Investor Presentation
GAAP Reconciliations
$ in millions
KINDER MORGAN
2022
Projected
Guidance
2021
Projected
2020
Guidance
Actual
2022
Projected
Guidance
2021
Projected
2020
Guidance
Actual
Net income attributable to Kinder Morgan, Inc. (GAAP)
Total Certain Items (a)
Adjusted Earnings (b)
$
2,500 $
1,700 $
119
1,200
1,892
Net income attributable to Kinder Morgan, Inc. (GAAP)
Total Certain Items (a)
$ 2,500 $
1,700 $
119
1,200
1,892
2,500
2,900
2,011
DD&A and amortization of excess cost of equity investments for DCF (c)
Income tax expense for DCF (b,c)
2,400
2,600
2,671
DD&A and amortization of excess cost of equity investments
Income tax expense (b)
2,200
2,200
2,304
700
800
588
800
900
670
JV DD&A and income tax expense (b,c)
300
500
449
Cash taxes (c,d)
Sustaining capital expenditures (c,e)
Other items (a,f)
DCF
(100)
(100)
(68)
Interest, net (b)
1,500
1,500
1,610
Adjusted EBITDA
$
7,200 $
7,900 $
6,962
(900)
(900)
(658)
(29)
Note: See Non-GAAP Financial Measures and Reconciliations.
$
4,700 $ 5,400 $
4,597
a) Aggregate adjustments for Total Certain Items are currently estimated to be less than $100 million in 2022.
b) Amounts are adjusted for Certain items.
Note: See Non-GAAP Financial Measures and Reconciliations.
a) Aggregate adjustments for Total Certain Items and Other items (such as non-cash pension expense and non-cash compensation
associated with our restricted stock program) are currently estimated to be less than $100 million in 2022.
b) Amounts are adjusted for Certain Items.
c) Includes DD&A, income tax expense, cash taxes and/or sustaining capital expenditures, as applicable, from JVs.
d) 2020 includes cash taxes from JVs of $62 million
e) 2020 includes sustaining capital expenditures from JVs of $114 million
f) 2020 includes non-cash pension expense and non-cash compensation associated with our restricted stock program.
Reconciliation of DD&A and amortization of excess cost of equity investments for DCF
Depreciation, depletion and amortization (GAAP)
Amortization of excess cost of equity investments (GAAP)
DD&A and amortization of excess cost of equity investments
JV DD&A
c) Represents DD&A and income tax expense from JVs.
2020
($2,164)
Reconciliation of income tax expense for DCF
Income tax expense (GAAP)
2020
$
(481)
(140)
Certain Items
(107)
(2,304)
(367)
DD&A and amortization of excess cost of equity investments for DCF
($2,671)
Reconciliation of general and administrative and corporate charges
General and administrative (GAAP)
($648)
Corporate charges
(5)
Certain Items
92
Income tax expense (a)
Unconsolidated JV income tax expense (b)
Income tax expense for DCF (a)
Reconciliation of additional JV information
Unconsolidated JV DD&A
Less: Consolidated JV partners' DD&A
JV DD&A
(588)
(82)
$ (670)
$
EA
General and administrative and corporate charges (a
($561)
Unconsolidated JV income tax expense
JV DD&A and income tax expense (a)
(a,b)
Reconciliation of interest, net
Interest, net (GAAP)
Certain Items
Interest, net(a)
a) Amounts are adjusted for Certain items.
b) Amounts are associated with our Citrus, NGPL and Plantation equity investments.
$
(1,595)
(15)
$
(1,610)
Unconsolidated JV cash taxes (b)
Unconsolidated JV sustaining capital expenditures
Less: Consolidated JV partners' sustaining capital expenditures
JV sustaining capital expenditures
SSS
(407)
(40)
(367)
(82)
$ (449)
$
(62)
$
(120)
$ (114)
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