PAA Q1 2016 Earnings Report — Plains All American Pipeline, L.P. Revenue & Financial Results | Market Cap Arena

Plains All American Pipeline, L.P.PAA

Q1 2016 Earnings

Reported May 9, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2016	Q4 2015	Q1 2015	QoQ Change	YoY Change
Revenue	$4.1B	—	—	—	—
Op. Income	$282M	—	—	—	—
Gross Margin	8.5%	—	—	—	—
Net Margin	4.9%	—	—	—	—
EPS (Diluted)	$0.51	—	—	—	—
Free Cash Flow	$263M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.8B
GROSS PROFIT	$349M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$67M
SG&A Expenses	$67M
Other Expenses	$0
Operating Expenses	$67M
Cost & Expenses	$3.8B
OPERATING INCOME	$282M
Interest Income	$0
Interest Expense	$112M
Other Income/Expenses	-$60M
INCOME BEFORE TAX	$222M
Income Tax Expense	$19M
Net Income from Continuing Ops	$203M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$202M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$28M
D&A	$114M
EBIT	$334M
EBITDA	$448M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.8B
GROSS PROFIT	$349M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$67M
SG&A Expenses	$67M
Other Expenses	$0
Operating Expenses	$67M
Cost & Expenses	$3.8B
OPERATING INCOME	$282M
Interest Income	$0
Interest Expense	$112M
Other Income/Expenses	-$60M
INCOME BEFORE TAX	$222M
Income Tax Expense	$19M
Net Income from Continuing Ops	$203M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$202M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$28M
D&A	$114M
EBIT	$334M
EBITDA	$448M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$203M
Depreciation & Amortization	$114M
Stock-Based Compensation	$4M
Deferred Income Tax	-$12M
Other Non-Cash Items	$8M
Change in Working Capital	$318M
OPERATING CASH FLOW	$635M
Capital Expenditure	-$372M
Acquisitions (Net)	-$160M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$245M
NET CASH FROM INVESTING	-$287M
Net Debt Issuance	-$1.5B
Common Stock Repurchased	$0
Common Dividends Paid	-$278M
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	-$343M
FREE CASH FLOW	$263M
Net Change in Cash	$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$36M
Short-Term Investments	$0
Net Receivables	$1.5B
Inventory	$877M
Other Current Assets	$318M
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$13.7B
Goodwill	$2.4B
Intangible Assets	$0
Long-Term Investments	$2.1B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$19.5B
TOTAL ASSETS	$22.3B
Account Payables	$1.9B
Short-Term Debt	$715M
Deferred Revenue	$0
Other Current Liabilities	$369M
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$9.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$710M
TOTAL NON-CURRENT LIABILITIES	$9.9B
TOTAL LIABILITIES	$12.9B
Common Stock	$7.5B
Additional Paid-In Capital	$0
Retained Earnings	-$9.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$2.2B
Other Equity	$9.4B
TOTAL STOCKHOLDERS' EQUITY	$9.4B
Minority Interest	$58M
TOTAL EQUITY	$9.4B
TOTAL LIABILITIES & EQUITY	$22.3B
Total Debt	$9.9B
Net Debt	$9.8B