Kinder Morgan Market Opportunity and Financial Overview
Reconciliation of Adjusted EBITDA, Normalized for Divestitures
$ in millions
KINDER MORGAN
Reconciliation of Adjusted EBITDA, Normalized for Divestitures
Net income attributable to Kinder Morgan, Inc. (GAAP)
Noncontrolling interest certain item
KML noncontrolling interests (a)
Total Certain Items
DD&A and amortization of excess cost of equity investments
Income tax expense (a)
JV DD&A and income tax expense (a,b)
Interest, net(a)
Adjusted EBITDA
Divested adjusted EBITDA (a)
As normalized for divestitures
Note: See Non-GAAP Financial Measures and Reconciliations.
a) Amounts are adjusted for Certain Items.
b) Represents JV DD&A and income tax expense.
2016
2017
2018
2019
2020
2021
2022
$ 708 $ 183 $ 1,609 $ 2,190 $ 119
(8)
$ 1,784 $ 2,548
28
58
33
933
1,445
501
(29)
1,892
1,220
88
2,268
2,322
2,392
2,494
2,304
2,213
2,261
899
853
645
627
588
860
747
443
496
472
487
449
351
348
1,999
1,871
1,891
1,816
1,610
1,518
1,524
$ 7,242 $ 7,198 $ 7,568 $ 7,618 $ 6,962 $ 7,946 $ 7,516
(701)
(534)
(526)
(399)
(94)
(56)
(48)
$ 6,541 $ 6,664 $ 7,042 $ 7,219 $ 6,868 $ 7,890 $ 7,468
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