Plains All American Pipeline, L.P. (PAA) quarterly cash flow statement — complete operating, investing & financing history
Plains All American Pipeline, L.P. (PAA) cash flow statement — 29-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 955M | 418M | 785M | 817M | 694M | 639M | 727M | 691M | 653M | 419M | 1.01B | 85M | 888M | 743M | 334M | 942M | 792M | 340M | 635M | 335M |
| Operating CF Margin % | 5.4% | 3.38% | 7.43% | 7.06% | 6.52% | 5.32% | 5.86% | 5.42% | 5.12% | 3.49% | 7.96% | 0.7% | 7.65% | 6.02% | 2.58% | 6.57% | 4.84% | 2.48% | 4.89% | 3.11% |
| Operating CF Growth % | 37.61% | -34.59% | 7.98% | 18.23% | 6.28% | 52.51% | -28.09% | 712.94% | -26.46% | -43.61% | 202.69% | -90.98% | 12.12% | 118.53% | -47.4% | 181.19% | 237.02% | -57.02% | 146.12% | 18.79% |
| Net Income | 1.93B | 231M | 240M | 454M | 91M | 516M | 120M | 220M | 288M | 266M | 399M | 203M | 349M | 475M | 263M | 442M | 251M | 225M | 496M | -55M |
| Depreciation & Amortization | 243M | 243M | 257M | 230M | 204M | 262M | 257M | 258M | 195M | 254M | 272M | 261M | 259M | 256M | 254M | 238M | 243M | 230M | 223M | 177M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9M | 0 | 9M | 0 | 10M | 0 | 10M | 16M | 9M | 8M | 0 | 0 | 0 |
| Deferred Taxes | -7M | -215M | 8M | 1M | 1M | 4M | -7M | 25M | 34M | -39M | -2M | -37M | 23M | 8M | 0 | 97M | 18M | 2M | 50M | -38M |
| Other Non-Cash Items | -1.45B | 105M | 332M | -26M | 399M | -4M | 126M | 135M | 166M | 121M | 34M | 91M | 126M | -204M | -788M | 138M | 118M | 5M | 25M | 290M |
| Working Capital Changes | 245M | 54M | -52M | 158M | -1M | -139M | 231M | 44M | -30M | -192M | 308M | -443M | 131M | 198M | 589M | 18M | 154M | -122M | -159M | -39M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 649M | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10M | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 3.33B | -233M | -1.9B | -408M | -274M | -1.15B | -264M | -822M | -157M | -261M | -258M | -438M | -164M | 158M | -235M | -168M | -42M | -81M | -92M | 761M |
| Capital Expenditures | -138M | -130M | -148M | -185M | -119M | -191M | -166M | -157M | -76M | -157M | -155M | -137M | -145M | -122M | -143M | -122M | -89M | -101M | -79M | -75M |
| CapEx % of Revenue | 0.78% | 1.05% | 1.4% | 1.6% | 1.12% | 1.59% | 1.34% | 1.23% | 0.6% | 1.31% | 1.22% | 1.14% | 1.25% | 0.99% | 1.1% | 0.85% | 0.54% | 0.74% | 0.61% | 0.7% |
| Acquisitions | -42M | -88M | -1.72B | -184M | -57M | -624M | -103M | -63M | -20M | -76M | -141M | -298M | -15M | -4M | -81M | -67M | -1M | -3M | -16M | -7M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 3.52B | -15M | 301M | -39M | -98M | -334M | 5M | -601M | -61M | -25M | 38M | -3M | -4M | 284M | -11M | 21M | 48M | 23M | 3M | 843M |
| Cash from Financing | -3.39B | -339M | 258M | 318M | -408M | 590M | -747M | 215M | -272M | -273M | -567M | -308M | -325M | -776M | -323M | -412M | -599M | -597M | -277M | -933M |
| Debt Issued (Net) | -2.94B | 116M | 1.04B | 786M | -2M | 1.4B | -357M | 629M | 110M | 107M | -267M | 0 | 0 | -400M | 0 | -115M | -267M | -368M | 1M | -587M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | -333M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -49M | -25M | -61M | -64M |
| Dividends Paid | -346M | -348M | -322M | -321M | -321M | -331M | -287M | -286M | -285M | -287M | -251M | -249M | -247M | -242M | -213M | -190M | -215M | -164M | -189M | -167M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -49M | -25M | -61M | -64M |
| Other Financing | -107M | -107M | -458M | -147M | -85M | -145M | -103M | -128M | -97M | -93M | -49M | -59M | -78M | -134M | -110M | -107M | -68M | -40M | -28M | -115M |
| Net Change in Cash | 888M | -157M | -852M | 721M | 32M | 79M | -292M | 87M | 222M | -119M | 190M | -673M | 407M | 125M | -222M | 356M | 149M | -335M | 259M | 163M |
| Free Cash Flow | 817M | 288M | 638M | 632M | 575M | 448M | 561M | 534M | 577M | 262M | 856M | -52M | 743M | 621M | 191M | 820M | 703M | 239M | 556M | 260M |
| FCF Margin % | 4.62% | 2.33% | 6.04% | 5.46% | 5.4% | 3.73% | 4.52% | 4.19% | 4.52% | 2.18% | 6.74% | -0.43% | 6.4% | 5.03% | 1.47% | 5.72% | 4.3% | 1.75% | 4.28% | 2.41% |
| FCF Growth % | 42.09% | -35.71% | 13.73% | 18.35% | -0.35% | 70.99% | -34.46% | 1126.92% | -22.34% | -57.81% | 348.17% | -106.34% | 5.69% | 159.83% | -65.65% | 215.38% | 368.67% | -65.56% | 341.27% | 75.68% |
| FCF per Share | 1.16 | 0.41 | 0.90 | 0.90 | 0.82 | 0.64 | 0.80 | 0.76 | 0.82 | 0.37 | 1.22 | -0.07 | 1.06 | 0.89 | 0.27 | 1.17 | 1.00 | 0.34 | 0.78 | 0.36 |
| FCF Conversion (FCF/Net Income) | 0.52x | 2.75x | 2.30x | 1.85x | 3.30x | 1.44x | 20.19x | 3.14x | 2.61x | 1.58x | 3.24x | 0.42x | 3.03x | 1.76x | 1.27x | 2.45x | 3.90x | 1.82x | 1.41x | -5.68x |
| Interest Paid | 131M | 183M | 134M | 128M | 126M | 128M | 112M | 74M | 131M | 64M | 130M | 59M | 123M | 65M | 125M | 67M | 127M | 74M | 136M | 63M |
| Taxes Paid | 25M | 28M | 18M | 32M | 21M | 27M | -236M | 43M | 107M | 86M | 41M | 20M | 0 | 0 | 0 | 46M | 16M | 23M | 44M | 5M |