PAA Q3 2016 Earnings Report — Plains All American Pipeline, L.P. Revenue & Financial Results | Market Cap Arena

Plains All American Pipeline, L.P.PAA

Q3 2016 Earnings

Reported November 8, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$5.2B	$5.0B	—	4.4%	—
Op. Income	$349M	$146M	—	139.0%	—
Gross Margin	8.1%	4.4%	—	3.7pp	—
Net Margin	5.7%	2.0%	—	3.7pp	—
EPS (Diluted)	$0.74	$0.25	—	196.0%	—
Free Cash Flow	-$76M	-$575M	—	86.8%	—

Revenue Flow

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$4.8B
GROSS PROFIT	$419M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$70M
SG&A Expenses	$70M
Other Expenses	$0
Operating Expenses	$70M
Cost & Expenses	$4.8B
OPERATING INCOME	$349M
Interest Income	$0
Interest Expense	$113M
Other Income/Expenses	-$50M
INCOME BEFORE TAX	$299M
Income Tax Expense	$1M
Net Income from Continuing Ops	$298M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$297M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$162M
D&A	$32M
EBIT	$349M
EBITDA	$444M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$4.8B
GROSS PROFIT	$419M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$70M
SG&A Expenses	$70M
Other Expenses	$0
Operating Expenses	$70M
Cost & Expenses	$4.8B
OPERATING INCOME	$349M
Interest Income	$0
Interest Expense	$113M
Other Income/Expenses	-$50M
INCOME BEFORE TAX	$299M
Income Tax Expense	$1M
Net Income from Continuing Ops	$298M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$297M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$162M
D&A	$32M
EBIT	$349M
EBITDA	$444M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$298M
Depreciation & Amortization	$32M
Stock-Based Compensation	$14M
Deferred Income Tax	-$3M
Other Non-Cash Items	-$3M
Change in Working Capital	-$83M
OPERATING CASH FLOW	$255M
Capital Expenditure	-$331M
Acquisitions (Net)	-$248M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$247M
NET CASH FROM INVESTING	-$332M
Net Debt Issuance	$52M
Common Stock Repurchased	$0
Common Dividends Paid	-$278M
Other Financing Activities	$5M
NET CASH FROM FINANCING	$74M
FREE CASH FLOW	-$76M
Net Change in Cash	-$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$31M
Short-Term Investments	$0
Net Receivables	$1.9B
Inventory	$1.3B
Other Current Assets	$538M
TOTAL CURRENT ASSETS	$3.8B
PP&E (Net)	$13.8B
Goodwill	$2.4B
Intangible Assets	$0
Long-Term Investments	$2.2B
Tax Assets	$0
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$19.7B
TOTAL ASSETS	$23.5B
Account Payables	$2.3B
Short-Term Debt	$1.4B
Deferred Revenue	$0
Other Current Liabilities	$413M
TOTAL CURRENT LIABILITIES	$4.1B
Long-Term Debt	$9.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$722M
TOTAL NON-CURRENT LIABILITIES	$10.4B
TOTAL LIABILITIES	$14.4B
Common Stock	$7.2B
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.7B
Minority Interest	$326M
TOTAL EQUITY	$9.1B
TOTAL LIABILITIES & EQUITY	$23.5B
Total Debt	$11.0B
Net Debt	$11.0B