PAA FY 2014 Earnings Report — Plains All American Pipeline, L.P. Revenue & Financial Results | Market Cap Arena

Plains All American Pipeline, L.P.PAA

FY 2014 Earnings

Reported February 25, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$43.5B	—	—	—	—
Op. Income	$1.8B	—	—	—	—
Gross Margin	4.9%	—	—	—	—
Net Margin	3.2%	—	—	—	—
EPS (Diluted)	$2.38	—	—	—	—
Free Cash Flow	$72M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$43.5B
Cost of Revenue	$41.3B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$325M
SG&A Expenses	$325M
Other Expenses	-$2M
Operating Expenses	$325M
Cost & Expenses	$41.7B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$348M
Other Income/Expenses	-$242M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$171M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$500M
BOTTOM LINE NET INCOME	$878M
D&A	$392M
EBIT	$1.9B
EBITDA	$2.3B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$43.5B
Cost of Revenue	$41.3B
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$325M
SG&A Expenses	$325M
Other Expenses	-$2M
Operating Expenses	$325M
Cost & Expenses	$41.7B
OPERATING INCOME	$1.8B
Interest Income	$0
Interest Expense	$348M
Other Income/Expenses	-$242M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$171M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$500M
BOTTOM LINE NET INCOME	$878M
D&A	$392M
EBIT	$1.9B
EBITDA	$2.3B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$392M
Stock-Based Compensation	$98M
Deferred Income Tax	$100M
Other Non-Cash Items	$295M
Change in Working Capital	-$267M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$1.9B
Acquisitions (Net)	-$1.3B
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$108M
NET CASH FROM INVESTING	-$3.3B
Net Debt Issuance	$2.2B
Common Stock Repurchased	$0
Common Dividends Paid	-$934M
Other Financing Activities	$362M
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	$72M
Net Change in Cash	$362M

Balance Sheet

Item	Amount
Cash & Equivalents	$403M
Short-Term Investments	$0
Net Receivables	$2.6B
Inventory	$891M
Other Current Assets	$270M
TOTAL CURRENT ASSETS	$4.2B
PP&E (Net)	$12.3B
Goodwill	$2.5B
Intangible Assets	$345M
Long-Term Investments	$1.7B
Tax Assets	$0
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$18.1B
TOTAL ASSETS	$22.3B
Account Payables	$3.0B
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$482M
TOTAL CURRENT LIABILITIES	$4.8B
Long-Term Debt	$8.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$548M
TOTAL NON-CURRENT LIABILITIES	$9.3B
TOTAL LIABILITIES	$14.1B
Common Stock	$7.8B
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.8B
Minority Interest	$398M
TOTAL EQUITY	$8.2B
TOTAL LIABILITIES & EQUITY	$22.3B
Total Debt	$10.0B
Net Debt	$9.6B