{"schema_version":"secwatch.filing_event.v1","accession":"0001070423-24-000004","form_type":"8-K","ticker":"PAA","cik":"0001070423","company_name":"PLAINS ALL AMERICAN PIPELINE LP","filed_at":"2024-02-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.289357+00:00","generated_at":"2026-06-06T04:40:48.840642+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"PAA Q4 net income $312M, Adj EBITDA above guidance; raises distribution 19%","bullets":["Q4 net income $312M; full-year $1.23B (up 19% YoY). Adj EBITDA $737M in Q4, $2.71B full year (above top end of guidance).","Board approved increasing annualized distribution to $1.27/unit (+$0.20, +19% vs 2023), starting Feb 2024.","2024 guidance: Adj EBITDA $2.625-2.725B; leverage target reaffirmed 3.25x-3.75x; expects ~$1.65B adj free cash flow.","Full-year 2023 Adj Free Cash Flow (excl working capital) $1.60B; achieved year-end leverage of 3.1x.","Received two credit rating upgrades in 2023; completed two asset sales and three bolt-on acquisitions."],"urls":{"canonical":"https://secwatch.observer/filing/0001070423-24-000004","json":"https://secwatch.observer/filing/0001070423-24-000004.json","markdown":"https://secwatch.observer/filing/0001070423-24-000004.md","text":"https://secwatch.observer/filing/0001070423-24-000004.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1070423/000107042324000004/0001070423-24-000004-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1070423/000107042324000004/paa-20240209.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T04:40:48.840642+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"34fce6258d6d33c385b65339e8a91b2f34ae4172","claim":"PLAINS ALL AMERICAN PIPELINE LP reported twelve months ended December 31, 2023 results: net income 1.23 billion.","evidence_excerpt":"Full-year 2023 Net income attributable to PAA of $312 million and $1.23 billion, respectively","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1070423/000107042324000004/0001070423-24-000004-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"twelve months ended December 31, 2023"},{"label":"Net income","value":"1.23 billion"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"44d5c0e01fca24fbffbb8399c199524179b90ac0","claim":"PLAINS ALL AMERICAN PIPELINE LP updated its full-year 2024 guidance (reaffirmed).","evidence_excerpt":"Reaffirming leverage ratio target range of 3.25x - 3.75x reflecting commitment to balance sheet strength and flexibility","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1070423/000107042324000004/0001070423-24-000004-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full-year 2024"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"8599f7db6b6a4ce37747b55cbb99914e11ec58c8","claim":"PLAINS ALL AMERICAN PIPELINE LP reported three months ended December 31, 2023 results: net income 312 million.","evidence_excerpt":"Fourth-quarter and full-year 2023 Net income attributable to PAA of $312 million and $1.23 billion, respectively","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1070423/000107042324000004/0001070423-24-000004-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended December 31, 2023"},{"label":"Net income","value":"312 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}