In addition to sales of PAA’s common units under its Continuous Offering Program described above, PAA completed the following offerings of its common units during the three years ended December 31, 2013 (in millions, except unit and per unit data):
|
|
|
|
|
Gross |
|
Proceeds |
|
|
|
Net |
| ||||
|
Period |
|
Units Issued |
|
Unit Price |
|
from Sale |
|
Costs |
|
Proceeds |
| ||||
|
March 2012 (1) |
|
11,500,000 |
|
$ |
40.015 |
|
$ |
460 |
|
$ |
(14 |
) |
$ |
446 |
|
|
2012 Total |
|
11,500,000 |
|
|
|
$ |
460 |
|
$ |
(14 |
) |
$ |
446 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
November 2011 (1) |
|
12,000,000 |
|
$ |
32.515 |
|
$ |
390 |
|
$ |
(13 |
) |
$ |
377 |
|
|
March 2011 (1) |
|
15,870,000 |
|
$ |
32.000 |
|
508 |
|
(15 |
) |
493 |
| |||
|
2011 Total |
|
27,870,000 |
|
|
|
$ |
898 |
|
$ |
(28 |
) |
$ |
870 |
| |
(1) These offerings of common units were underwritten transactions that required PAA to pay a gross spread.
|
|
|
Class A Shares |
|
Class B Shares |
|
|
Balance at October 21, 2013 (IPO date) |
|
— |
|
— |
|
|
Shares issued in connection with the reorganization and IPO |
|
132,382,094 |
|
473,647,679 |
|
|
Shares issued/(exchanged) in connection with AAP unit exchanges |
|
1,451,543 |
|
(1,451,543 |
) |
|
Balance at December 31, 2013 |
|
133,833,637 |
|
472,196,136 |
|
Total cash distributions paid by PAA during the periods indicated were as follows (in millions, except per unit amounts):
|
|
|
Distributions Paid |
|
Distributions |
| |||||||||||
|
|
|
Common |
|
AAP |
|
|
|
per limited |
| |||||||
|
Year |
|
Units |
|
Incentive |
|
2% |
|
Total |
|
partner unit |
| |||||
|
2013 |
|
$ |
791 |
|
$ |
353 |
|
$ |
16 |
|
$ |
1,160 |
|
$ |
2.33 |
|
|
2012 |
|
$ |
684 |
|
$ |
271 |
|
$ |
14 |
|
$ |
969 |
|
$ |
2.11 |
|
|
2011 |
|
$ |
575 |
|
$ |
204 |
|
$ |
12 |
|
$ |
791 |
|
$ |
1.95 |
|