318 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 516 | 516 | 381 | 377 | 393 | 401 |
Cash Income Tax Paid | 98 | 98 | 269 | 69 | 112 | 76 |
Change in Working Capital | 136 | -34 | 139 | 40 | -191 | -227 |