2013 Q3 Form 10-Q Financial Statement

#000110465913061163 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $10.70B $10.30B $9.786B
YoY Change 14.42% 5.2% 10.46%
Cost Of Revenue $10.24B $9.731B $9.148B
YoY Change 16.1% 6.37% 8.57%
Gross Profit $408.0M $485.0M $557.0M
YoY Change -12.45% -12.93% 52.6%
Gross Profit Margin 3.81% 4.71% 5.69%
Selling, General & Admin $79.00M $91.00M $89.00M
YoY Change -2.47% 2.25% 21.92%
% of Gross Profit 19.36% 18.76% 15.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.00M $91.00M $86.00M
YoY Change -56.19% 5.81% 36.51%
% of Gross Profit 22.55% 18.76% 15.44%
Operating Expenses $172.0M $181.0M $175.0M
YoY Change 3.61% 3.43% 28.68%
Operating Profit $296.0M $383.0M $462.0M
YoY Change 19.84% -17.1% 55.03%
Interest Expense $72.00M $75.00M $75.00M
YoY Change -2.7% 0.0% 20.97%
% of Operating Profit 24.32% 19.58% 16.23%
Other Income/Expense, Net $3.000M -$1.000M $0.00
YoY Change -25.0% -100.0%
Pretax Income $246.0M $318.0M $396.0M
YoY Change 32.26% -19.7% 63.64%
Income Tax $9.000M $18.00M $10.00M
% Of Pretax Income 3.66% 5.66% 2.53%
Net Earnings $231.0M $292.0M $378.0M
YoY Change 40.0% -22.75% 68.0%
Net Earnings / Revenue 2.16% 2.84% 3.86%
Basic Earnings Per Share
Diluted Earnings Per Share $669.6K $832.4K $1.163M
COMMON SHARES
Basic Shares Outstanding 342.7M shares 339.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.00M $55.00M $12.00M
YoY Change 3.13% 358.33% -47.83%
Cash & Equivalents $33.00M $16.00M $12.00M
Short-Term Investments $39.00M
Other Short-Term Assets $352.0M $430.0M $318.0M
YoY Change 147.89% 35.22% 186.49%
Inventory $1.198B $892.0M $1.172B
Prepaid Expenses
Receivables $3.562B $3.503B $3.174B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.145B $4.841B $4.676B
YoY Change 6.9% 3.53% 0.93%
LONG-TERM ASSETS
Property, Plant & Equipment $10.61B $10.18B $9.244B
YoY Change 13.47% 10.14% 18.13%
Goodwill $2.519B $2.503B $2.112B
YoY Change 18.88% 18.51%
Intangibles
YoY Change
Long-Term Investments $474.0M $442.0M $193.0M
YoY Change 64.01% 129.02% -1.03%
Other Assets $534.0M $543.0M $291.0M
YoY Change -13.45% 86.6% 113.97%
Total Long-Term Assets $15.12B $14.58B $13.13B
YoY Change 13.07% 11.07% 27.72%
TOTAL ASSETS
Total Short-Term Assets $5.145B $4.841B $4.676B
Total Long-Term Assets $15.12B $14.58B $13.13B
Total Assets $20.27B $19.42B $17.81B
YoY Change 11.44% 9.09% 19.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.049B $3.734B $3.268B
YoY Change 9.23% 14.26% 0.09%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $619.0M $902.0M $997.0M
YoY Change -25.78% -9.53% 86.01%
Total Short-Term Liabilities $5.011B $4.924B $4.814B
YoY Change 2.56% 2.29% 20.86%
LONG-TERM LIABILITIES
Long-Term Debt $7.018B $6.313B $5.793B
YoY Change 20.77% 8.98% 15.98%
Other Long-Term Liabilities $554.0M $558.0M $554.0M
YoY Change -1.95% 0.72% 119.84%
Total Long-Term Liabilities $7.572B $6.871B $6.347B
YoY Change 18.76% 8.26% 20.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.011B $4.924B $4.814B
Total Long-Term Liabilities $7.572B $6.871B $6.347B
Total Liabilities $12.58B $11.80B $11.67B
YoY Change 11.73% 1.06% 19.54%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.150B $7.098B $6.135B
YoY Change
Total Liabilities & Shareholders Equity $20.27B $19.42B $17.81B
YoY Change 11.44% 9.09% 19.4%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $231.0M $292.0M $378.0M
YoY Change 40.0% -22.75% 68.0%
Depreciation, Depletion And Amortization $92.00M $91.00M $86.00M
YoY Change -56.19% 5.81% 36.51%
Cash From Operating Activities $257.0M $358.0M $31.00M
YoY Change -51.69% 1054.84% -90.25%
INVESTING ACTIVITIES
Capital Expenditures -$469.0M -$433.0M -$293.0M
YoY Change 68.1% 47.78% 58.38%
Acquisitions
YoY Change
Other Investing Activities $61.00M -$55.00M $145.0M
YoY Change -203.39% -137.93%
Cash From Investing Activities -$408.0M -$488.0M -$148.0M
YoY Change 20.71% 229.73% -20.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 168.0M 125.0M 118.0M
YoY Change -194.92% 5.93% -192.19%
NET CHANGE
Cash From Operating Activities 257.0M 358.0M 31.00M
Cash From Investing Activities -408.0M -488.0M -148.0M
Cash From Financing Activities 168.0M 125.0M 118.0M
Net Change In Cash 17.00M -5.000M 1.000M
YoY Change 0.0% -600.0% -80.0%
FREE CASH FLOW
Cash From Operating Activities $257.0M $358.0M $31.00M
Capital Expenditures -$469.0M -$433.0M -$293.0M
Free Cash Flow $726.0M $791.0M $324.0M
YoY Change -10.48% 144.14% -35.59%

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us-gaap Derivative Credit Risk Related Contingent Features Existence And Nature
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paa Cash Flow Hedge Gain Loss To Be Reclassified In Year Two And Three
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us-gaap Gross Profit
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paa Depreciation Depletion Amortization And Impairment
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NetIncomeLossPerOutstandingLimitedPartnershipUnit
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NetIncomeLossPerOutstandingLimitedPartnershipUnit
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us-gaap Share Based Compensation
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78000000 USD
us-gaap Inventory Write Down
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121000000 USD
us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Diluted
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1.84
CY2012Q2 us-gaap Inventory Write Down
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121000000 USD
CY2013Q2 us-gaap Letters Of Credit Outstanding Amount
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CY2013Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
14000000 USD
CY2012Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
15000000 USD
CY2013Q2 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
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CY2013Q2 us-gaap Property Plant And Equipment Gross
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CY2013Q2 us-gaap Equity Method Investments
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CY2013Q2 us-gaap Assets
Assets
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CY2013Q2 us-gaap Other Long Term Debt Noncurrent
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CY2013Q2 us-gaap Partners Capital
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CY2013Q2 us-gaap Minority Interest
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CY2013Q2 us-gaap Liabilities And Stockholders Equity
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paa Sales And Related Revenues
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165000000 USD
paa Pipeline Tariff Activities Trucking And Related Revenues
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paa Storage Terminalling Processing And Related Revenues
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420000000 USD
CY2013Q2 paa Purchases And Related Costs
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paa Purchases And Related Costs
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CY2013Q2 us-gaap Operating Costs And Expenses
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us-gaap Operating Costs And Expenses
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us-gaap General And Administrative Expense
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Net Income Loss Allocated To General Partners
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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paa Distribution Equivalent Right Payments
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paa Gain Loss On Sale Of Linefill And Base Gas
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Distribution Made To Member Or Limited Partner Cash Distributions Paid
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18000000 USD

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