2022 Budget Sensitivities and Financial Projections
Reconciliations of KMI FCF & CO2 Segment FCF
$ in millions
Reconciliation of KMI FCF
CFFO (GAAP)
Capital expenditures (GAAP)(a)
FCF
Dividends paid (GAAP)(b)
FCF after dividends
2017
2018
2019
$ 137 $ 365
2020
2021
$ 4,601 $ 5,043 $ 4,748 $ 4,550 $ 5,708
(3,188) (2,904) (2,270) (1,707) (1,281)
1,413 2,139 2,478 2,843 4,427
(1,276) (1,774) (2,163) (2,362) (2,443)
$ 315 $ 481 $ 1,984
Reconciliation of CO2 EOR & Transport FCF
EBDA for CO2 EOR & Transport (GAAP)
847
759
$ 681
$
(292) $
752
Certain items:
Loss (gain) on non-cash impairments, project write-offs and divestitures
79
75
Derivatives and other
40
90
(49)
950
(6)
(10)
4
Severance tax refund
(21)
Adjusted EBDA for CO2 EOR & Transport
887
907
707
652
746
Capital expenditures (GAAP) (a)
(436)
(397)
(349)
(186)
(185)
Acquisitions
(21)
CO2 EOR & Transport FCF
$
451
$
489 $ 358
$ 466
EA
$
561
a) Includes sustaining and expansion capital expenditures.
b) Includes dividends paid for the preferred shares for the years ended 2017 and 2018.
KINDER MORGAN
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