PAA FY 2006 Earnings Report — Plains All American Pipeline, L.P. Revenue & Financial Results | Market Cap Arena

Plains All American Pipeline, L.P.PAA

FY 2006 Earnings

Reported March 1, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$22.4B	—	—	—	—
Op. Income	$355M	—	—	—	—
Gross Margin	2.6%	—	—	—	—
Net Margin	1.3%	—	—	—	—
EPS (Diluted)	$1.44	—	—	—	—
Free Cash Flow	-$616M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$22.4B
Cost of Revenue	$21.9B
GROSS PROFIT	$589M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$134M
SG&A Expenses	$134M
Other Expenses	$100M
Operating Expenses	$234M
Cost & Expenses	$22.1B
OPERATING INCOME	$355M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$76M
INCOME BEFORE TAX	$279M
Income Tax Expense	$300.0K
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$6M
NET INCOME	$285M
Net Income Deductions	$55M
BOTTOM LINE NET INCOME	$230M
D&A	$100M
EBIT	$355M
EBITDA	$465M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$22.4B
Cost of Revenue	$21.9B
GROSS PROFIT	$589M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$134M
SG&A Expenses	$134M
Other Expenses	$100M
Operating Expenses	$234M
Cost & Expenses	$22.1B
OPERATING INCOME	$355M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$76M
INCOME BEFORE TAX	$279M
Income Tax Expense	$300.0K
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$6M
NET INCOME	$285M
Net Income Deductions	$55M
BOTTOM LINE NET INCOME	$230M
D&A	$100M
EBIT	$355M
EBITDA	$465M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$285M
Depreciation & Amortization	$100M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$42M
Change in Working Capital	-$703M
OPERATING CASH FLOW	-$275M
Capital Expenditure	-$341M
Acquisitions (Net)	-$1.3B
Purchases of Investments	-$46M
Sales/Maturities of Investments	$4M
Other Investing Activities	-$200.0K
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$1.6B
Common Stock Repurchased	$0
Common Dividends Paid	-$263M
Other Financing Activities	-$16M
NET CASH FROM FINANCING	$1.9B
FREE CASH FLOW	-$616M
Net Change in Cash	$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$11M
Short-Term Investments	$0
Net Receivables	$1.7B
Inventory	$1.3B
Other Current Assets	$131M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$3.8B
Goodwill	$1.0B
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$689M
TOTAL NON-CURRENT ASSETS	$5.6B
TOTAL ASSETS	$8.7B
Account Payables	$1.8B
Short-Term Debt	$1.0B
Deferred Revenue	$0
Other Current Liabilities	$177M
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$87M
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$5.7B
Common Stock	$2.9B
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$71M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$8.7B
Total Debt	$3.6B
Net Debt	$3.6B