American Petroleum & CO2 Segment Overview
GAAP Reconciliations
$ in millions
Certain Items
2022
Fair value amortization
$
(15)
Legal, environmental and other reserves
51
Change in fair value of derivative contracts (a)
57
Income tax Certain Items (b)
(37)
Other
32
Total Certain Items
(c,d)
$
88
Reconciliation of Segment EBDA to Adjusted Segment EBDA
Natural Gas Pipelines Segment EBDA (e)
2022
Actual
2023
Reconciliation of Net Debt
Budget
Current portion of debt
EA
$
4,801
$5,066
Total long-term debt
Certain Items
Debt fair value adjustments
Legal, environmental and other reserves
51
Foreign exchange impact on hedges for Euro Debt outstanding
Change in fair value of derivative contracts
64
Less: cash & cash equivalents
Other
26
Net Debt
Natural Gas Pipelines Adjusted Segment EBDA
$
4,942
5,066
Adjusted EBITDA
Net Debt to Adjusted EBITDA
(e)
Products Pipelines Segment EBDA
$
1,107 $
1,238
Terminals Segment EBDA (e)
$
975 $
1,000
CO2 Segment EBDA (e)
Certain Items
Change in fair value of derivative contracts
CO2 Adjusted Segment EBDA
$
819 $
879
(11)
$
808 $
879
a) Gains or losses are reflected when realized.
KINDER MORGAN
2022
$ 3,385
28,403
(115)
8
(745)
$30,936
$ 7,516
4.1X
b) Represents the income tax provision on Certain Items plus discrete income tax items. Includes the impact of KMI's income tax provision on Certain Items affecting earnings from equity investments and is separate from the related tax
provision recognized at the investees by the joint ventures which are also taxable entities.
c) Amount includes $1 million included within "Earnings from equity investments" included within "Change in fair value of derivative contracts."
d) Amount includes, in aggregate, $(11) million, included within "Interest, net" which consist of $(15) million of "Fair value amortization" and $4 million, of "Change in fair value of derivative contracts."
e) Includes revenues, earnings from equity investments, operating expenses, gain on divestitures and impairments, net, other income, net, and other, net. Operating expenses include costs of sales, operations and maintenance
expenses, and taxes, other than income taxes. The composition of Segment EBDA is not addressed nor prescribed by generally accepted accounting principles.
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