KMI: 2020 Guidance - Published Budget
Stable, Fee-Based Cash Flow from High Quality Customers
Underpinned by multi-year contracts with diversified customer base
STABLE CASH FLOWS (a)
4% 5%
HIGH QUALITY CUSTOMERS (b)
25%
77%
$8.4bn
investment grade rated or
substantial credit support
66%
KINDER MORGAN
Not rated
11%
B- or below
5%
Customers 7% BB+ to B
>$5mm
(238, -87% of total)
66% Take-or-pay
25% Fee-based
5% Hedged
4% Other
Entitled to payment regardless of throughput
Supported by stable volumes, critical infrastructure
between major supply hubs & stable end-user demand
Disciplined approach to managing price volatility,
substantially hedged near-term exposure
Commodity-price based, limited to small portions of
unhedged oil and gas production and G&P business
plus:
-69% of net revenue comes from
end-users of the products we handle
b)
Based on 2019 budgeted Adjusted Segment EBDA plus JV DD&A. See Non-GAAP Financial Measures and Reconciliations.
Based on 2019 budgeted net revenues, which include our share of unconsolidated joint ventures and net margin for our Texas Intrastate customers & other midstream businesses. Chart includes customers >$5mm at their respective
company credit ratings as of 1/9/2019 per S&P and Moody's, shown at the S&P-equivalent rating & utilizing a blended rate for split-rated companies. End-users includes utilities, LDCs, refineries, chemical companies, large integrateds, etc.
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