PAA FY 2016 Earnings Report — Plains All American Pipeline, L.P. Revenue & Financial Results | Market Cap Arena

Plains All American Pipeline, L.P.PAA

FY 2016 Earnings

Reported February 23, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$20.2B	—	$23.2B	—	-12.8%
Op. Income	$994M	—	$1.3B	—	-21.2%
Gross Margin	6.3%	—	6.7%	—	-0.3pp
Net Margin	3.6%	—	3.9%	—	-0.3pp
EPS (Diluted)	$0.43	—	$0.77	—	-44.2%
Free Cash Flow	-$608M	—	-$735M	—	17.3%

Revenue Flow

Item	Amount
REVENUE	$20.2B
Cost of Revenue	$18.9B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$279M
SG&A Expenses	$279M
Other Expenses	$0
Operating Expenses	$279M
Cost & Expenses	$19.2B
OPERATING INCOME	$994M
Interest Income	$0
Interest Expense	$467M
Other Income/Expenses	-$239M
INCOME BEFORE TAX	$755M
Income Tax Expense	$25M
Net Income from Continuing Ops	$730M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$726M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$200M
D&A	$494M
EBIT	$1.2B
EBITDA	$1.7B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$20.2B
Cost of Revenue	$18.9B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$279M
SG&A Expenses	$279M
Other Expenses	$0
Operating Expenses	$279M
Cost & Expenses	$19.2B
OPERATING INCOME	$994M
Interest Income	$0
Interest Expense	$467M
Other Income/Expenses	-$239M
INCOME BEFORE TAX	$755M
Income Tax Expense	$25M
Net Income from Continuing Ops	$730M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$726M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$200M
D&A	$494M
EBIT	$1.2B
EBITDA	$1.7B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$730M
Depreciation & Amortization	$494M
Stock-Based Compensation	$60M
Deferred Income Tax	-$60M
Other Non-Cash Items	-$12M
Change in Working Capital	-$486M
OPERATING CASH FLOW	$726M
Capital Expenditure	-$1.3B
Acquisitions (Net)	-$583M
Purchases of Investments	-$301M
Sales/Maturities of Investments	$0
Other Investing Activities	$644M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	-$633M
Common Stock Repurchased	$0
Common Dividends Paid	-$1.1B
Other Financing Activities	-$156M
NET CASH FROM FINANCING	$563M
FREE CASH FLOW	-$608M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$47M
Short-Term Investments	$0
Net Receivables	$2.3B
Inventory	$1.3B
Other Current Assets	$603M
TOTAL CURRENT ASSETS	$4.3B
PP&E (Net)	$13.9B
Goodwill	$2.3B
Intangible Assets	$242M
Long-Term Investments	$2.3B
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$19.9B
TOTAL ASSETS	$24.2B
Account Payables	$2.6B
Short-Term Debt	$1.7B
Deferred Revenue	$0
Other Current Liabilities	$361M
TOTAL CURRENT LIABILITIES	$4.7B
Long-Term Debt	$10.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$606M
TOTAL NON-CURRENT LIABILITIES	$10.7B
TOTAL LIABILITIES	$15.4B
Common Stock	$7.3B
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.8B
Minority Interest	$57M
TOTAL EQUITY	$8.8B
TOTAL LIABILITIES & EQUITY	$24.2B
Total Debt	$11.8B
Net Debt	$11.8B