2022 Budget Sensitivities and Financial Projections
2022 Budget Summary
$ in billions, except per share
Key metrics
Net income
Adjusted EBITDA
2021
2022
Increase
2021
excluding Uri
Budget
excluding Uri
$1.8
$0.9
$2.5
>2.5x
$7.9
$6.9
$7.2
5%
Distributable Cash Flow
$5.5
$4.4
$4.7
8%
(DCF)
Discretionary capital(a)
$2.3
$1.3
Dividend share (b)
$1.08
$1.11
Year-end Net Debt /
3.9x
Adj. EBITDA (b)
4.3x
KINDER MORGAN
~$890 million CFFO - capital expenditures - dividends (c)
We expect net income, EBITDA and DCF to be favorable to
budget due to stronger than expected commodity prices
and favorable operating results from our Natural Gas and
CO2 business segments, partially offset by higher costs
Note: See Non-GAAP Financial Measures & Reconciliations.
a) Includes growth capital & JV contributions for expansion capital, debt repayments & net of partner contributions for our consolidated JVs.
b) No share repurchases assumed in 2022 budget.
c) Per Statement of Cash Flows.
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