Kinder Morgan Energy Infrastructure Deck
Reconciliation of Adjusted EBITDA, Normalized for Divestitures
$ in millions
Reconciliation of Adjusted EBITDA, Normalized for Divestitures
Net income attributable to Kinder Morgan, Inc.
Noncontrolling interest certain item
KML noncontrolling interests (a)
Certain Items
Fair value amortization
Legal, environmental and other reserves
Change in fair value of derivative contracts
2016
2017
2018
2019
2020
2021
2022
$ 708 $ 183 $ 1,609 $ 2,190 $ 119 $ 1,784 $ 2,548
(8)
28
58
33
33
(143)
(53)
(34)
(29)
(21)
(19)
(15)
(16)
(37)
12
46
26
160
51
75
40
80
(24)
(5)
19
57
Loss on impairment
848
170
317
(280)
1,927
1,535
Project write-offs
171
Impact of 2017 Tax Cuts and Jobs Act
219
(36)
Income tax Certain Items
18
1,085
(58)
299
(107)
(491)
(37)
Noncontrolling interests
240
(4)
Other
(20)
21
(20)
(37)
72
16
32
Total Certain Items
933
1,445
501
(29)
1,892
1,220
88
DD&A
2,209
2,261
2,297
2,411
2,164
2,135
2,186
Amortization of excess cost of equity investments
59
61
95
83
140
78
75
Income tax expense (a)
899
853
645
627
588
860
747
Interest, net (a)
1,999
1,871
1,891
1,816
1,610
1,518
1,524
Amounts from joint ventures
Unconsolidated JV DD&A
Remove consolidated JV partners' DD&A
Unconsolidated JV income tax expense (a)
Adjusted EBITDA
Divested adjusted EBITDA (a)
As normalized for divestitures
$ 7,242 $ 7,198 $ 7,568 $ 7,618 $ 6,962 $ 7,946 $ 7,516
(701)
(534)
(526) (399)
(94)
(56)
(48)
$ 6,541 $ 6,664 $ 7,042 $ 7,219 $ 6,868 $ 7,890 $ 7,468
362
398
412
411
407
312
323
(13)
(16)
(22)
(19)
(40)
(44)
(50)
94
114
82
95
82
83
75
a) To avoid duplication, amounts are adjusted to exclude amounts which are already included within "Certain Items" above.
KINDER MORGAN
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