Kinder Morgan Energy Infrastructure Deck
Net Income & Adjusted EBITDA
$ in millions
2023
Budget
2022
Change
Actual
$
%
Net income attributable to Kinder Morgan, Inc.
Certain Items
Fair value amortization
Legal, environmental and other reserves
$ 2,525
$
2,548 $
(23)
-1%
(12)
(15)
51
Change in fair value of derivative contracts
57
Income tax Certain Items
(37)
Other
32
Total Certain Items
(12)
88
(100)
NM
DD&A
2,197
2,186
11
1%
Amortization of excess cost of equity investments
67
75
(8)
(11%)
Income tax expense (a)
724
747
(23)
(3%)
Interest, net (b)
1,855
1,524
331
22%
Amounts from joint ventures
Unconsolidated JV DD&A
323
323
Remove consolidated JV partners' DD&A
(62)
(50)
(12)
24%
Unconsolidated JV income tax expense (c)
84
75
9
Adjusted EBITDA
$
7,701 $
7,516
$
185
12%
2%
KINDER MORGAN
a) To avoid duplication, 2022 adjustments for income tax expense exclude $(37) million, which amount is already included within "Certain Items." See table captioned "Certain Items" on slide 53.
b) To avoid duplication, 2022 adjustments for interest, net exclude $(11) million, which amount is already included within "Certain Items." See table captioned "Certain Items" on slide 53.
c) Includes the tax provision on Certain Items recognized by the investees that are taxable entities associated with our Citrus, NGPL and Products (SE) Pipe Line equity investments. The impact of KMI's income tax provision on Certain
Items affecting earnings from equity investments is included within "Certain Items" above.
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