Kinder Morgan Financial Measures and CO2 Segment Analysis
GAAP Reconciliations
$ in millions
KINDER MORGAN
2021
Projected 2020
2021
Projected
2020
Guidance
Actual
Guidance
Actual
Net income attributable to Kinder Morgan, Inc. (GAAP)
Total Certain Items
$ 1,700 $ 119
1,200
1,892
Net income attributable to Kinder Morgan,
Total Certain Items
Inc. (GAAP)
$
1,700 $
119
1,200
1,892
Adjusted Earnings (a)
2,900
2,011
DD&A and amortization of excess cost of equity investments for DCF (b)
2,600
2,671
Income tax expense for DCF (a,b)
900
670
Cash taxes (c)
Sustaining capital expenditures (d)
Other items
DCF
(e)
(100)
(68)
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)
2,200
2,304
800
588
500
449
1,500
1,610
(900)
(658)
(29)
$
5,400 $ 4,597
Adjusted EBITDA
Note: See Non-GAAP Financial Measures and Reconciliations.
a) Amounts are adjusted for Certain Items.
b) Represents DD&A and income tax expense from JVs.
$
7,900
$
6,962
Note: See Non-GAAP Financial Measures and Reconciliations.
a) Amounts are adjusted for Certain Items.
b) Includes DD&A or income tax expense, as applicable, from JVs.
c) 2020 includes cash taxes from JVs of $62 million
d) 2020 includes sustaining capital expenditures from JVs of $114 million
e) 2020 includes non-cash pension expense and non-cash compensation associated with our restricted stock
Reconciliation of DD&A and amortization of excess cost of equity investments for DCF
Depreciation, depletion and amortization (GAAP)
2020
($2,164)
Reconciliation of income tax expense for DCF
Income tax expense (GAAP)
2020
$
(481)
Amortization of excess cost of equity investments (GAAP)
(140)
Certain Items
(107)
DD&A and amortization of excess cost of equity investments
(2,304)
Income tax expense (a)
(588)
JV DD&A
(367)
Unconsolidated JV income tax expense (b)
(82)
DD&A and amortization of excess cost of equity investments for DCF
($2,671)
Income tax expense for DCF (a)
$
(670)
Reconciliation of general and administrative and corporate charges
General and administrative (GAAP)
Reconciliation of additional JV information
($648)
Unconsolidated JV DD&A
$
(407)
Corporate charges
(5)
Less: Consolidated JV partners' DD&A
(40)
Certain Items
92
JV DD&A
(367)
General and administrative and corporate charges
(a)
($561)
Unconsolidated JV income tax expense (a
(a,b)
(82)
JV DD&A and income tax expense
(a)
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.
Unconsolidated JV cash taxes (b)
$
$
(1,595)
Unconsolidated JV sustaining capital expenditures
SASS
$ (449)
(62)
$
(120)
(15)
$
(1,610)
Less: Consolidated JV partners' sustaining capital expenditures
JV sustaining capital expenditures
(6)
$
(114)
42View entire presentation