PLAINS GP HOLDINGS LP

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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FY2023 · Filed Feb 29, 2024

PAGP$25.41-1.4%Stored close · as of Nov 9, 2026

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Contents

9. Intangible Assets, Net F-

Note 9—Intangible Assets, Net

Intangible assets, net of accumulated amortization, consisted of the following (in millions):

December 31, 2023 · December 31, 2022
	Estimated UsefulLives (Years)	Cost	AccumulatedAmortization	Net	Cost	AccumulatedAmortization	Net
Customer contracts and relationships	1 – 29	$2,789	$(932)	$1,857	$2,817	$(695)	$2,122
Other agreements	15 – 70	30	(12)	18	35	(12)	23
Intangible assets (1)		$2,819	$(944)	$1,875	$2,852	$(707)	$2,145

(1)We include rights-of-way, which are intangible assets, within property and equipment. See Note 6 for a discussion of property and equipment.

Intangible assets that have finite lives are tested for impairment when events or circumstances indicate that the carrying value may not be recoverable. We did not recognize any impairments of finite-lived intangible assets during the three years ended December 31, 2023.

The majority of our finite-lived intangible assets are amortized under the declining balance method. Amortization expense for finite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021 was $308 million, $254 million and $122 million, respectively. We estimate that our amortization expense related to finite-lived intangible assets for the next five years will be as follows (in millions):

2024	$272
2025	$249
2026	$210
2027	$187
2028	$165

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