2022 Budget Sensitivities and Financial Projections
Reconciliation of DCF and Adjusted EBITDA Excluding Uri
$ in millions
Reconciliation of KMI DCF Excluding Uri
Net income attributable to Kinder Morgan, Inc.
Total Certain Items
Adjusted Earnings (a)
DD&A and amortization of excess cost of equity investments for DCF (b)
Income tax expense for DCF (a,b)
Cash taxes (c)
Sustaining capital expenditures (d)
Other items (e)
DCF
Reconciliation of KMI Adjusted EBITDA Excluding Uri
Net income attributable to Kinder Morgan, Inc.
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
2021
2021 Actual
Actual
Excluding Uri
$
1,784
$
932
1,220
1,220
3,004
2,152
2,481
2,481
943
703
(69)
(69)
(864)
(859)
(35)
(35)
$
5,460 $
4,373
1,784 $
932
1,220
1,220
2,213
2,213
860
620
351
351
1,518
1,518
$
7,946 $
6,854
Note: See Non-GAAP Financial Measures and Reconciliations.
a) Amounts are adjusted for Certain Items.
b) Includes or represents DD&A and/or income tax expense (as applicalbe for each item) from JVs.
c) Includes cash taxes from JVs of $66 million and $60 million in 2022 and 2021, respectively.
d) Includes sustaining capital expenditures from JVs of $116 million and $107 million in 2022 and 2021, respectively.
e) Includes pension contributions, non-cash pension expense and non-cash compensation associated with our restricted stock program.
KINDER MORGAN
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