Document_And_Entity_Informatio
Document And Entity Information (USD $) | 6 Months Ended | ||
Jun. 30, 2014 | Jul. 25, 2014 | Jun. 28, 2013 | |
Entity [Abstract] | ' | ' | ' |
Entity Registrant Name | 'KINDER MORGAN, INC. | ' | ' |
Entity Central Index Key | '0001506307 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $25,669,830,461 |
Entity Common Stock, Shares Outstanding | ' | 1,028,223,019 | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q2 | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Jun-14 | ' | ' |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenues [Abstract] | ' | ' | ' | ' |
Natural gas sales | $1,014 | $944 | $2,111 | $1,681 |
Services | 1,812 | 1,602 | 3,641 | 3,206 |
Product sales and other | 1,111 | 836 | 2,232 | 1,555 |
Total Revenues | 3,937 | 3,382 | 7,984 | 6,442 |
Operating Costs, Expenses and Other | ' | ' | ' | ' |
Costs of sales | 1,610 | 1,254 | 3,253 | 2,224 |
Operations and maintenance | 540 | 643 | 1,023 | 1,062 |
Depreciation, depletion and amortization | 502 | 445 | 998 | 860 |
General and administrative | 154 | 183 | 326 | 323 |
Taxes, other than income taxes | 111 | 102 | 221 | 200 |
Other expense (income), net | 7 | -17 | 3 | -16 |
Total Operating Costs, Expenses and Other | 2,924 | 2,610 | 5,824 | 4,653 |
Operating Income | 1,013 | 772 | 2,160 | 1,789 |
Other Income (Expense) | ' | ' | ' | ' |
Earnings from equity investments | 100 | 93 | 199 | 194 |
Amortization of excess cost of equity investments | -11 | -9 | -21 | -18 |
Interest, net | -440 | -427 | -888 | -829 |
Gain on remeasurement of previously held equity interest in Eagle Ford Gathering to fair value (Note 2) | 0 | 558 | 0 | 558 |
Gain on remeasurement of previously held equity interest in Eagle Ford Gathering to fair value (Note 2) | 0 | 0 | 0 | 225 |
Other, net | 13 | 19 | 26 | 24 |
Total Other (Expense) Income | -338 | 234 | -684 | 154 |
Income from Continuing Operations Before Income Taxes | 675 | 1,006 | 1,476 | 1,943 |
Income Tax Expense | -178 | -225 | -378 | -504 |
Income from Continuing Operations | 497 | 781 | 1,098 | 1,439 |
Loss from Discontinued Operations, Net of Tax | 0 | 0 | 0 | -2 |
Net Income | 497 | 781 | 1,098 | 1,437 |
Net Income Attributable to Noncontrolling Interests | -213 | -504 | -527 | -868 |
Net Income Attributable to Kinder Morgan, Inc. | $284 | $277 | $571 | $569 |
Diluted Weighted-Average Number of Shares Outstanding | ' | ' | ' | ' |
Dividends Per Common Share Declared for the Period | $0.43 | $0.40 | $0.85 | $0.78 |
Class P [Member] | ' | ' | ' | ' |
Basic and Diluted Earning Per Common Share | ' | ' | ' | ' |
From Continuing Operations | $0.27 | $0.27 | $0.55 | $0.55 |
From Discontinued Operations | $0 | $0 | $0 | $0 |
Total Basic and Diluted Earnings Per Common Share | $0.27 | $0.27 | $0.55 | $0.55 |
Basic Weighted-Average Number of Shares Outstanding | ' | ' | ' | ' |
Basic Weighted-Average Number of Shares Outstanding | 1,028 | 1,036 | 1,028 | 1,036 |
Diluted Weighted-Average Number of Shares Outstanding | ' | ' | ' | ' |
Diluted Weighted-Average Number of Shares Outstanding | 1,028 | 1,038 | 1,028 | 1,038 |
Dividends Per Common Share Declared for the Period | $0.43 | $0.40 | $0.85 | $0.78 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Kinder Morgan, Inc. | ' | ' | ' | ' |
Net income attributable to KMI | $284 | $277 | $571 | $569 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' |
Change in fair value of derivatives utilized for hedging purposes (net of tax benefit (expense) of $21, $(16), $32 and $(10), respectively) | -37 | 36 | -56 | 20 |
Reclassification of change in fair value of derivatives to net income (net of tax (expense) benefit of $(4), $2, $(7) and $3, respectively) | 6 | -1 | 12 | -5 |
Foreign currency translation adjustments (net of tax (expense) benefit of $(13), $12, $1 and $19, respectively) | 23 | -28 | -2 | -45 |
Adjustments to pension and other postretirement benefit plan liabilities (net of tax benefit (expense) of $1, $(1), $1 and $(1), respectively) | 2 | 1 | 2 | 0 |
Total other comprehensive (loss) income | -6 | 8 | -44 | -30 |
Total comprehensive income | 278 | 285 | 527 | 539 |
Noncontrolling Interests | ' | ' | ' | ' |
Net Income Attributable to Noncontrolling Interests | 213 | 504 | 527 | 868 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' |
Change in fair value of derivatives utilized for hedging purposes (net of tax benefit (expense) of $6, $(5), $9, and $(2) respectively) | -59 | 26 | -85 | 11 |
Reclassification of change in fair value of derivatives to net income (net of tax (expense) benefit of $(1), $1, $(2) and $1, respectively) | 10 | -2 | 18 | -4 |
Foreign currency translation adjustments (net of tax (expense) benefit of $(4), $4, $- and $6, respectively) | 33 | -26 | -4 | -42 |
Adjustments to pension and other postretirement benefit plan liabilities (net of tax benefit of $-, $-, $- and $-, respectively) | 0 | 0 | -1 | 0 |
Total other comprehensive loss | -16 | -2 | -72 | -35 |
Total comprehensive income | 197 | 502 | 455 | 833 |
Total | ' | ' | ' | ' |
Net income | 497 | 781 | 1,098 | 1,437 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' |
Change in fair value of derivatives utilized for hedging purposes (net of tax benefit (expense) of $27, $(21), $41 and $(12), respectively) | -96 | 62 | -141 | 31 |
Reclassification of change in fair value of derivatives to net income (net of tax (expense) benefit of $(5), $3, $(9) and $4, respectively) | 16 | -3 | 30 | -9 |
Foreign currency translation adjustments (net of tax (expense) benefit of $(17), $16, $1 and $25, respectively) | 56 | -54 | -6 | -87 |
Adjustments to pension and other postretirement benefit plan liabilities (net of tax benefit (expense) of $1, $(1), $1, and $(1), respectively) | 2 | 1 | 1 | 0 |
Total other comprehensive (loss) income | -22 | 6 | -116 | -65 |
Total comprehensive income | $475 | $787 | $982 | $1,372 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Kinder Morgan, Inc. | ' | ' | ' | ' |
Change in fair value of derivatives utilized for hedging purposes, tax benefit attributable to KMI | $21 | ($16) | $32 | ($10) |
Reclassification of change in fair value of derivatives to net income, tax expense attributable to KMI | -4 | 2 | -7 | 3 |
Foreign currency translation adjustments, tax expense attributable to KMI | -13 | 12 | 1 | 19 |
Adjustments to pension and other postretirement benefit liabilities, tax benefit attributable to KMI | 1 | -1 | 1 | -1 |
Noncontrolling Interests | ' | ' | ' | ' |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax Attributable To Noncontrolling Interests | 6 | -5 | 9 | -2 |
Other Comprehensive Income Loss Reclassification Adjustment From AOCI On Derivatives Tax Attributable To Noncontrolling Interests | -1 | 1 | -2 | 1 |
Foreign currency translation adjustments, tax expense attributable to noncontrolling interests | -4 | 4 | 0 | 6 |
Adjustments to pension and other postretirement benefit liabilities, tax benefit attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Total | ' | ' | ' | ' |
Change in fair value of derivatives utilized for hedging purposes, tax benefit total | 27 | -21 | 41 | -12 |
Reclassification of change in fair value of derivatives to net income, tax expense total | -5 | 3 | -9 | 4 |
Foreign currency translation adjustments, tax expense total | -17 | 16 | 1 | 25 |
Adjustments to pension and other postretirement benefit plan liabilities, tax benefit total | $1 | ($1) | $1 | ($1) |
CONSOLIDATED_BALANCE_SHEETS_Un
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $363 | $598 |
Accounts, Notes, Loans and Financing Receivable, Net, Current | 1,633 | 1,721 |
Inventory, Net | 460 | 430 |
Deferred income taxes | 329 | 567 |
Other Assets, Current | 582 | 552 |
Assets, Current | 3,367 | 3,868 |
Property, plant and equipment, net (Note 12) | 37,607 | 35,847 |
Investments | 5,862 | 5,951 |
Goodwill (Note 12) | 24,653 | 24,504 |
Other intangibles, net | 2,367 | 2,438 |
Deferred charges and other assets | 2,508 | 2,577 |
Total Assets | 76,364 | 75,185 |
Current Liabilities | ' | ' |
Accounts payable | 1,501 | 1,676 |
Accrued interest | 600 | 565 |
Accrued contingencies | 652 | 584 |
Other current liabilities | 1,111 | 944 |
Total current liabilities | 6,487 | 6,075 |
Long-term debt | ' | ' |
Preferred Stock, Value, Issued | 0 | 0 |
Debt Fair Value Adjustments | 1,973 | 1,977 |
Total long-term debt | 34,521 | 33,887 |
Deferred income taxes | 4,554 | 4,651 |
Deferred Credits and Other Liabilities, Noncurrent | 2,147 | 2,287 |
Liabilities, Noncurrent | 41,222 | 40,825 |
Total Liabilities | 47,709 | 46,900 |
Stockholders’ Equity | ' | ' |
Preferred Stock, Value, Issued | 0 | 0 |
Additional paid-in capital | 14,339 | 14,479 |
Retained deficit | -1,661 | -1,372 |
Accumulated other comprehensive loss | -68 | -24 |
Total Kinder Morgan, Inc.’s stockholders’ equity | 12,620 | 13,093 |
Noncontrolling interests | 16,035 | 15,192 |
Total Stockholders’ Equity | 28,655 | 28,285 |
Total Liabilities and Stockholders’ Equity | 76,364 | 75,185 |
Class P [Member] | ' | ' |
Stockholders’ Equity | ' | ' |
Class P shares, $0.01 par value, 2,000,000,000 shares authorized, 1,027,909,704 and 1,030,677,076 shares, respectively, issued and outstanding | 10 | 10 |
Kinder Morgan, Inc. [Member] | ' | ' |
Current Assets | ' | ' |
Cash and cash equivalents | 50 | 116 |
Property, plant and equipment, net (Note 12) | 2,505 | 2,563 |
Goodwill (Note 12) | 17,910 | 17,935 |
Current Liabilities | ' | ' |
Current Portion of Debt (Note 14) | 1,245 | 725 |
Long-term debt | ' | ' |
Long-term debt excluding preferred interest | 8,088 | 9,221 |
Total long-term debt | 8,188 | 9,321 |
KMP and EPB [Member] | ' | ' |
Current Assets | ' | ' |
Cash and cash equivalents | 313 | 482 |
Current Liabilities | ' | ' |
Current Portion of Debt (Note 14) | 1,378 | 1,581 |
Long-term debt | ' | ' |
Long-term Debt and Capital Lease Obligations | 24,360 | 22,589 |
Kinder Morgan G.P., Inc. [Member] | KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | ' | ' |
Long-term debt | ' | ' |
Preferred Stock, Value, Issued | 100 | 100 |
Stockholders’ Equity | ' | ' |
Preferred Stock, Value, Issued | $100 | $100 |
CONSOLIDATED_BALANCE_SHEETS_Un1
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Stockholders' Equity | ' | ' |
Preferred Stock, Par or Stated Value Per Share | $0.01 | $0.01 |
Class P [Member] | ' | ' |
Stockholders' Equity | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common Stock, Shares Authorized | 2,000,000,000 | 2,000,000,000 |
Common Stock, Shares, Issued | 1,027,909,704 | 1,030,677,076 |
Common Stock, Shares, Outstanding | 1,027,909,704 | 1,030,677,076 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash Flows From Operating Activities | ' | ' |
Net income | $1,098 | $1,437 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' |
Depreciation, depletion and amortization | 998 | 860 |
Deferred income taxes | 208 | 378 |
Amortization of excess cost of equity investments | 21 | 18 |
Gain on remeasurement of previously held equity interest in Eagle Ford Gathering to fair value (Note 2) | 0 | -558 |
Gain on sale of investments in Express pipeline system (Note 2) | 0 | -225 |
Earnings from equity investments | -199 | -194 |
Distributions from equity investment earnings | 184 | 199 |
Proceeds from termination of interest swap agreements | 0 | 96 |
Pension contributions in excess of expense | -50 | -59 |
Changes in components of working capital, net of the effects of acquisitions | ' | ' |
Accounts receivable | 94 | 7 |
Inventories | -24 | -50 |
Other current assets | -36 | -37 |
Accounts payable | -117 | -181 |
Accrued interest | 34 | 14 |
Accrued contingencies and other current liabilities | 101 | -78 |
Rate reparations, refunds and other litigation reserve adjustments | 36 | 177 |
Other, net | -145 | -70 |
Net Cash Provided by Operating Activities | 2,203 | 1,734 |
Cash flows from investing activities | ' | ' |
Acquisitions of assets and investments, net of cash acquired | -993 | -286 |
Capital expenditures | -1,717 | -1,345 |
Proceeds from sales of investments | 0 | 491 |
Contributions to investments | -103 | -93 |
Distributions from equity investments in excess of cumulative earnings | 90 | 78 |
Natural gas storage and natural gas and liquids line-fill | 22 | 0 |
Sale or casualty of property, plant and equipment, and other net assets net of removal costs | 11 | 23 |
Other, net | -17 | 15 |
Net Cash Used in Investing Activities | -2,707 | -1,117 |
Cash flows from financing activities | ' | ' |
Debt issue costs | -29 | -12 |
Cash dividends | -860 | -779 |
Repurchases of shares and warrants | -192 | -131 |
Contributions from noncontrolling interests | 1,395 | 1,077 |
Distributions to noncontrolling interests | -976 | -761 |
Other, net | -1 | 1 |
Net Cash Provided by (Used in) Financing Activities | 273 | -294 |
Effect of Exchange Rate on Cash and Cash Equivalents | -4 | -20 |
Net (decrease) increase in Cash and Cash Equivalents | -235 | 303 |
Cash and Cash Equivalents, beginning of period | 598 | 714 |
Cash and Cash Equivalents, end of period | 363 | 1,017 |
Supplemental Disclosures of Cash Flow Information | ' | ' |
Assets acquired by the assumption or incurrence of liabilities | 73 | 1,490 |
Assets acquired by contributions from noncontrolling interests | 0 | 3,733 |
Cash paid during the period for interest (net of capitalized interest) | 855 | 812 |
Cash paid during the period for income taxes, net | 163 | 71 |
Kinder Morgan, Inc. [Member] | ' | ' |
Cash flows from financing activities | ' | ' |
Proceeds from Issuance of Debt | 2,565 | 989 |
Repayments of Debt | -3,178 | -1,673 |
Cash and Cash Equivalents, beginning of period | 116 | ' |
Cash and Cash Equivalents, end of period | 50 | ' |
KMP and EPB [Member] | ' | ' |
Cash flows from financing activities | ' | ' |
Proceeds from Issuance of Debt | 6,883 | 4,858 |
Repayments of Debt | -5,334 | -3,863 |
Cash and Cash Equivalents, beginning of period | 482 | ' |
Cash and Cash Equivalents, end of period | $313 | ' |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) Statement (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | KMI [Member] | Noncontrolling Interest [Member] | KMP, EPB and KMR [Member] | KMP, EPB and KMR [Member] | KMP, EPB and KMR [Member] | KMP, EPB and KMR [Member] | EP Trust I Preferred [Member] | EP Trust I Preferred [Member] | EP Trust I Preferred [Member] |
In Millions | Additional Paid-in Capital [Member] | KMI [Member] | Noncontrolling Interest [Member] | Additional Paid-in Capital [Member] | KMI [Member] | |||||||||
Total Stockholders' Equity at Dec. 31, 2012 | $24,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | 10,234 | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to KMI at Dec. 31, 2012 | ' | 10 | 14,917 | -943 | -118 | 13,866 | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants repurchased | -131 | ' | -131 | ' | ' | -131 | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of subsidiary equity transactions | ' | ' | ' | ' | ' | ' | ' | -85 | 146 | 146 | -231 | ' | ' | ' |
Net income attributable to KMI | 569 | ' | ' | 569 | ' | 569 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income Attributable to Noncontrolling Interests | 868 | ' | ' | ' | ' | ' | 868 | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,437 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions | -761 | ' | ' | ' | ' | 0 | -761 | ' | ' | ' | ' | ' | ' | ' |
Contributions | 4,810 | ' | ' | ' | ' | 0 | 4,810 | ' | ' | ' | ' | ' | ' | ' |
Dividends, Common Stock, Cash | -779 | ' | ' | -779 | ' | -779 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax, portion attributable to KMI | -30 | ' | ' | ' | -30 | -30 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax, portion attributable to noncontrolling interests | -35 | ' | ' | ' | ' | ' | -35 | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive loss | -65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Warrant Exercises | 1 | ' | 1 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversions of EP Trust I Preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | 2 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | 10 | ' | 10 | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' |
Total Stockholders' Equity at Jun. 30, 2013 | 28,539 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests at Jun. 30, 2013 | ' | ' | ' | ' | ' | ' | 14,885 | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to KMI at Jun. 30, 2013 | ' | 10 | 14,945 | -1,153 | -148 | 13,654 | ' | ' | ' | ' | ' | ' | ' | ' |
Total Stockholders' Equity at Dec. 31, 2013 | 28,285 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests at Dec. 31, 2013 | 15,192 | ' | ' | ' | ' | ' | 15,192 | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to KMI at Dec. 31, 2013 | 13,093 | 10 | 14,479 | -1,372 | -24 | 13,093 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | -94 | ' | -94 | ' | ' | -94 | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants repurchased | -98 | ' | -98 | ' | ' | -98 | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of subsidiary equity transactions | ' | ' | 20 | ' | ' | ' | ' | -11 | 20 | 20 | -31 | ' | ' | ' |
Windfall tax profit | 6 | ' | 6 | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to KMI | 571 | ' | ' | 571 | ' | 571 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income Attributable to Noncontrolling Interests | 527 | ' | ' | ' | ' | ' | 527 | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,098 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions | -976 | ' | ' | ' | ' | 0 | -976 | ' | ' | ' | ' | ' | ' | ' |
Contributions | 1,395 | ' | ' | ' | ' | 0 | 1,395 | ' | ' | ' | ' | ' | ' | ' |
Dividends, Common Stock, Cash | -860 | ' | ' | -860 | ' | -860 | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity, Other | -1 | ' | -1 | ' | ' | -1 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax, portion attributable to KMI | -44 | ' | ' | ' | -44 | -44 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax, portion attributable to noncontrolling interests | -72 | ' | ' | ' | ' | ' | -72 | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive loss | -116 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | 27 | ' | 27 | ' | ' | 27 | ' | ' | ' | ' | ' | ' | ' | ' |
Total Stockholders' Equity at Jun. 30, 2014 | 28,655 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests at Jun. 30, 2014 | 16,035 | ' | ' | ' | ' | ' | 16,035 | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to KMI at Jun. 30, 2014 | $12,620 | $10 | $14,339 | ($1,661) | ($68) | $12,620 | ' | ' | ' | ' | ' | ' | ' | ' |
General_Notes
General (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||
General | ' | |||||||||||||||
General | ||||||||||||||||
Organization | ||||||||||||||||
Kinder Morgan, Inc. is the largest midstream and the fourth largest energy company in North America with a combined enterprise value of approximately $110 billion. We own an interest in or operate approximately 80,000 miles of pipelines and 180 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals transport, transload and store petroleum products, ethanol and chemicals, and handle such products as coal, petroleum coke and steel. We are also the leading producer and transporter of CO2, for enhanced oil recovery projects in North America. | ||||||||||||||||
We own an approximate 10% limited partner interest and the 2% general partner interest in KMP, a leading pipeline transportation and energy storage company and one of the largest publicly-traded pipeline limited partnerships in America. KMP’s limited partner units are traded on the NYSE under the ticker symbol “KMP.” | ||||||||||||||||
We also own an approximate 40% limited partner interest and the 2% general partner interest in EPB, as well as certain natural gas pipeline assets. EPB’s limited partner units are traded on the NYSE under the ticker symbol “EPB.” | ||||||||||||||||
Our common stock trades on the NYSE under the symbol “KMI.” | ||||||||||||||||
KMR is a publicly traded Delaware LLC. KMGP, the general partner of KMP and a wholly-owned subsidiary of ours, owns all of KMR’s voting shares. KMR, pursuant to a delegation of control agreement, has been delegated, to the fullest extent permitted under Delaware law, all of KMGP’s power and authority to manage and control the business and affairs of KMP, subject to KMGP’s right to approve certain transactions. | ||||||||||||||||
Basis of Presentation | ||||||||||||||||
General | ||||||||||||||||
Our reporting currency is U.S. dollars, and all references to dollars are U.S. dollars, except where stated otherwise. Our accompanying unaudited consolidated financial statements have been prepared under the rules and regulations of the United States Securities and Exchange Commission. These rules and regulations conform to the accounting principles contained in the FASB’s Accounting Standards Codification, the single source of GAAP. Under such rules and regulations, all significant intercompany items have been eliminated in consolidation. Additionally, we have condensed or omitted certain information and notes normally included in financial statements prepared in conformity with the Codification. We believe, however, that our disclosures are adequate to make the information presented not misleading. | ||||||||||||||||
Our accompanying unaudited consolidated financial statements reflect normal adjustments, and also recurring adjustments that are, in the opinion of our management, necessary for a fair statement of our financial results for the interim periods. In addition, certain amounts from prior periods have been reclassified to conform to the current presentation (including reclassifications between “Services” and “Product sales and other” within the “Revenues” section of our accompanying consolidated statements of income). Interim results are not necessarily indicative of results for a full year; accordingly, you should read these consolidated financial statements in conjunction with our consolidated financial statements and related notes included in our 2013 Form 10-K. | ||||||||||||||||
Our consolidated financial statements include our accounts and those of our majority-owned and controlled subsidiaries including the accounts of KMP, EPB and KMR. Investments in jointly-owned operations in which we hold a 50% or less interest (other than KMP, EPB and KMR, because we have the ability to exercise significant control over their operating and financial policies) are accounted for under the equity method. | ||||||||||||||||
Notwithstanding the consolidation of KMP and EPB, and their respective subsidiaries, into our financial statements, we are not liable for, and our assets are not available to satisfy, the obligations of KMP and EPB, and/or their respective subsidiaries, and vice versa, except as discussed in Note 10, “Litigation, Environmental and Other Contingencies — Other Contingencies.” Responsibility for payments of obligations reflected in our, KMP or EPB’s financial statements is a legal determination based on the entity that incurs the liability. | ||||||||||||||||
Goodwill | ||||||||||||||||
We evaluate goodwill for impairment on May 31 of each year. There were no impairment charges resulting from our May 31, 2014 impairment testing, and no event indicating an impairment has occurred subsequent to that date. | ||||||||||||||||
Earnings per Share | ||||||||||||||||
We calculate earnings per share using the two-class method. Earnings were allocated to Class P shares of common stock and participating securities based on the amount of dividends paid in the current period plus an allocation of the undistributed earnings or excess distributions over earnings to the extent that each security participates in earnings or excess distributions over earnings. Our unvested restricted stock awards do not participate in excess distributions over earnings. | ||||||||||||||||
The following table sets forth the allocation of net income available to shareholders for Class P shares and for participating securities for the three and six months ended June 30, 2014 and 2013 (in millions): | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Class P | $ | 281 | $ | 276 | $ | 565 | $ | 567 | ||||||||
Participating securities(a) | 3 | 1 | 6 | 2 | ||||||||||||
Net Income Attributable to Kinder Morgan, Inc. | $ | 284 | $ | 277 | $ | 571 | $ | 569 | ||||||||
_______ | ||||||||||||||||
(a) | Participating securities are unvested restricted stock awards issued to management employees that contain non-forfeitable rights to dividend equivalent payments. | |||||||||||||||
For the three and six months ended June 30, 2014 and 2013, the following potential common stock equivalents are antidilutive and, accordingly, are excluded from the determination of diluted earnings per share (in millions on a weighted-average basis): | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Unvested restricted stock awards | 7 | 2 | 7 | 2 | ||||||||||||
Outstanding warrants to purchase our Class P shares | 309 | 420 | 325 | 429 | ||||||||||||
Convertible trust preferred securities | 10 | 10 | 10 | 10 | ||||||||||||
Acquisitions_and_Divestitures_
Acquisitions and Divestitures (Notes) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Acquisitions and Divestitures [Abstract] | ' | ||||
Acquisitions and Divestitures | ' | ||||
Acquisitions and Divestitures | |||||
Acquisitions | |||||
American Petroleum Tankers and State Class Tankers | |||||
Effective January 17, 2014, KMP acquired APT and State Class Tankers (SCT) for aggregate consideration of $961 million in cash (the APT acquisition). APT is engaged in the marine transportation of crude oil, condensate and refined products in the U.S. domestic trade, commonly referred to as the Jones Act trade. APT’s primary assets consist of a fleet of five medium range Jones Act qualified product tankers, each with 330 MBbl of cargo capacity, and each operating pursuant to long-term time charters with high quality counterparties, including major integrated oil companies, major refiners and the U.S. Military Sealift Command. As of the closing date, the vessels’ time charters had an average remaining term of approximately four years, with renewal options to extend the terms by an average of two years. APT’s vessels are operated by Crowley Maritime Corporation. | |||||
SCT has commissioned the construction of four medium range Jones Act qualified product tankers, each with 330 MBbl of cargo capacity. The SCT vessels are scheduled to be delivered in 2015 and 2016 and are being constructed by General Dynamics’ NASSCO shipyard. KMP expects to invest approximately $214 million to complete the construction of these four SCT vessels, and upon delivery, the vessels will be operated pursuant to long-term time charters with a major integrated oil company. Each of the time charters has an initial term of five years, with renewal options to extend the term by up to three years. The APT acquisition complements and extends KMP’s existing crude oil and refined products transportation business, and all of the acquired assets are included in the Terminals—KMP business segment. | |||||
As of June 30, 2014, KMP’s preliminary purchase price allocation related to the APT acquisition, as adjusted to date, is as follows (in millions). The evaluation of the assigned fair values is ongoing and subject to adjustment. | |||||
Purchase Price Allocation: | |||||
Current assets | $ | 6 | |||
Property, plant and equipment | 951 | ||||
Goodwill | 67 | ||||
Other assets | 3 | ||||
Total assets acquired | 1,027 | ||||
Current liabilities | (5 | ) | |||
Unfavorable customer contracts | (61 | ) | |||
Cash consideration | $ | 961 | |||
The “Goodwill” intangible asset amount represents the future economic benefits expected to be derived from KMP’s acquisition that are not assignable to other individually identifiable, separately recognizable assets acquired. We believe the goodwill was primarily generated by the value of the synergies created by expanding KMP’s non-pipeline liquids handling operations. Furthermore, KMP expects to fully deduct for tax purposes the entire amount of goodwill recognized. The “Unfavorable customer contracts” figure represents the amount, on a present value basis, by which the customer contracts were below market day rates at the time of acquisition. This amount is amortized as a noncash adjustment to revenue over the remaining contract period. | |||||
Other | |||||
Effective May 1, 2013, KMP acquired all of Copano’s outstanding units for a total purchase price of approximately $5.2 billion (including assumed debt and all other assumed liabilities). The transaction was a 100% unit for unit transaction with an exchange ratio of 0.4563 of KMP’s common units for each Copano common unit. KMP issued 43,371,210 of its common units valued at $3,733 million as consideration for the Copano acquisition (based on the $86.08 closing market price of a common unit on the NYSE on the May 1, 2013 issuance date). Also, due to the fact that KMP’s Copano acquisition included the remaining 50% interest in Eagle Ford Gathering that it did not already own, KMP remeasured its existing 50% equity investment in Eagle Ford Gathering to its fair value as of the acquisition date. As a result of this remeasurement, we recognized a $558 million non-cash gain, which represented the excess of the investment’s fair value ($704 million) over the carrying value as of May 1, 2013 ($146 million), and we reported this gain separately as “Gain on remeasurement of previously held equity interest in Eagle Ford Gathering to fair value” on our accompanying consolidated statements of income for the three and six months ended June 30, 2013. | |||||
As of June 30, 2014, KMP’s purchase price allocation related to the Copano acquisition is as follows (in millions): | |||||
Purchase Price Allocation: | |||||
Current assets (including cash acquired of $30) | $ | 218 | |||
Property, plant and equipment | 2,788 | ||||
Investments | 300 | ||||
Goodwill | 1,248 | ||||
Other intangibles | 1,375 | ||||
Other assets | 13 | ||||
Total assets | 5,942 | ||||
Less: Fair value of previously held 50% interest in Eagle Ford Gathering | (704 | ) | |||
Total assets acquired | 5,238 | ||||
Current liabilities | (208 | ) | |||
Other liabilities | (28 | ) | |||
Long-term debt | (1,252 | ) | |||
Noncontrolling interests | (17 | ) | |||
Common unit consideration | $ | 3,733 | |||
The table above reflects changes we made in the first six months of 2014 to our preliminary purchase price allocation as of December 31, 2013. Based on our final measurement of fair values for all of the identifiable tangible and intangible assets acquired and liabilities assumed on the acquisition date, we reduced the preliminary value assigned to (i) “Investments” by $87 million; (ii) “Property, plant and equipment, net” by $17 million; and (ii) combined working capital items by $3 million. | |||||
The “Goodwill” intangible asset amount represents the future economic benefits expected to be derived from this acquisition that are not assignable to other individually identifiable, separately recognizable assets acquired. We believe the goodwill was primarily generated by the value of the synergies created by KMP’s expanding natural gas gathering and refined product transportation operations. This goodwill is not deductible for tax purposes and is subject to an impairment test at least annually. The “Other intangibles, net” asset amount represents the fair value of acquired customer contracts and agreements. We are currently amortizing these intangible assets over an estimated remaining useful life of 25 years. | |||||
Our accounting policy is to apply the look-through method of recording deferred taxes on the outside book tax basis differences in our investments without regard to non-tax deductible goodwill. As a result of the goodwill recorded by KMP for its Copano acquisition, KMI’s deferred tax liability and goodwill were decreased by $285 million for the portion of its outside basis difference associated with KMP’s underlying goodwill. | |||||
Effective June 1, 2013, KMP acquired certain oil and gas properties, rights, and related assets located in the Goldsmith Landreth San Andres oil field unit in the Permian Basin of West Texas from Legado Resources LLC for an aggregate consideration of $298 million, consisting of $280 million in cash and assumed liabilities of $18 million (including $12 million of long-term asset retirement obligations). | |||||
For additional information about KMP’s Copano and Goldsmith Landreth acquisitions (including our preliminary purchase price allocations as of December 31, 2013), see Note 3 “Acquisitions and Divestitures—Business Combinations and Acquisitions of Investments” to our consolidated financial statements included in our 2013 Form 10-K. | |||||
Pro Forma Information | |||||
The following summarized unaudited pro forma consolidated income statement information for the six months ended June 30, 2013 assumes that KMP’s acquisitions of (i) APT, (ii) Copano and (iii) the Goldsmith Landreth oil field unit had occurred as of January 1, 2013. We prepared the following summarized unaudited pro forma financial results for comparative purposes only. The summarized unaudited pro forma financial results may not be indicative of the results that would have occurred if these acquisitions had been completed as of January 1, 2013, or the results that will be attained in the future. Amounts presented below are in millions, except for the per share amounts: | |||||
Pro Forma | |||||
Six Months Ended | |||||
June 30, 2013 | |||||
(Unaudited) | |||||
Revenues | $ | 7,196 | |||
Income from Continuing Operations | 1,401 | ||||
Loss from Discontinued Operations, Net of Tax | (2 | ) | |||
Net Income | 1,399 | ||||
Net Income Attributable to Noncontrolling Interests | (855 | ) | |||
Net Income Attributable to Kinder Morgan, Inc. | 544 | ||||
Diluted Earnings per Class P Share | $ | 0.52 | |||
Divestitures | |||||
Express Pipeline System | |||||
Effective March 14, 2013, KMP sold both its one-third equity ownership interest in the Express pipeline system and its subordinated debenture investment in Express to Spectra Energy Corp. KMP received net cash proceeds of $402 million (after paying $1 million in the third quarter of 2013 for both a final working capital settlement and certain transaction-related selling expenses), and we reported the $403 million of proceeds received in the first half of 2013 within “Proceeds from sales of investments” within the investing section of our accompanying consolidated statement of cash flows for the six months ended June 30, 2013. Additionally, we recognized a combined $225 million pre-tax gain with respect to this sale in the first half of 2013, and we reported this gain amount separately as “Gain on sale of investments in Express pipeline system” on our accompanying consolidated statement of income for the six months ended June 30, 2013. We also recorded an income tax expense of $84 million related to this gain on sale for the six months ended June 30, 2013, and we included this expense within “Income Tax Expense.” As of the date of sale, KMP’s equity investment in Express totaled $67 million and its note receivable due from Express totaled $110 million. | |||||
BBPP Holdings Ltda | |||||
On January 18, 2013, we completed the sale of our equity interests in the Bolivia to Brazil Pipeline for $88 million, which amount is included in “Proceeds from sales of investments” within the investing section of our accompanying consolidated statement of cash flows for the six months ended June 30, 2013. | |||||
Drop-down of Assets to EPB | |||||
On May 2, 2014, EPB acquired from us our 50% equity interest in Ruby Pipeline Holding Company, L.L.C. (Ruby), our indirect 50% equity interest in Gulf LNG Holdings Group, L.L.C. (Gulf LNG) and our indirect 47.5% equity interest in Young Gas Storage Company, Ltd in a transaction valued at approximately $2 billion (the “May 2014 drop-down transaction”). The transaction value includes approximately $1 billion of debt as of April 30, 2014, representing 50% of total debt of Ruby and Gulf LNG as of such date and was effective as of the close of business on April 30, 2014. Following the receipt of separate fairness opinions from different investment banks, the terms of this drop-down transaction were approved on our behalf by the independent members of our board of directors and on EPB’s behalf by a conflicts committee comprised of the independent members of EPB’s general partner’s board of directors, and following the recommendation by such conflicts committee, by its general partner’s board of directors. The aggregate consideration of $972 million paid to us in this drop-down transaction consisted of approximately $875 million of cash and 3,059,924 newly issued EPB common units representing limited partner interest in EPB. |
Debt_Debt_Disclosure_Notes
Debt Debt Disclosure (Notes) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||||||||
Debt | |||||||||||||||||
We classify our debt based on the contractual maturity dates of the underlying debt instruments. We defer costs associated with debt issuance over the applicable term. These costs are then amortized as interest expense in our accompanying consolidated statements of income using the effective interest rate method. The following table provides detail on the principal amount of our outstanding debt balances as of June 30, 2014 and December 31, 2013. The table amounts exclude all debt fair value adjustments, including debt discounts and premiums (in millions). | |||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||
KMI | |||||||||||||||||
Senior term loan facilities, variable rate, due May 24, 2015 and May 6, 2017(a) | $ | 650 | $ | 1,528 | |||||||||||||
Senior notes and debentures, 5.00% through 7.45%, due 2015 through 2098 | 1,815 | 1,815 | |||||||||||||||
Senior notes, 6.50% through 8.25%, due 2014 through 2037(b) | 3,623 | 3,830 | |||||||||||||||
Preferred securities, 4.75%, due March 31, 2028(b) | 280 | 280 | |||||||||||||||
Credit facility due May 6, 2019(c) | 820 | 175 | |||||||||||||||
Subsidiary borrowings (as obligor) | |||||||||||||||||
Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036 | 1,636 | 1,636 | |||||||||||||||
EPC Building, LLC, promissory note, 3.967%, due 2014 through 2035 | 457 | 461 | |||||||||||||||
Other miscellaneous debt | 52 | 221 | |||||||||||||||
Total debt — KMI | 9,333 | 9,946 | |||||||||||||||
Less: Current portion of debt — KMI | (1,245 | ) | (725 | ) | |||||||||||||
Total long-term debt outstanding — KMI | 8,088 | 9,221 | |||||||||||||||
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | 100 | 100 | |||||||||||||||
Total long-term debt — KMI(d) | $ | 8,188 | $ | 9,321 | |||||||||||||
KMP and EPB | |||||||||||||||||
KMP | |||||||||||||||||
Senior notes, 2.65% through 9.00%, due 2014 through 2044 | $ | 17,100 | $ | 15,600 | |||||||||||||
Commercial paper borrowings(e) | 513 | 979 | |||||||||||||||
Credit facility due May 1, 2018 | — | — | |||||||||||||||
KMP subsidiary borrowings (as obligor) | |||||||||||||||||
TGP senior notes, 7.00% through 8.375%, due 2016 through 2037 | 1,790 | 1,790 | |||||||||||||||
EPNG senior notes, 5.95% through 8.625%, due 2017 through 2032 | 1,115 | 1,115 | |||||||||||||||
Copano senior notes, 7.125%, due April 1, 2021 | 332 | 332 | |||||||||||||||
Other miscellaneous subsidiary debt | 97 | 98 | |||||||||||||||
Total debt — KMP | 20,947 | 19,914 | |||||||||||||||
Less: Current portion of debt — KMP(f) | (1,337 | ) | (1,504 | ) | |||||||||||||
Total long-term debt — KMP(d) | 19,610 | 18,410 | |||||||||||||||
EPB | |||||||||||||||||
EPPOC | |||||||||||||||||
Senior notes, 4.10% through 7.50%, due 2015 through 2042 | 2,860 | 2,260 | |||||||||||||||
Credit facility due May 27, 2016(g) | — | — | |||||||||||||||
EPB subsidiary borrowings (as obligor) | |||||||||||||||||
Colorado Interstate Gas Company, L.L.C. (CIG), senior notes, 5.95% through 6.85%, due 2015 through 2037 | 475 | 475 | |||||||||||||||
SLNG senior notes, 9.50% through 9.75%, due 2014 through 2016 | 64 | 135 | |||||||||||||||
SNG notes, 4.40% through 8.00%, due 2017 through 2032 | 1,211 | 1,211 | |||||||||||||||
Other financing obligations | 181 | 175 | |||||||||||||||
Total debt — EPB | 4,791 | 4,256 | |||||||||||||||
Less: Current portion of debt — EPB | (41 | ) | (77 | ) | |||||||||||||
Total long-term debt — EPB(d) | 4,750 | 4,179 | |||||||||||||||
Total long-term debt outstanding — KMP and EPB | $ | 24,360 | $ | 22,589 | |||||||||||||
_______ | |||||||||||||||||
(a) | The senior secured term loan facility, due May 24, 2015, was repaid and replaced in May 2014 with a new unsecured senior term loan facility due May 6, 2017 (see “— Credit Facilities” below). | ||||||||||||||||
(b) | On June 30, 2014, El Paso Issuing Corporation, a wholly-owned subsidiary of El Paso Holdco LLC and the corporate co-issuer under certain guaranteed notes, merged with and into El Paso Holdco LLC, a wholly-owned subsidiary of KMI, and immediately thereafter, El Paso Holdco LLC merged with and into KMI pursuant to an internal restructuring transaction. KMI succeeded El Paso Holdco LLC as issuer with respect to these debt obligations. Consequently, El Paso Holdco LLC ceased to be an obligor with respect to approximately $3.6 billion of outstanding senior notes. Therefore, the condensed consolidating financial information that had previously been disclosed in the notes to our consolidated financial statements is no longer required as of June 30, 2014. | ||||||||||||||||
(c) | As of June 30, 2014 and December 31, 2013, the weighted average interest rates on KMI’s credit facility borrowings were 2.16% and 2.67%, respectively. | ||||||||||||||||
(d) | As of June 30, 2014 and December 31, 2013, our “Debt fair value adjustments” increased our combined debt balances by $1,973 million and $1,977 million, respectively. In addition to all unamortized debt discount/premium amounts and purchase accounting on our debt balances, our debt fair value adjustments also include (i) amounts associated with the offsetting entry for hedged debt; and (ii) any unamortized portion of proceeds received from the early termination of interest rate swap agreements. For further information about our debt fair value adjustments, see Note 5 “Risk Management—Debt Fair Value Adjustments.” | ||||||||||||||||
(e) | As of both June 30, 2014 and December 31, 2013, the average interest rate on KMP’s outstanding commercial paper borrowings was 0.28%. The borrowings under KMP’s commercial paper program were used principally to finance the acquisitions and capital expansions, and in the near term, KMP expects that its short-term liquidity and financing needs will be met primarily through borrowings made under its commercial paper program. | ||||||||||||||||
(f) | Amounts include outstanding commercial paper borrowings discussed above in footnote (e). | ||||||||||||||||
(g) | LIBOR plus 1.75%. | ||||||||||||||||
Credit Facilities | |||||||||||||||||
KMI | |||||||||||||||||
On May 2, 2014, KMI’s term loan facility was partially repaid using proceeds from the May 2014 drop-down transaction, resulting in a remaining outstanding balance of $650 million. On May 6, 2014, KMI replaced its previous $1.75 billion, secured revolving credit facility and its term loan facility which were scheduled to mature in December 2014 and May 2015, respectively, with a new $1.75 billion five-year, unsecured revolving credit facility due May 2019 and a new $650 million three-year, term loan facility maturing May 2017. Additionally, as a result of the new unsecured revolving credit and term loan facilities, KMI’s and its wholly-owned subsidiaries’ senior notes are now unsecured. Borrowings under the new revolving credit facility may be used for working capital and general corporate purposes. The credit facility’s financial covenants are similar to those in our previous revolving credit facility, including restrictions on indebtedness, entering into mergers, granting liens and making any dividends if an event of default exists. The covenants also include a maximum ratio of total debt (net of cash on hand) divided by Consolidated EBITDA (as defined in the credit agreement and which includes cash items from operations and distributions received from subsidiaries or investments, and excludes non-cash items) of 4.75 or 5.5 for periods following specified acquisitions. As of June 30, 2014, we were in compliance with all required financial covenants. The new revolving credit facility provides that the margin we will pay with respect to borrowings and the facility fee we will pay on the total commitment will vary based on our senior debt rating. Interest on the new revolving credit facility accrues at KMI’s option at a floating rate equal to either: | |||||||||||||||||
• | the administrative agent’s base rate, plus a margin, which varies depending upon the credit rating of KMI’s long-term senior unsecured debt (the administrative agent’s base rate is a rate equal to the greatest of (i) the Federal Funds Rate, plus 0.50%, (ii) the Prime Rate and (iii) one-month LIBOR plus 1.0%, plus, in each case, an applicable margin between 0.25% and 1.25% per annum); or | ||||||||||||||||
• | LIBOR plus an applicable margin ranging from 1.25% to 2.25% per annum. | ||||||||||||||||
As of June 30, 2014, we had $820 million outstanding under KMI’s $1.75 billion unsecured revolving credit facility and $58 million in letters of credit. Our availability under this facility as of June 30, 2014 was approximately $872 million. | |||||||||||||||||
KMP | |||||||||||||||||
On January 15, 2014, in anticipation of the APT acquisition, KMP entered into a short-term unsecured liquidity facility with KMP as borrower, and UBS as administrative agent. This liquidity facility provided for borrowings of up to $1.0 billion from a syndicate of financial institutions and was scheduled to mature on July 15, 2014. Additionally, in conjunction with the establishment of this liquidity facility, KMP increased its commercial paper program to provide for the issuance of up to $3.7 billion (up from $2.7 billion). KMP made no borrowings under this liquidity facility, and after receiving the cash proceeds from both its February 2014 public offering of senior notes (described following) and its February 2014 public offering of common units (described in Note 4 “Stockholder’s Equity—Noncontrolling Interests—Contributions”), KMP terminated the liquidity facility and decreased its commercial paper program to again provide for the issuance of up to $2.7 billion. | |||||||||||||||||
As of both June 30, 2014 and December 31, 2013, KMP had no borrowings under its $2.7 billion five-year senior unsecured revolving credit facility maturing May 1, 2018. Borrowings under KMP’s revolving credit facility can be used for general partnership purposes and as a backup for KMP’s commercial paper program. Similarly, KMP’s borrowings under its commercial paper program reduce the borrowings allowed under its credit facility. | |||||||||||||||||
As of June 30, 2014, KMP had (i) $513 million of commercial paper borrowings outstanding under its $2.7 billion credit facility; (ii) $205 million in letters of credit; and (iii) $175 million related to a capital contribution commitment to one of its unconsolidated subsidiaries. KMP’s availability under its credit facility as of June 30, 2014 was $1,807 million. | |||||||||||||||||
EPB | |||||||||||||||||
As of June 30, 2014, EPB had no outstanding balance under its revolving credit facility. EPB’s availability under its facility as of June 30, 2014 was $1 billion. | |||||||||||||||||
Long-term Debt Issuances and Repayments | |||||||||||||||||
Following are significant long-term debt issuances and repayments made during the six months ended June 30, 2014: | |||||||||||||||||
KMI | |||||||||||||||||
Issuances | $650 million senior term loan facility due 2017 | ||||||||||||||||
Repayments | $1,528 million senior term loan facility due 2015 | ||||||||||||||||
KMP | |||||||||||||||||
Issuances | $750 million 3.50% notes due 2021 | ||||||||||||||||
$750 million 5.50% notes due 2044 | |||||||||||||||||
EPB (through EPPOC) | |||||||||||||||||
Issuances | $600 million 4.30% notes due 2024 | ||||||||||||||||
Kinder Morgan G.P., Inc. Preferred Shares | |||||||||||||||||
The following table provides information about KMGP’s per share distributions on 100,000 shares of its Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Per share cash distribution declared for the period(a) | $ | 10.423 | $ | 10.545 | $ | 20.756 | $ | 21.014 | |||||||||
Per share cash distribution paid in the period | $ | 10.333 | $ | 10.469 | $ | 20.903 | $ | 21.107 | |||||||||
_______ | |||||||||||||||||
(a) | On July 16, 2014, KMGP declared a distribution for the three months ended June 30, 2014, of $10.423 per share, which will be paid on August 18, 2014 to shareholders of record as of July 31, 2014. |
Stockholders_Equity_Stockholde
Stockholders' Equity Stockholders' Equity (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Stockholders' Equity Attributable to Parent [Abstract] | ' | |||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||||||||||
Stockholders’ Equity | ||||||||||||||||
Common Equity | ||||||||||||||||
As of June 30, 2014, our common equity consisted of our Class P common stock. For additional information regarding our common stock, see Note 10 “Stockholders’ Equity” to our consolidated financial statements included in our 2013 Form 10-K. | ||||||||||||||||
On October 16, 2013, we announced that our board of directors had approved a share and warrant repurchase program authorizing us to repurchase in the aggregate up to $250 million of additional shares or warrants, which purchase was completed as of March 2014. On March 4, 2014 we announced that our board of directors had approved an additional share and warrant repurchase program authorizing us to repurchase in the aggregate up to $100 million of additional shares or warrants. As of June 30, 2014, we had $2 million available for repurchases under the March 4, 2014 repurchase program. | ||||||||||||||||
The following table sets forth the changes in our outstanding shares during the six months ended June 30, 2014 and 2013. | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | 1,030,677,076 | 1,035,668,596 | ||||||||||||||
Shares repurchased and canceled | (2,780,337 | ) | — | |||||||||||||
Shares issued with conversions of EP Trust I Preferred securities | 2,820 | 74,134 | ||||||||||||||
Shares issued for exercised warrants | — | 16,886 | ||||||||||||||
Restricted shares vested | 10,145 | 9,814 | ||||||||||||||
Ending balance | 1,027,909,704 | 1,035,769,430 | ||||||||||||||
Dividends | ||||||||||||||||
Holders of our common stock share equally in any dividend declared by our board of directors, subject to the rights of the holders of any outstanding preferred stock. The following table provides information about our per share dividends. | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Per common share cash dividend declared for the period | $ | 0.43 | $ | 0.4 | $ | 0.85 | $ | 0.78 | ||||||||
Per common share cash dividend paid in the period | $ | 0.42 | $ | 0.38 | $ | 0.83 | $ | 0.75 | ||||||||
Dividends Subsequent to June 30, 2014 | ||||||||||||||||
On July 16, 2014, our board of directors declared a cash dividend of $0.43 per share for the quarterly period ended June 30, 2014, which is payable on August 15, 2014 to shareholders of record as of July 31, 2014. | ||||||||||||||||
Warrants | ||||||||||||||||
Each of our warrants entitles the holder to purchase one share of our common stock for an exercise price of $40 per share, payable in cash or by cashless exercise, at any time until May 25, 2017. For additional information regarding our warrants, see Note 10 “Stockholders’ Equity” to our consolidated financial statements included in our 2013 Form 10-K. | ||||||||||||||||
The table below sets forth the changes in our outstanding warrants during the six months ended June 30, 2014 and 2013. | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | 347,933,107 | 439,809,442 | ||||||||||||||
Warrants repurchased and canceled | (49,783,406 | ) | (25,781,031 | ) | ||||||||||||
Warrants issued with conversions of EP Trust I Preferred securities | 4,315 | 113,317 | ||||||||||||||
Warrants exercised | — | (21,208 | ) | |||||||||||||
Ending balance | 298,154,016 | 414,120,520 | ||||||||||||||
Noncontrolling Interests | ||||||||||||||||
The caption “Noncontrolling interests” in our accompanying consolidated balance sheets consists of interests that we do not own in the following subsidiaries (in millions): | ||||||||||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
KMP | $ | 8,008 | $ | 7,642 | ||||||||||||
EPB | 4,392 | 4,122 | ||||||||||||||
KMR | 3,306 | 3,142 | ||||||||||||||
Other | 329 | 286 | ||||||||||||||
$ | 16,035 | $ | 15,192 | |||||||||||||
Contributions | ||||||||||||||||
The table below shows significant issuances to the public of common units or shares, the net proceeds from the issuances and the use of the proceeds during the six months ended June 30, 2014 by KMP, EPB and KMR (dollars in millions and units and shares in thousands). | ||||||||||||||||
Issuances | Common units/shares | Net proceeds | Use of proceeds | |||||||||||||
(in thousands) | (in millions) | |||||||||||||||
KMP | ||||||||||||||||
Issued under equity distribution agreement with UBS | ||||||||||||||||
2014 | 4,387 | $ | 335 | Reduced borrowings under KMP’s commercial paper program | ||||||||||||
Other issuances | ||||||||||||||||
Feb-14 | 7,935 | $ | 603 | Reduced borrowings under KMP’s commercial paper program that were used to fund KMP's APT acquisition in January 2014 | ||||||||||||
EPB | ||||||||||||||||
Issued under equity distribution agreement with Citigroup | ||||||||||||||||
2014 | 2,385 | $ | 75 | General partnership purposes | ||||||||||||
Other issuances | ||||||||||||||||
May-14 | 7,820 | $ | 242 | Issued to pay a portion of the purchase price for the May 2014 drop-down transaction | ||||||||||||
KMR | ||||||||||||||||
Issued under equity distribution agreement with Credit Suisse | ||||||||||||||||
2014 | 1,334 | $ | 97 | Purchased additional KMP i-units; KMP then used proceeds to reduce borrowings under its commercial paper program | ||||||||||||
The above equity issuances by KMP, EPB and KMR during the six months ended June 30, 2014 had the associated effects of increasing our (i) noncontrolling interests by $1,321 million; (ii) accumulated deferred income taxes by $11 million; and (iii) additional paid-in capital by $20 million. | ||||||||||||||||
Distributions | ||||||||||||||||
The following table provides information about distributions from our noncontrolling interests (in millions except per unit distribution amounts): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
KMP | ||||||||||||||||
Per unit cash distribution declared for the period | $ | 1.39 | $ | 1.32 | $ | 2.77 | $ | 2.62 | ||||||||
Per unit cash distribution paid in the period | $ | 1.38 | $ | 1.3 | $ | 2.74 | $ | 2.59 | ||||||||
Cash distributions paid in the period to the public | $ | 412 | $ | 307 | $ | 807 | $ | 606 | ||||||||
EPB | ||||||||||||||||
Per unit cash distribution declared for the period | $ | 0.65 | $ | 0.63 | $ | 1.3 | $ | 1.25 | ||||||||
Per unit cash distribution paid in the period | $ | 0.65 | $ | 0.62 | $ | 1.3 | $ | 1.23 | ||||||||
Cash distributions paid in the period to the public | $ | 84 | $ | 79 | $ | 167 | $ | 155 | ||||||||
KMR(a) | ||||||||||||||||
Share distributions paid in the period to the public | 2,083,523 | 1,502,562 | 4,036,493 | 3,072,680 | ||||||||||||
_______ | ||||||||||||||||
(a) | KMR’s distributions are paid in the form of additional shares or fractions thereof calculated by dividing the KMP cash distribution per common unit by the average of the market closing prices of a KMR share determined for a ten-trading day period ending on the trading day immediately prior to the ex-dividend date for the shares. Represents share distributions made in the period to noncontrolling interests and excludes 303,291 and 587,579 of shares distributed for the three and six months ended June 30, 2014, respectively, and 224,390 and 458,868 of shares distributed in the three months and six months ended June 30, 2013, respectively, on KMR shares we directly and indirectly own. On July 16, 2014, KMR declared a share distribution of 0.017397 shares per outstanding share, or 2,283,909 shares (of which 1,996,474 shares will be payable to the public), on August 14, 2014 to shareholders of record as of July 31, 2014, based on the $1.39 per common unit distribution declared by KMP. | |||||||||||||||
Distributions Subsequent to June 30, 2014 | ||||||||||||||||
Noncontrolling Interests Distributions | ||||||||||||||||
On July 16, 2014, KMP declared a cash distribution of $1.39 per unit for the quarterly period ended June 30, 2014. The distribution will be paid on August 14, 2014 to KMP’s unitholders of record as of July 31, 2014. | ||||||||||||||||
On July 16, 2014, EPB declared a cash distribution of $0.65 per unit for the quarterly period ended June 30, 2014. The distribution will be paid on August 14, 2014 to EPB’s unitholders of record as of July 31, 2014. |
Risk_Management_Notes
Risk Management (Notes) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Risk Management | ' | ||||||||||||||||||||||||||||
Risk Management | |||||||||||||||||||||||||||||
Certain of our business activities expose us to risks associated with unfavorable changes in the market price of natural gas, NGL and crude oil. We also have exposure to interest rate risk as a result of the issuance of our debt obligations. Pursuant to our management’s approved risk management policy, we use derivative contracts to hedge or reduce our exposure to certain of these risks. | |||||||||||||||||||||||||||||
As part of the EP acquisition, we acquired power forward and swap contracts. We have entered into offsetting positions that eliminate the price risks associated with our power contracts. As part of the May 1, 2013 Copano acquisition, KMP acquired derivative contracts related to natural gas, NGL and crude oil. None of these derivatives are designated as accounting hedges. | |||||||||||||||||||||||||||||
Energy Commodity Price Risk Management | |||||||||||||||||||||||||||||
As of June 30, 2014, KMI and KMP had the following outstanding commodity forward contracts to hedge their forecasted energy commodity purchases and sales: | |||||||||||||||||||||||||||||
Net open position long/(short) | |||||||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (24.2 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (26.1 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | (26.7 | ) | Bcf | ||||||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (0.4 | ) | MMBbl | ||||||||||||||||||||||||||
Crude oil basis | (0.6 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (7.7 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | 0.2 | Bcf | |||||||||||||||||||||||||||
NGL fixed price | (0.8 | ) | MMBbl | ||||||||||||||||||||||||||
As of June 30, 2014, the maximum length of time over which we have hedged our exposure to the variability in future cash flows associated with energy commodity price risk is through December 2018. | |||||||||||||||||||||||||||||
Interest Rate Risk Management | |||||||||||||||||||||||||||||
As of June 30, 2014, KMI and KMP had a combined notional principal amount of $725 million and $5,175 million, respectively, of fixed-to-variable interest rate swap agreements, effectively converting the interest expense associated with certain series of senior notes from fixed rates to variable rates based on an interest rate of LIBOR plus a spread. All of KMI’s and KMP’s swap agreements have termination dates that correspond to the maturity dates of the related series of senior notes and, as of June 30, 2014, the maximum length of time over which we have hedged a portion of our exposure to the variability in the value of this debt due to interest rate risk is through March 15, 2035. | |||||||||||||||||||||||||||||
As of December 31, 2013, KMI and KMP had a combined notional principal amount of $725 million and $4,675 million, respectively, of fixed-to-variable interest rate swap agreements. In February 2014, KMP entered into four separate fixed-to-variable interest rate swap agreements having a combined notional principal amount of $500 million. These agreements effectively convert a portion of the interest expense associated with KMP’s 3.50% senior notes due March 1, 2021, from a fixed rate to a variable rate based on an interest rate of LIBOR plus a spread. | |||||||||||||||||||||||||||||
Fair Value of Derivative Contracts | |||||||||||||||||||||||||||||
The following table summarizes the fair values of our derivative contracts included in our accompanying consolidated balance sheets as of June 30, 2014 and December 31, 2013 (in millions): | |||||||||||||||||||||||||||||
Fair Value of Derivative Contracts | |||||||||||||||||||||||||||||
Asset derivatives | Liability derivatives | ||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | December 31, | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Balance sheet location | Fair value | Fair value | Fair value | Fair value | |||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas and crude derivative contracts | Other current assets/(Other current liabilities) | $ | 6 | $ | 18 | $ | (97 | ) | $ | (33 | ) | ||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 4 | 58 | (72 | ) | (30 | ) | |||||||||||||||||||||||
Subtotal | 10 | 76 | (169 | ) | (63 | ) | |||||||||||||||||||||||
Interest rate swap agreements | Other current assets/(Other current liabilities) | 90 | 87 | — | — | ||||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 211 | 172 | (46 | ) | (116 | ) | |||||||||||||||||||||||
Subtotal | 301 | 259 | (46 | ) | (116 | ) | |||||||||||||||||||||||
Total | 311 | 335 | (215 | ) | (179 | ) | |||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas, crude and NGL derivative contracts | Other current assets/(Other current liabilities) | 4 | 4 | (10 | ) | (5 | ) | ||||||||||||||||||||||
Subtotal | 4 | 4 | (10 | ) | (5 | ) | |||||||||||||||||||||||
Power derivative contracts | Other current assets/(Other current liabilities) | 3 | 7 | (49 | ) | (54 | ) | ||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 4 | 11 | (43 | ) | (73 | ) | |||||||||||||||||||||||
Subtotal | 7 | 18 | (92 | ) | (127 | ) | |||||||||||||||||||||||
Total | 11 | 22 | (102 | ) | (132 | ) | |||||||||||||||||||||||
Total derivatives | $ | 322 | $ | 357 | $ | (317 | ) | $ | (311 | ) | |||||||||||||||||||
Debt Fair Value Adjustments | |||||||||||||||||||||||||||||
The offsetting entry to adjust the carrying value of the debt securities whose fair value was being hedged is included within “Debt fair value adjustments” on our accompanying consolidated balance sheets. Our “Debt fair value adjustments” also include all unamortized debt discount/premium amounts, purchase accounting on our debt balances, and any unamortized portion of proceeds received from the early termination of interest rate swap agreements. As of June 30, 2014 and December 31, 2013, these fair value adjustments to our debt balances included (i) $1,302 million and $1,379 million, respectively, associated with fair value adjustments to our debt previously recorded in purchase accounting; (ii) $255 million and $143 million, respectively, associated with the offsetting entry for hedged debt; (iii) $485 million and $517 million, respectively, associated with unamortized premium from the termination of interest rate swap agreements; and offset by (iv) $69 million and $62 million, respectively, associated with unamortized debt discount amounts. As of June 30, 2014, the weighted-average amortization period of the unamortized premium from the termination of the interest rate swaps was approximately 16 years. | |||||||||||||||||||||||||||||
Effect of Derivative Contracts on the Income Statement | |||||||||||||||||||||||||||||
The following three tables summarize the impact of our derivative contracts on our accompanying consolidated statements of income for each of the three and six months ended June 30, 2014 and 2013 (in millions): | |||||||||||||||||||||||||||||
Derivatives in fair value hedging relationships | Location of gain/(loss) recognized in income on derivatives | Amount of gain/(loss) recognized in income | |||||||||||||||||||||||||||
on derivatives and related hedged item(a) | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Interest rate swap agreements | Interest expense | $ | 57 | $ | (219 | ) | $ | 112 | $ | (307 | ) | ||||||||||||||||||
Total | $ | 57 | $ | (219 | ) | $ | 112 | $ | (307 | ) | |||||||||||||||||||
Fixed rate debt | Interest expense | $ | (57 | ) | $ | 219 | $ | (112 | ) | $ | 307 | ||||||||||||||||||
Total | $ | (57 | ) | $ | 219 | $ | (112 | ) | $ | 307 | |||||||||||||||||||
_______ | |||||||||||||||||||||||||||||
(a) | Amounts reflect the change in the fair value of interest rate swap agreements and the change in the fair value of the associated fixed rate debt, which exactly offset each other as a result of no hedge ineffectiveness. | ||||||||||||||||||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain/(loss) | Location of gain/(loss) reclassified from Accumulated other comprehensive income into income (effective portion) | Amount of gain/(loss) reclassified from Accumulated other comprehensive income | Location of gain/(loss) recognized in income on | Amount of gain/(loss) | ||||||||||||||||||||||||
recognized in Other comprehensive income | into income (effective portion)(b) | derivative (ineffective portion and amount excluded from | recognized in income | ||||||||||||||||||||||||||
on derivative (effective portion)(a) | effectiveness testing) | on derivative | |||||||||||||||||||||||||||
(ineffective portion | |||||||||||||||||||||||||||||
and amount | |||||||||||||||||||||||||||||
excluded from | |||||||||||||||||||||||||||||
effectiveness testing) | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Three Months Ended June 30, | Three Months Ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Energy commodity | $ | (88 | ) | $ | 55 | Revenues—Natural | $ | — | $ | — | Revenues—Natural | $ | — | $ | — | ||||||||||||||
derivative contracts | gas sales | gas sales | |||||||||||||||||||||||||||
Revenues—Product | (19 | ) | 8 | Revenues—Product | (27 | ) | 9 | ||||||||||||||||||||||
sales and other | sales and other | ||||||||||||||||||||||||||||
Costs of sales | 5 | (5 | ) | Costs of sales | — | — | |||||||||||||||||||||||
Interest rate swap | (8 | ) | 7 | Interest expense | (2 | ) | — | Interest expense | — | — | |||||||||||||||||||
agreements | |||||||||||||||||||||||||||||
Total | $ | (96 | ) | $ | 62 | Total | $ | (16 | ) | $ | 3 | Total | $ | (27 | ) | $ | 9 | ||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain/(loss) | Location of gain/(loss) reclassified from Accumulated other comprehensive income into income (effective portion) | Amount of gain/(loss) reclassified from | Location of gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (ineffective portion and amount | ||||||||||||||||||||||||
recognized in Other comprehensive income | Accumulated other comprehensive income | excluded from | |||||||||||||||||||||||||||
on derivative (effective portion)(a) | into income | effectiveness testing) | |||||||||||||||||||||||||||
(effective portion)(b) | |||||||||||||||||||||||||||||
Six Months Ended June 30, | Six Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Energy commodity | $ | (131 | ) | $ | 23 | Revenues—Natural | $ | (9 | ) | $ | — | Revenues—Natural | $ | — | $ | — | |||||||||||||
derivative contracts | gas sales | gas sales | |||||||||||||||||||||||||||
Revenues—Product | (25 | ) | 13 | Revenues—Product | (32 | ) | 6 | ||||||||||||||||||||||
sales and other | sales and other | ||||||||||||||||||||||||||||
Costs of sales | 6 | (5 | ) | Costs of sales | — | — | |||||||||||||||||||||||
Interest rate swap | (10 | ) | 8 | Interest expense | (2 | ) | 1 | Interest expense | — | — | |||||||||||||||||||
agreements | |||||||||||||||||||||||||||||
Total | $ | (141 | ) | $ | 31 | Total | $ | (30 | ) | $ | 9 | Total | $ | (32 | ) | $ | 6 | ||||||||||||
_________ | |||||||||||||||||||||||||||||
(a) | We expect to reclassify an approximate $49 million loss associated with energy commodity price risk management activities included in our accumulated other comprehensive loss and noncontrolling interest balances as of June 30, 2014 into earnings during the next twelve months (when the associated forecasted sales and purchases are also expected to occur), however, actual amounts reclassified into earnings could vary materially as a result of changes in market prices. | ||||||||||||||||||||||||||||
(b) | Amounts reclassified were the result of the hedged forecasted transactions actually affecting earnings (i.e., when the forecasted sales and purchases actually occurred). | ||||||||||||||||||||||||||||
Derivatives not designated as accounting hedges | Location of gain/(loss) recognized in income on derivatives | Amount of gain/(loss) recognized in income on derivatives | |||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Energy commodity derivative contracts | Revenues—Natural gas sales | $ | (9 | ) | $ | 1 | $ | (16 | ) | $ | 2 | ||||||||||||||||||
Revenues—Product sales and other | 2 | (5 | ) | 1 | (3 | ) | |||||||||||||||||||||||
Costs of sales | (3 | ) | — | 7 | — | ||||||||||||||||||||||||
Other expense(income) | — | — | (2 | ) | — | ||||||||||||||||||||||||
Total | $ | (10 | ) | $ | (4 | ) | $ | (10 | ) | $ | (1 | ) | |||||||||||||||||
Credit Risks | |||||||||||||||||||||||||||||
We and our subsidiary, KMP, have counterparty credit risk as a result of our use of financial derivative contracts. Our counterparties consist primarily of financial institutions, major energy companies, natural gas and electric utilities, and local distribution companies. This concentration of counterparties may impact our overall exposure to credit risk, either positively or negatively, in that the counterparties may be similarly affected by changes in economic, regulatory or other conditions. | |||||||||||||||||||||||||||||
We maintain credit policies with regard to our counterparties that we believe minimize our overall credit risk. These policies include (i) an evaluation of potential counterparties’ financial condition; (ii) collateral requirements under certain circumstances; and (iii) the use of standardized agreements which allow for netting of positive and negative exposure associated with a single counterparty. Based on our policies, exposure, credit and other reserves, our management does not anticipate a material adverse effect on our financial position, results of operations, or cash flows as a result of counterparty performance. | |||||||||||||||||||||||||||||
Our OTC swaps and options are entered into with counterparties outside central trading organizations such as futures, options or stock exchanges. These contracts are with a number of parties, all of which have investment grade credit ratings. While we enter into derivative transactions with investment grade counterparties and actively monitor their ratings, it is nevertheless possible that, from time to time, losses will result from counterparty credit risk in the future. | |||||||||||||||||||||||||||||
In conjunction with the purchase of exchange-traded derivative contracts or when the market value of our derivative contracts with specific counterparties exceeds established limits, we are required to provide collateral to our counterparties, which may include posting letters of credit or placing cash in margin accounts. As of both June 30, 2014 and December 31, 2013, KMP had no outstanding letters of credit supporting its hedging of energy commodity price risks associated with the sale of natural gas, NGL and crude oil. As of both June 30, 2014 and December 31, 2013, KMI had $167 million of outstanding letters of credit supporting its commodity price risks associated with the sale of natural gas and power. | |||||||||||||||||||||||||||||
KMP and KMI also have agreements with certain counterparties to their derivative contracts that contain provisions requiring us to post additional collateral upon a decrease in their credit rating. As of June 30, 2014, we estimate that if KMP’s credit rating was downgraded one notch, KMP would be required to post no additional collateral to its counterparties. If KMP was downgraded two notches (that is, below investment grade), KMP would be required to post $122 million of additional collateral. As of June 30, 2014, we estimate that if KMI’s credit rating was downgraded one or two notches, KMI would be required to post no additional collateral to its counterparties. | |||||||||||||||||||||||||||||
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income | |||||||||||||||||||||||||||||
Cumulative revenues, expenses, gains and losses that under GAAP are included within our comprehensive income but excluded from our earnings are reported as “Accumulated other comprehensive loss” within “Stockholders’ Equity” in our consolidated balance sheets. Changes in the components of our “Accumulated other comprehensive loss” for the six months ended June 30, 2014 and 2013 are summarized as follows (in millions): | |||||||||||||||||||||||||||||
Net unrealized | Foreign | Pension and | Total | ||||||||||||||||||||||||||
gains/(losses) | currency | other | accumulated other | ||||||||||||||||||||||||||
on cash flow | translation | postretirement | comprehensive loss | ||||||||||||||||||||||||||
hedge derivatives | adjustments | liability adjustments | |||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | (3 | ) | $ | 2 | $ | (23 | ) | $ | (24 | ) | ||||||||||||||||||
Other comprehensive loss before reclassifications | (56 | ) | (2 | ) | 2 | (56 | ) | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | 12 | — | — | 12 | |||||||||||||||||||||||||
Net current-period other comprehensive loss | (44 | ) | (2 | ) | 2 | (44 | ) | ||||||||||||||||||||||
Balance as of June 30, 2014 | $ | (47 | ) | $ | — | $ | (21 | ) | $ | (68 | ) | ||||||||||||||||||
Net unrealized | Foreign | Pension and | Total | ||||||||||||||||||||||||||
gains/(losses) | currency | other | accumulated other | ||||||||||||||||||||||||||
on cash flow | translation | postretirement | comprehensive loss | ||||||||||||||||||||||||||
hedge derivatives | adjustments | liability adjustments | |||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 7 | $ | 51 | $ | (176 | ) | $ | (118 | ) | |||||||||||||||||||
Other comprehensive loss before reclassifications | 20 | (45 | ) | — | (25 | ) | |||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (5 | ) | — | — | (5 | ) | |||||||||||||||||||||||
Net current-period other comprehensive loss | 15 | (45 | ) | — | (30 | ) | |||||||||||||||||||||||
Balance as of June 30, 2013 | $ | 22 | $ | 6 | $ | (176 | ) | $ | (148 | ) | |||||||||||||||||||
Fair_Value_Notes
Fair Value (Notes) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||
Fair Value | ' | |||||||||||||||||||||||||||
Fair Value | ||||||||||||||||||||||||||||
The fair values of our financial instruments are separated into three broad levels (Levels 1, 2 and 3) based on our assessment of the availability of observable market data and the significance of non-observable data used to determine fair value. Each fair value measurement must be assigned to a level corresponding to the lowest level input that is significant to the fair value measurement in its entirety. | ||||||||||||||||||||||||||||
The three broad levels of inputs defined by the fair value hierarchy are as follows: | ||||||||||||||||||||||||||||
• | Level 1 Inputs—quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; | |||||||||||||||||||||||||||
• | Level 2 Inputs—inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability; and | |||||||||||||||||||||||||||
• | Level 3 Inputs—unobservable inputs for the asset or liability. These unobservable inputs reflect the entity’s own assumptions about the assumptions that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances (which might include the reporting entity’s own data). | |||||||||||||||||||||||||||
Fair Value of Derivative Contracts | ||||||||||||||||||||||||||||
The following two tables summarize the fair value measurements of our (i) energy commodity derivative contracts and (ii) interest rate swap agreements as of June 30, 2014 and December 31, 2013, based on the three levels established by the Codification. Also, certain of our derivative contracts are subject to master netting agreements. The following tables present our derivative contracts subject to such netting agreements as of June 30, 2014 and December 31, 2013 (in millions): | ||||||||||||||||||||||||||||
Balance Sheet asset | Amounts not offset in the Balance Sheet | Net amount | ||||||||||||||||||||||||||
fair value measurements using | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Financial instruments | Cash collateral held(b) | |||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 3 | $ | 7 | $ | 11 | $ | 21 | $ | (19 | ) | $ | — | $ | 2 | |||||||||||||
Interest rate swap agreements | $ | — | $ | 301 | $ | — | $ | 301 | $ | (22 | ) | $ | — | $ | 279 | |||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 4 | $ | 46 | $ | 48 | $ | 98 | $ | (62 | ) | $ | — | $ | 36 | |||||||||||||
Interest rate swap agreements | $ | — | $ | 259 | $ | — | $ | 259 | $ | (28 | ) | $ | — | $ | 231 | |||||||||||||
Balance Sheet liability | Amounts not offset in the Balance Sheet | Net amount | ||||||||||||||||||||||||||
fair value measurements using | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Financial instruments | Collateral posted(c) | |||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (10 | ) | $ | (134 | ) | $ | (127 | ) | $ | (271 | ) | $ | 19 | $ | 17 | $ | (235 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (46 | ) | $ | — | $ | (46 | ) | $ | 22 | $ | — | $ | (24 | ) | |||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (6 | ) | $ | (31 | ) | $ | (158 | ) | $ | (195 | ) | $ | 62 | $ | 17 | $ | (116 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (116 | ) | $ | — | $ | (116 | ) | $ | 28 | $ | — | $ | (88 | ) | |||||||||||
_______ | ||||||||||||||||||||||||||||
(a) | Level 1 consists primarily of New York Mercantile Exchange natural gas futures. Level 2 consists primarily of OTC WTI swaps. Level 3 consists primarily of WTI options, NGL options and power derivative contracts. | |||||||||||||||||||||||||||
(b) | Cash margin deposits held by KMP associated with its energy commodity contract positions and OTC swap agreements and reported within “Other current liabilities” on our accompanying consolidated balance sheets. | |||||||||||||||||||||||||||
(c) | Cash margin deposits posted by KMP associated with energy commodity contract positions and OTC swap agreements and reported within “Other current assets” on our accompanying consolidated balance sheets. | |||||||||||||||||||||||||||
The table below provides a summary of changes in the fair value of our Level 3 energy commodity derivative contracts for each of the three and six months ended June 30, 2014 and 2013 (in millions): | ||||||||||||||||||||||||||||
Significant unobservable inputs (Level 3) | ||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Derivatives-net asset (liability) | ||||||||||||||||||||||||||||
Beginning of Period | $ | (100 | ) | $ | (142 | ) | $ | (110 | ) | $ | (155 | ) | ||||||||||||||||
Total gains or (losses) | ||||||||||||||||||||||||||||
Included in earnings | (21 | ) | (6 | ) | (14 | ) | (1 | ) | ||||||||||||||||||||
Included in other comprehensive loss | (9 | ) | 1 | (10 | ) | — | ||||||||||||||||||||||
Purchases(a) | — | 18 | — | 18 | ||||||||||||||||||||||||
Settlements | 14 | 15 | 18 | 24 | ||||||||||||||||||||||||
End of Period | $ | (116 | ) | $ | (114 | ) | $ | (116 | ) | $ | (114 | ) | ||||||||||||||||
The amount of total gains or (losses) for the period included in earnings attributable to the change in unrealized gains or (losses) relating to assets held at the reporting date | $ | (13 | ) | $ | 1 | $ | (16 | ) | $ | 4 | ||||||||||||||||||
_______ | ||||||||||||||||||||||||||||
(a) | Three and six month 2013 amounts represent the purchase of Level 3 energy commodity derivative contracts associated with KMP’s May 1, 2013 Copano acquisition. | |||||||||||||||||||||||||||
As of June 30, 2014, our Level 3 derivative assets and liabilities consisted primarily of WTI options, NGL options and power derivative contracts, where a significant portion of fair value is calculated from underlying market data that is not readily observable. The derived values use industry standard methodologies that may consider the historical relationships among various commodities, modeled market prices, time value, volatility factors and other relevant economic measures. The use of these inputs results is our management’s best estimate of fair value. | ||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||
The estimated fair value of our outstanding debt balances (both short-term and long-term and including debt fair value adjustments), is disclosed below (in millions): | ||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||
value | fair value | value | fair value | |||||||||||||||||||||||||
Total debt | $ | 37,144 | $ | 38,484 | $ | 36,193 | $ | 36,248 | ||||||||||||||||||||
We used Level 2 input values to measure the estimated fair value of our outstanding debt balances as of both June 30, 2014 and December 31, 2013. |
Reportable_Segments_Notes
Reportable Segments (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Reportable Segments | ' | |||||||||||||||
Reportable Segments | ||||||||||||||||
We operate the following reportable business segments. These segments and their principal sources of revenues are as follows: | ||||||||||||||||
• | Natural Gas Pipelines—the sale, transport, processing, treating, fractionation, storage and gathering of natural gas and NGL; | |||||||||||||||
• | CO2—KMP—the production, sale and transportation of crude oil from fields in the Permian Basin of West Texas and the production, transportation and marketing of CO2 used as a flooding medium for recovering crude oil from mature oil fields; | |||||||||||||||
• | Products Pipelines—KMP— the transportation and terminaling of refined petroleum products (including gasoline, diesel fuel and jet fuel), NGL, crude oil and condensate, and bio-fuels; | |||||||||||||||
• | Terminals—KMP—the transportation, transloading and storing of refined petroleum products, crude oil, condensate, and bulk products, including coal, petroleum coke, cement, alumina, salt and other bulk chemicals; | |||||||||||||||
• | Kinder Morgan Canada—KMP—the transportation of crude oil and refined products from Alberta, Canada to marketing terminals and refineries in British Columbia, and the state of Washington. As further described in Note 2, Kinder Morgan Canada divested its interest in the Express pipeline system effective March 14, 2013; and | |||||||||||||||
• | Other—primarily includes other miscellaneous assets and liabilities purchased in our 2012 EP acquisition including (i) our corporate headquarters in Houston, Texas; (ii) several physical natural gas contracts with power plants associated with EP’s legacy trading activities; and (iii) other miscellaneous EP assets and liabilities. | |||||||||||||||
We evaluate performance principally based on each segment’s EBDA (including amortization of excess cost of equity investments), which excludes general and administrative expenses, third-party debt costs and interest expense, unallocable interest income, and unallocable income tax expense. Our reportable segments are strategic business units that offer different products and services, and they are structured based on how our chief operating decision makers organize their operations for optimal performance and resource allocation. Each segment is managed separately because each segment involves different products and marketing strategies. Financial information by segment follows (in millions): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Revenues | ||||||||||||||||
Natural Gas Pipelines | ||||||||||||||||
Revenues from external customers | $ | 2,464 | $ | 2,054 | 5,021 | 3,809 | ||||||||||
Intersegment revenues | 1 | — | 5 | 1 | ||||||||||||
CO2–KMP | 454 | 460 | 937 | 889 | ||||||||||||
Products Pipelines–KMP | 524 | 443 | 1,058 | 897 | ||||||||||||
Terminals–KMP | ||||||||||||||||
Revenues from external customers | 420 | 343 | 811 | 680 | ||||||||||||
Intersegment revenues | 1 | 1 | 1 | 1 | ||||||||||||
Kinder Morgan Canada–KMP | 68 | 75 | 137 | 147 | ||||||||||||
Other | (2 | ) | (2 | ) | 2 | 2 | ||||||||||
Total segment revenues | 3,930 | 3,374 | 7,972 | 6,426 | ||||||||||||
Other revenues | 9 | 9 | 18 | 18 | ||||||||||||
Less: Total intersegment revenues | (2 | ) | (1 | ) | (6 | ) | (2 | ) | ||||||||
Total consolidated revenues | $ | 3,937 | $ | 3,382 | $ | 7,984 | $ | 6,442 | ||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Segment EBDA(a) | ||||||||||||||||
Natural Gas Pipelines(b) | $ | 955 | $ | 1,424 | $ | 2,026 | $ | 2,323 | ||||||||
CO2–KMP | 332 | 358 | 695 | 700 | ||||||||||||
Products Pipelines–KMP(c) | 202 | 12 | 410 | 197 | ||||||||||||
Terminals–KMP | 233 | 206 | 447 | 392 | ||||||||||||
Kinder Morgan Canada–KMP(d) | 40 | 50 | 88 | 243 | ||||||||||||
Other | — | -5 | 7 | (1 | ) | |||||||||||
Total segment EBDA | 1,762 | 2,045 | 3,673 | 3,854 | ||||||||||||
Total segment DD&A expense | (502 | ) | (445 | ) | (998 | ) | (860 | ) | ||||||||
Total segment amortization of excess cost of investments | (11 | ) | (9 | ) | (21 | ) | (18 | ) | ||||||||
Other revenues | 9 | 9 | 18 | 18 | ||||||||||||
General and administrative expense | (154 | ) | (183 | ) | (326 | ) | (323 | ) | ||||||||
Interest expense, net of unallocable interest income | (444 | ) | (428 | ) | (894 | ) | (837 | ) | ||||||||
Unallocable income tax expense | (163 | ) | (208 | ) | (354 | ) | (395 | ) | ||||||||
Loss from discontinued operations, net of tax | — | — | — | (2 | ) | |||||||||||
Total consolidated net income | $ | 497 | $ | 781 | $ | 1,098 | $ | 1,437 | ||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Assets | ||||||||||||||||
Natural Gas Pipelines | $ | 52,081 | $ | 52,357 | ||||||||||||
CO2–KMP | 4,761 | 4,708 | ||||||||||||||
Products Pipelines–KMP | 6,927 | 6,648 | ||||||||||||||
Terminals–KMP | 8,340 | 6,888 | ||||||||||||||
Kinder Morgan Canada–KMP | 1,690 | 1,677 | ||||||||||||||
Other | 522 | 568 | ||||||||||||||
Total segment assets | 74,321 | 72,846 | ||||||||||||||
Corporate assets(e) | 2,043 | 2,339 | ||||||||||||||
Total consolidated assets | $ | 76,364 | $ | 75,185 | ||||||||||||
_______ | ||||||||||||||||
(a) | Includes revenues, earnings from equity investments, allocable interest income, and other, net, less operating expenses, allocable income taxes, and other income, net. Operating expenses include natural gas purchases and other costs of sales, operations and maintenance expenses, and taxes, other than income taxes. | |||||||||||||||
(b) | Three and six month 2013 amounts include a $558 million non-cash gain from the remeasurement of KMP’s previously held equity interest in Eagle Ford Gathering to fair value. See Note 2 for further discussion. | |||||||||||||||
(c) | Three and six month 2013 amounts include increases in operating expense of $162 million and $177 million, respectively, associated with adjustments to legal liabilities related to both transportation rate case and environmental matters. | |||||||||||||||
(d) | Six month 2013 amount includes a $141 million increase in earnings from the after-tax gain on the sale of KMP’s investments in the Express pipeline system. | |||||||||||||||
(e) | Includes cash and cash equivalents, margin and restricted deposits, unallocable interest receivable, prepaid assets and deferred charges, risk management assets related to debt fair value adjustments and miscellaneous corporate assets (such as information technology and telecommunications equipment) not allocated to individual segments. |
Pension_and_Other_Postretireme
Pension and Other Postretirement Benefit Plans (Notes) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | |||||||||||||||||||||||||||||||
Pension and Other Postretirement Benefit Plans | ||||||||||||||||||||||||||||||||
The components of net benefit plan (credit) expense for our pension and other postretirement benefit (OPEB) plans are as follows (in millions): | ||||||||||||||||||||||||||||||||
Pension Benefits | OPEB | Pension Benefits | OPEB | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Three Months Ended June 30, | Six Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Service cost | $ | 6 | $ | 6 | $ | — | $ | — | $ | 13 | $ | 12 | $ | — | $ | — | ||||||||||||||||
Interest cost | 28 | 23 | 6 | 6 | 55 | 46 | 13 | 11 | ||||||||||||||||||||||||
Expected return on assets | (43 | ) | (44 | ) | (6 | ) | (5 | ) | (86 | ) | (88 | ) | (12 | ) | (10 | ) | ||||||||||||||||
Amortization of prior service costs (credits) | — | 1 | (1 | ) | — | — | 1 | (2 | ) | — | ||||||||||||||||||||||
Amortization of net actuarial loss | — | — | 1 | 1 | — | — | 1 | 2 | ||||||||||||||||||||||||
Settlement gain(a) | — | — | — | — | — | (3 | ) | — | — | |||||||||||||||||||||||
Net benefit plan (credit) expense | $ | (9 | ) | $ | (14 | ) | $ | — | $ | 2 | $ | (18 | ) | $ | (32 | ) | $ | — | $ | 3 | ||||||||||||
_______ | ||||||||||||||||||||||||||||||||
(a) | Reflects the gain recognized upon the February 2013 settlement of our obligations under the El Paso Supplemental Executive Retirement Plan. |
Income_Taxes_Notes
Income Taxes (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ||||||||||||||||
Income taxes from continuing operations included in our accompanying consolidated statements of income were as follows (in millions, except percentages): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income tax expense | $ | 178 | $ | 225 | $ | 378 | $ | 504 | ||||||||
Effective tax rate | 26 | % | 22 | % | 26 | % | 26 | % | ||||||||
Tax expense from income from continuing operations for the three months ended June 30, 2014 is approximately $178 million resulting in an effective tax rate of 26% for continuing operations, as compared with $225 million tax expense and an effective tax rate of 22%, for the same period of 2013. The effective tax rate for the three months ended June 30, 2014 is lower than the statutory federal rate of 35% primarily due to (i) the net effect of consolidating KMP and EPB’s income tax provision; (ii) dividend-received deductions from our 50% interest in Florida Gas Pipeline (through our investment in Citrus, LLC); and (iii) adjustments to KMI’s income tax reserve for uncertain tax positions. These decreases are partially offset by (i) state income taxes; and (ii) the amortization of the deferred charge recorded as a result of the August 2012 and March 2013 drop-down transactions to KMP. | ||||||||||||||||
Tax expense from income from continuing operations for the six months ended June 30, 2014 is approximately $378 million resulting in an effective tax rate of 26% for continuing operations, as compared with $504 million tax expense and an effective tax rate of 26% for the same period of 2013. The effective tax rate for the six months ended June 30, 2014 is lower than the statutory federal rate of 35% primarily due to (i) the net effect of consolidating KMP and EPB’s income tax provision; and (ii) dividend-received deductions from our 50% interest in Florida Gas Pipeline (through our investment in Citrus, LLC). These decreases are partially offset by (i) state income taxes; and (ii) the amortization of the deferred charge recorded as a result of the August 2012 and March 2013 drop-down transactions to KMP. | ||||||||||||||||
The effective tax rate for the three months ended June 30, 2013 is lower than the statutory federal rate of 35% primarily due to (i) the net effect of consolidating KMP and EPB’s income tax provisions; (ii) dividend-received deductions from our 50% investment in Florida Gas Pipeline; and (iii) the tax impact of a decrease in the deferred state tax rate as a result of the acquisition of Copano. These decreases are partially offset by state income taxes and a change in nondeductible goodwill related to our investment in KMP. | ||||||||||||||||
The effective tax rate for the six months ended June 30, 2013 is lower than the statutory federal rate of 35% primarily due to (i) the net effect of consolidating KMP and EPB’s income tax provisions; (ii) dividend-received deductions from our 50% investment in Florida Gas Pipeline; and (iii) the tax impact of a decrease in the deferred state tax rate as a result of the drop-down of our 50% ownership interests in EPNG and EP midstream assets and KMP’s acquisition of Copano. These decreases are partially offset by state income taxes and a change in nondeductible goodwill related to our investment in KMP. |
Litigation_Environmental_and_O
Litigation, Environmental and Other Contingencies (Notes) | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Litigation, Environmental and Other Contingencies | ' |
Litigation, Environmental and Other Contingencies | |
We and our subsidiaries are parties to various legal, regulatory and other matters arising from the day-to-day operations of our businesses that may result in claims against the Company. Although no assurance can be given, we believe, based on our experiences to date and taking into account established reserves, that the ultimate resolution of such items will not have a material adverse impact on our business, financial position, results of operations or dividends to our shareholders. We believe we have meritorious defenses to the matters to which we are a party and intend to vigorously defend the Company. When we determine a loss is probable of occurring and is reasonably estimable, we accrue an undiscounted liability for such contingencies based on our best estimate using information available at that time. If the estimated loss is a range of potential outcomes and there is no better estimate within the range, we accrue the amount at the low end of the range. We disclose contingencies where an adverse outcome may be material, or in the judgment of management, we conclude the matter should otherwise be disclosed. | |
Federal Energy Regulatory Commission Proceedings | |
The tariffs and rates charged by SFPP and EPNG are subject to a number of ongoing proceedings at the FERC. A substantial portion of our legal reserves relate to these FERC cases and the CPUC cases described below them. | |
SFPP | |
The tariffs and rates charged by SFPP are subject to a number of ongoing proceedings at the FERC, including the complaints and protests of various shippers. In general, these complaints and protests allege the rates and tariffs charged by SFPP are not just and reasonable under the Interstate Commerce Act (ICA). In late June of 2014, certain shippers filed complaints with the FERC (docketed at OR14-35 and OR14-36) challenging SFPP’s adjustments to its rates in 2012 and 2013 for inflation under the FERC’s indexing regulations. If the shippers are successful in proving these claims or other of their claims, they are entitled to seek reparations (which may reach back up to two years prior to the filing of their complaints) or refunds of any excess rates paid, and SFPP may be required to reduce its rates going forward. These proceedings tend to be protracted, with decisions of the FERC often appealed to the federal courts. The issues involved in these proceedings include, among others, whether indexed rate increases are justified, and the appropriate level of return and income tax allowance KMP may include in its rates. With respect to all of the SFPP proceedings at the FERC, we estimate that the shippers are seeking approximately $20 million in annual rate reductions and approximately $100 million in refunds. However, applying the principles of several recent FERC decisions in SFPP cases, as applicable, to pending cases would result in substantially lower rate reductions and refunds than those sought by the shippers. We do not expect refunds in these cases to have an impact on KMP’s distributions to its limited partners or our dividends to our shareholders. | |
EPNG | |
The tariffs and rates charged by EPNG are subject to two ongoing FERC proceedings (the “2008 rate case” and the “2010 rate case”). With respect to the 2008 rate case, the FERC issued its decision (Opinion 517) in May 2012. EPNG implemented certain aspects of that decision and believes it has an appropriate reserve related to the findings in Opinion 517. EPNG has sought rehearing on Opinion 517. With respect to the 2010 rate case, the FERC issued its decision (Opinion 528) on October 17, 2013. EPNG sought rehearing on certain issues in Opinion 528. As required by Opinion 528, EPNG filed revised pro forma recalculated rates consistent with the terms of Opinion 528. The FERC also required an Administrative Law Judge to conduct an additional hearing concerning one of the issues in Opinion 528 and a decision is expected in September 2014. | |
California Public Utilities Commission Proceedings | |
KMP has previously reported ratemaking and complaint proceedings against SFPP pending with the CPUC. The ratemaking and complaint cases generally involve challenges to rates charged by SFPP for intrastate transportation of refined petroleum products through its pipeline system in the state of California and request prospective rate adjustments and refunds with respect to tariffed and previously untariffed charges for certain pipeline transportation and related services. These matters have generally been consolidated and assigned to two administrative law judges. | |
On May 26, 2011, the CPUC issued a decision in several intrastate rate cases involving SFPP and a number of its shippers, (the “Long” cases). The decision included determinations on issues, such as SFPP’s entitlement to an income tax allowance, allocation of environmental expenses, and refund liability, which KMP asserted are contrary both to CPUC policy and precedent and to established federal regulatory policies for pipelines. On March 8, 2012, the CPUC issued another decision related to the Long cases. This decision largely reflected the determinations made on May 26, 2011, including the denial of an income tax allowance for SFPP. On March 23, 2012, SFPP filed a petition for writ of review in the California Court of Appeals, seeking a court order vacating the CPUC’s determination that SFPP is not entitled to recover an income tax allowance in its intrastate rates. The Court denied SFPP’s petition, and on October 16, 2013, the California Supreme Court declined SFPP’s request for further review. The precise impact of the now final state rulings denying SFPP an income tax allowance, together with other pending ratemaking issues, are subject to further consideration and determination by the CPUC. | |
On April 6, 2011, in proceedings unrelated to the above-referenced CPUC dockets, a CPUC administrative law judge issued a proposed decision (Bemesderfer case) substantially reducing SFPP’s authorized cost of service and ordering SFPP to pay refunds from May 24, 2007 to the present of revenues collected in excess of the authorized cost of service. The proposed decision was subsequently withdrawn, and the presiding administrative law judge is expected to reissue a proposed decision at some indeterminate time in the future. | |
On January 30, 2012, SFPP filed an application reducing its intrastate rates by approximately 7%. This matter remains pending before the CPUC. | |
On July 19, 2013, Calnev filed an application with the CPUC requesting a 36% increase in its intrastate rates. A decision from the CPUC approving the requested rate increase was issued on November 14, 2013. | |
On November 27, 2013, the CPUC issued its Order to Show Cause directing SFPP to demonstrate whether or not the CPUC should require immediate refund payments associated with various pending SFPP rate matters. Subsequently, the CPUC issued an order directing SFPP and its shippers to engage in mandatory settlement discussions. On April 3, 2014, the CPUC issued its ruling suspending proceedings in all pending SFPP matters until October 1, 2014 or the date upon which SFPP and its shippers inform the CPUC that SFPP and its shippers have reached settlement of all pending matters or have failed to do so. If the matter is not settled, a decision addressing, if not resolving, all pending SFPP rate matters at the CPUC is anticipated in the first quarter of 2015. | |
Based on KMP’s review of these CPUC proceedings and the shipper comments thereon, it estimates that the shippers are requesting approximately $400 million in reparation payments and approximately $30 million in annual rate reductions. The actual amount of reparations will be determined through settlement negotiations or further proceedings at the CPUC. As of June 30, 2014, we believe our legal reserve is adequate such that the resolution of pending CPUC matters will not have a material adverse impact on KMP’s business, financial position or results of operations. Furthermore, we do not expect any reparations that KMP would pay in this matter to impact the per unit cash distributions it expects to pay to its limited partners for 2014. | |
Other Commercial Matters | |
Union Pacific Railroad Company Easements | |
SFPP and Union Pacific Railroad Company (UPRR) are engaged in a proceeding to determine the extent, if any, to which the rent payable by SFPP for the use of pipeline easements on rights-of-way held by UPRR should be adjusted pursuant to existing contractual arrangements for the ten-year period beginning January 1, 2004 (Union Pacific Railroad Company v. Santa Fe Pacific Pipelines, Inc., SFPP, L.P., Kinder Morgan Operating L.P. “D”, Kinder Morgan G.P., Inc., et al., Superior Court of the State of California for the County of Los Angeles, filed July 28, 2004). In September 2011, the trial judge determined that the annual rent payable as of January 1, 2004 was $14 million subject to annual consumer price index increases. Judgment was entered by the Superior Court on May 29, 2012 and SFPP appealed the judgment. If the judgment is upheld on appeal, SFPP would owe approximately $95 million in back rent. Accordingly, KMP increased its rights-of-way liability to cover this potential liability for back rent. In addition, the trial judge determined that UPRR is entitled to approximately $20 million for interest through the date of the judgment on the outstanding back rent liability. KMP believes the award of interest is without merit and are pursuing our appellate rights. On June 27, 2014, the California Court of Appeals heard oral argument and requested that the parties submit supplemental briefing on the following issues: whether the UPRR ever had sufficient ownership interests to allow it to grant subsurface easements in land granted to it by Congress; whether there is sufficient evidence in the record on this question; and assuming that the UPRR did not have sufficient ownership interests to grant subsurface easements and that its rental agreements with SFPP were invalid, whether the parties can limit the scope of the Court’s inquiry on appeal by not disputing the underlying rights of the railroad. The parties are in the process of filing supplemental briefs on the foregoing issues and a decision is anticipated by the Court of Appeals in 2014. | |
By notice dated October 25, 2013, UPRR demanded the payment of $22.25 million in rent for the first year of the next ten-year period beginning January 1, 2014. SFPP rejected the demand and the parties are pursuing the dispute resolution procedure in their contract to determine the rental adjustment, if any, for such period. | |
SFPP and UPRR are also engaged in multiple disputes over the circumstances under which SFPP must pay for a relocation of its pipeline within the UPRR right-of-way and the safety standards that govern relocations. In July 2006, a trial before a judge regarding the circumstances under which SFPP must pay for relocations concluded, and the judge determined that SFPP must pay for any relocations resulting from any legitimate business purpose of the UPRR. SFPP appealed this decision, and in December 2008, the appellate court affirmed the decision. In addition, UPRR contends that SFPP must comply with the more expensive American Railway Engineering and Maintenance-of-Way Association (AREMA) standards in determining when relocations are necessary and in completing relocations. Each party is seeking declaratory relief with respect to its positions regarding the application of these standards with respect to relocations. A trial occurred in the fourth quarter of 2011, with a verdict having been reached that SFPP was obligated to comply with AREMA standards in connection with a railroad project in Beaumont Hills, California. On March 10, 2014, the trial court issued a tentative statement of decision addressing all of the causes of action and defenses and resolved those matters against SFPP, consistent with the jury’s verdict. If the tentative statement of decision and jury verdict become final and are affirmed on appeal, SFPP will be required to pay a judgment of $42.65 million. SFPP is continuing to evaluate its post-trial and appellate options. | |
Since SFPP does not know UPRR’s plans for projects or other activities that would cause pipeline relocations, it is difficult to quantify the effects of the outcome of these cases on SFPP. Even if SFPP is successful in advancing its positions, significant relocations for which SFPP must nonetheless bear the expense (i.e., for railroad purposes, with the standards in the federal Pipeline Safety Act applying) could have an adverse effect on KMP’s financial position, results of operations, cash flows, distributions to its limited partners, and our dividends to our shareholders. These effects could be even greater in the event SFPP is unsuccessful in one or more of these litigations. | |
Severstal Sparrows Point Crane Collapse | |
On June 4, 2008, a bridge crane owned by Severstal and located in Sparrows Point, Maryland collapsed while being operated by our subsidiary Kinder Morgan Bulk Terminals, Inc. (KMBT). According to KMP’s investigation, the collapse was caused by unexpected, sudden and extreme winds. On June 24, 2009, Severstal filed suit against KMBT in the U.S. District Court for the District of Maryland, Case No. 09CV1668-WMN. Severstal and its successor in interest, RG Steel, allege that KMBT was contractually obligated to replace the collapsed crane and that its employees were negligent in failing to properly secure the crane prior to the collapse. RG Steel seeks to recover in excess of $30 million for the alleged value of the crane and lost profits. KMBT denies each of RG Steel’s allegations. A bench trial occurred in November 2013. On March 6, 2014, the Court issued findings of fact and conclusions of law and entered judgment against KMBT in the amount of $13.79 million, which was later amended to $15.55 million by order dated May 6, 2014. KMBT has filed a notice of appeal of the judgment. | |
Plains Gas Solutions, LLC v. Tennessee Gas Pipeline Company, L.L.C. et al | |
On October 16, 2013, Plains Gas Solutions, LLC (Plains) filed a petition in the 151st Judicial District Court for Harris County, Texas (Case No. 62528) against TGP, Kinetica Partners, LLC and two other Kinetica entities. The suit arises from the sale by TGP of the Cameron System in Louisiana to Kinetica Partners, LLC on September 1, 2013. Plains alleges that defendants breached a straddle agreement requiring that gas on the Cameron System be committed to Plains’ Grand Chenier gas-processing facility, that requisite daily volume reports were not provided, that TGP improperly assigned its obligations under the straddle agreement to Kinetica, and that defendants interfered with Plains’ contracts with producers. The petition alleges damages of at least $100 million. Under the Amended and Restated Purchase and Sale Agreement with Kinetica, Kinetica has agreed to indemnify TGP in connection with the gas commitment and reporting claims. The suit was removed to federal court and Plains has filed a motion to remand. We intend to vigorously defend the suit. | |
Brinckerhoff v. El Paso Pipeline GP Company, LLC., et al. | |
In December 2011 (Brinckerhoff I), March 2012, (Brinckerhoff II), May 2013 (Brinckerhoff III) and June 2014 (Brinckerhoff IV), derivative lawsuits were filed in Delaware Chancery Court against El Paso, El Paso Pipeline GP Company, L.L.C., the general partner of EPB, and the directors of the general partner at the time of the relevant transactions. EPB was named in these lawsuits as a “Nominal Defendant.” The lawsuits arise from the March 2010, November 2010, May 2012 and June 2011 drop-down transactions involving EPB’s purchase of SLNG, Elba Express, CPG and interests in SNG and CIG. The lawsuits allege various conflicts of interest and that the consideration paid by EPB was excessive. Brinckerhoff I and II have been consolidated into one proceeding. On June 12, 2014, defendants’ motion for summary judgment was granted in Brinckerhoff I, dismissing the case in its entirety. Defendants’ motion for summary judgment in Brinckerhoff II was granted in part, dismissing certain claims and allowing the matter to go to trial on the remaining claims. A motion to dismiss has been filed in Brinckerhoff III. Defendants continue to believe these lawsuits are without merit and intend to defend against them vigorously. | |
Allen v. El Paso Pipeline GP Company, L.L.C., et al. | |
In May 2012, a unitholder of EPB filed a purported class action in Delaware Chancery Court, alleging both derivative and non derivative claims, against EPB, and EPB’s general partner and its board. EPB was named in the lawsuit as both a “Class Defendant” and a “Derivative Nominal Defendant.” The complaint alleges a breach of the duty of good faith and fair dealing in connection with the March 2011 sale to EPB of a 25% ownership interest in SNG. On June 20, 2014, defendants’ motion for summary judgment was granted, dismissing the case in its entirety. Plaintiff filed a notice of appeal on July 28, 2014. | |
Price Reporting Litigation | |
Beginning in 2003, several lawsuits were filed against El Paso Marketing L.P. (EPM) alleging that EP, EPM and other energy companies conspired to manipulate the price of natural gas by providing false price information to industry trade publications that published gas indices. Several of the cases have been settled or dismissed. The remaining cases, which were pending in Nevada federal court, were dismissed, but the dismissal was reversed by the 9th Circuit Court of Appeals. A petition for certiorari was granted by the U.S. Supreme Court, and the matter is stayed pending appeal. Although damages in excess of $140 million have been alleged in total against all defendants in one of the remaining lawsuits where a damage number is provided, there remains significant uncertainty regarding the validity of the causes of action, the damages asserted and the level of damages, if any, that may be allocated to us. Therefore, our costs and legal exposure related to the remaining outstanding lawsuits and claims are not currently determinable. | |
Pipeline Integrity and Releases | |
From time to time, despite our best efforts, our pipelines experience leaks and ruptures. These leaks and ruptures may cause explosions, fire, and damage to the environment, damage to property and/or personal injury or death. In connection with these incidents, we may be sued for damages caused by an alleged failure to properly mark the locations of our pipelines and/or to properly maintain our pipelines. Depending upon the facts and circumstances of a particular incident, state and federal regulatory authorities may seek civil and/or criminal fines and penalties. | |
General | |
As of June 30, 2014 and December 31, 2013 our total reserve for legal matters was $688 million and $624 million, respectively. The reserve primarily relates to various claims from regulatory proceedings arising from KMP’s products pipeline and natural gas pipeline transportation rates. | |
Other | |
Slotoroff v. Kinder Morgan, Inc., Kinder Morgan G.P., Inc., et al. | |
On February 5, 2014, a putative class action and derivative complaint was filed in the Court of Chancery in the State of Delaware (Case No. 9318) against defendants KMI, KMGP and nominal defendant KMEP. The suit was filed by Jon Slotoroff, a purported unitholder of KMEP and seeks to assert claims both individually and on behalf of a putative class consisting of all public holders of KMEP units during the period of February 5, 2011 through the date of the filing of the suit. The suit alleges direct and derivative causes of action for breach of the partnership agreement, breach of the duty of good faith and fair dealing, aiding and abetting, and tortious interference. Among other things, the suit alleges that defendants made a bad faith allocation of capital expenditures to expansion capital expenditures rather than maintenance capital expenditures for the alleged purpose of “artificially” inflating KMEP’s distributions and growth rate. The suit seeks disgorgement of any distributions to KMGP, KMI and any related entities, beyond amounts that would have been distributed in accordance with a “good faith” allocation of maintenance capital expenses, together with other unspecified monetary damages including punitive damages and attorney fees. Defendants believe this suit is without merit and intend to defend it vigorously. | |
Burns et al v. Kinder Morgan, Inc. Kinder Morgan G.P., Inc. et al | |
On March 27, 2014, a putative class action and derivative complaint was filed in the Court of Chancery in the State of Delaware (Case No. 9479) against defendants KMI, KMGP and nominal defendant KMEP. The suit was filed by Darrell Burns and Terrence Zehrer, purported unitholders of KMEP, and seeks to assert claims both individually and on behalf of a putative class consisting of all public holders of KMEP units during the period of February 5, 2011 through the date of the filing of the suit. The suit asserts claims and allegations substantially similar to the suit filed by Jon Slotoroff described above. On April 8, 2014, the Court ordered that this suit be consolidated for all purposes with the suit filed by Jon Slotoroff described above and that the caption of the consolidated action shall be In Re Kinder Morgan Energy Partners, L.P. Derivative Litigation, Consolidated Case No. 9318. | |
Walker v. Kinder Morgan, Inc., Kinder Morgan G.P., Inc. et al | |
On March 6, 2014, a putative class action and derivative complaint was filed in the District Court of Harris County, Texas (Case No. 2014-11872 in the 215th Judicial District) against KMI, KMGP, KMR, Richard D. Kinder, Steven J. Kean, Ted A. Gardner, Gary L. Hultquist, Perry M. Waughtal and nominal defendant KMEP. The suit was filed by Kenneth Walker, a purported unit holder of KMEP, and alleges direct and derivative causes of action for alleged violation of duties owed under the partnership agreement, breach of the implied covenant of good faith and fair dealing, “abuse of control” and “gross mismanagement” in connection with the calculation of distributions and allocation of capital expenditures to expansion capital expenditures and maintenance capital expenditures. The suit seeks unspecified money damages, interest, punitive damages, attorney and expert fees, costs and expenses, unspecified equitable relief, and demands a trial by jury. Defendants believe this suit is without merit and intend to defend it vigorously. By agreement of the parties, the case is stayed pending further resolution of the suit filed by Jon Slotoroff described above. | |
Environmental Matters | |
We and our subsidiaries are subject to environmental cleanup and enforcement actions from time to time. In particular, CERCLA generally imposes joint and several liability for cleanup and enforcement costs on current and predecessor owners and operators of a site, among others, without regard to fault or the legality of the original conduct, subject to the right of a liable party to establish a “reasonable basis” for apportionment of costs. Our operations are also subject to federal, state and local laws and regulations relating to protection of the environment. Although we believe our operations are in substantial compliance with applicable environmental law and regulations, risks of additional costs and liabilities are inherent in pipeline, terminal and CO2 field and oil field operations, and there can be no assurance that we will not incur significant costs and liabilities. Moreover, it is possible that other developments, such as increasingly stringent environmental laws, regulations and enforcement policies under the terms of authority of those laws, and claims for damages to property or persons resulting from our operations, could result in substantial costs and liabilities to us. | |
We are currently involved in several governmental proceedings involving alleged violations of environmental and safety regulations. As we receive notices of non-compliance, we attempt to negotiate and settle such matters where appropriate. We do not believe that these alleged violations will have a material adverse effect on our business, financial position, results of operations or dividends to our shareholders. | |
We are also currently involved in several governmental proceedings involving groundwater and soil remediation efforts under administrative orders or related state remediation programs. We have established a reserve to address the costs associated with the cleanup. | |
In addition, we are involved with and have been identified as a potentially responsible party in several federal and state superfund sites. Environmental reserves have been established for those sites where our contribution is probable and reasonably estimable. In addition, we are from time to time involved in civil proceedings relating to damages alleged to have occurred as a result of accidental leaks or spills of refined petroleum products, NGL, natural gas and CO2. | |
Portland Harbor Superfund Site, Willamette River, Portland, Oregon | |
In December 2000, the EPA issued General Notice letters to potentially responsible parties including GATX Terminals Corporation (n/k/a KMLT). At that time, GATX owned two liquids terminals along the lower reach of the Willamette River, an industrialized area known as Portland Harbor. Portland Harbor is listed on the National Priorities List and is designated as a Superfund Site under CERCLA. A group of potentially responsible parties formed what is known as the Lower Willamette Group (LWG), of which KMLT is a non-voting member and pays a minimal fee to be part of the group. The LWG agreed to conduct the remedial investigation and feasibility study (RI/FS) leading to the proposed remedy for cleanup of the Portland Harbor site. Once the EPA determines the cleanup remedy from the remedial investigations and feasibility studies conducted during the last decade at the site, it will issue a Record of Decision. Currently, KMLT and 90 other parties are involved in an allocation process to determine each party’s respective share of the cleanup costs. This is a non-judicial allocation process. KMEP is participating in the allocation process on behalf of both KMLT and KMBT. Each entity has two facilities located in Portland Harbor. KMEP expects the allocation process to conclude in 2015. KMEP also expects the LWG to complete the RI/FS process in 2015, after which the EPA is expected to develop a proposed plan leading to a Record of Decision targeted for 2017. It is anticipated that the cleanup activities will begin within one year of the issuance of the Record of Decision. | |
Roosevelt Irrigation District v. Kinder Morgan G.P., Inc., Kinder Morgan Energy Partners, L.P. , U.S. District Court, Arizona | |
The Roosevelt Irrigation District sued KMGP, KMEP and others under CERCLA for contamination of the water purveyor’s wells. The First Amended Complaint sought $175 million in damages against approximately 70 defendants. On August 6, 2013 plaintiffs filed their Second Amended Complaint seeking monetary damages in unspecified amounts and reducing the number of defendants to 26 including KMEP and SFPP. The claims now presented against KMEP and SFPP are related to alleged releases from a specific parcel within the SFPP Phoenix Terminal and the alleged impact of such releases on water wells owned by the plaintiffs and located in the vicinity of the Terminal. On October 24, 2013, we moved to dismiss this suit and the motion remains pending. | |
Paulsboro, New Jersey Liquids Terminal Consent Judgment | |
On June 25, 2007, the NJDEP, the Commissioner of the New Jersey Department of Environmental Protection and the Administrator of the New Jersey Spill Compensation Fund, referred to collectively as the plaintiffs, filed a complaint in Gloucester County, New Jersey against ExxonMobil and KMLT, formerly known as GATX Terminals Corporation, alleging natural resource damages related to historic contamination at the Paulsboro, New Jersey liquids terminal owned by ExxonMobil from the mid-1950s through November 1989, by GATX Terminals Corporation from 1989 through September 2000, and later owned by Support Terminals and Pacific Atlantic Terminals, LLC. The terminal is now owned by Plains Products, which was also joined as a party to the lawsuit. | |
In mid-2011, KMLT and Plains Products entered into a settlement agreement and subsequent Consent Judgment with the NJDEP which resolved the state’s alleged natural resource damages claim. The natural resource damage settlement includes a monetary award of $1 million and a series of remediation and restoration activities at the terminal site. KMLT and Plains Products have joint responsibility for this settlement. Simultaneously, KMLT and Plains Products entered into an agreement that settled each party’s relative share of responsibility (50/50) to the NJDEP under the Consent Judgment noted above. The Consent Judgment is now entered with the Court and the settlement is final. According to the agreement, Plains will conduct remediation activities at the site and KMLT will provide oversight and 50% of the costs. We are awaiting approval from the NJDEP in order to begin remediation activities. | |
Mission Valley Terminal Lawsuit | |
In August 2007, the City of San Diego, on its own behalf and purporting to act on behalf of the People of the State of California, filed a lawsuit against KMP and several affiliates seeking injunctive relief and unspecified damages allegedly resulting from hydrocarbon and methyl tertiary butyl ether (MTBE) impacted soils and groundwater beneath the City’s stadium property in San Diego arising from historic operations at the Mission Valley terminal facility. The case was filed in the Superior Court of California, San Diego County, case number 37-2007-00073033-CU-OR-CTL. On September 26, 2007, KMP removed the case to the U.S. District Court, Southern District of California, case number 07CV1883WCAB. The City disclosed in discovery that it is seeking approximately $170 million in damages for alleged lost value/lost profit from the redevelopment of the City’s property and alleged lost use of the water resources underlying the property. Later, in 2010, the City amended its initial disclosures to add claims for restoration of the site as well as a number of other claims that increased its claim for damages to approximately $365 million. | |
On November 29, 2012, the Court issued a Notice of Tentative Rulings on the parties’ summary adjudication motions. The Court tentatively granted our partial motions for summary judgment on the City’s claims for water and real estate damages and the State’s claims for violations of California Business and Professions Code § 17200, tentatively denied the City’s motion for summary judgment on its claims of liability for nuisance and trespass, and tentatively granted our cross motion for summary judgment on such claims. On January 25, 2013, the Court rendered judgment in favor of all defendants on all claims asserted by the City. | |
On February 20, 2013, the City of San Diego filed a notice of appeal of this case to the U.S. Court of Appeals for the Ninth Circuit. The appeal is currently pending. | |
This site has been, and currently is, under the regulatory oversight and order of the California Regional Water Quality Control Board (RWQCB). KMP’s subsidiary, SFPP has completed the soil and groundwater remediation at the City of San Diego’s stadium property site and will continue quarterly sampling and monitoring through 2014 as part of the compliance evaluation required by the RWQCB. SFPP’s remediation effort is now focused on its adjacent Mission Valley Terminal site. | |
On May 7, 2013, the City of San Diego filed a writ of mandamus to the California Superior Court seeking an order from the Court setting aside the RWQCB’s approval of KMP’s permit request to increase the discharge of water from KMP’s groundwater treatment system to the City of San Diego’s municipal storm sewer system. SFPP and KMP are coordinating with the RWQCB to oppose the City’s writ. | |
Uranium Mines in Vicinity of Cameron, Arizona | |
In the 1950s and 1960s, Rare Metals Inc., an historical subsidiary of EPNG, operated approximately 20 uranium mines in the vicinity of Cameron, Arizona, many of which are located on the Navajo Indian Reservation. The mining activities were in response to numerous incentives provided to industry by the U.S. to locate and produce domestic sources of uranium to support the Cold War-era nuclear weapons program. In May 2012, EPNG received a general notice letter from the EPA notifying EPNG of the EPA’s investigation of certain sites and its determination that the EPA considers EPNG to be a potentially responsible party within the meaning of CERCLA. In August 2013, EPNG and the EPA entered into an Administrative Order on Consent and Scope of Work pursuant to which EPNG will conduct a radiological assessment of the surface of the mines. We are also seeking contribution from the applicable federal government agencies toward the cost of environmental activities associated with the mines, given their pervasive control over all aspects of the nuclear weapons program. | |
PHMSA Inspection of Carteret Terminal, Carteret, New Jersey | |
On April 4, 2013, the PHMSA, Office of Pipeline Safety issued a Notice of Probable Violation, Proposed Civil Penalty and Proposed Compliance Order (NOPV) arising from an inspection at the KMLT, Carteret, New Jersey location on March 15, 2011, following a release and fire that occurred during maintenance activity on March 14, 2011. On July 17, 2013, KMLT entered into a Consent Agreement and Order with the PHMSA, pursuant to which KMLT paid a penalty of $63,100 and is required to complete ongoing pipeline integrity testing and other corrective measures by May 2015. | |
Lower Passaic River Study Area of the Diamond Alkali Superfund Site, Essex, Hudson, Bergen and Passaic Counties, New Jersey | |
EPEC Polymers, Inc. (EPEC Polymers) and EPEC Oil Company Liquidating Trust (EPEC Oil Trust), former El Paso entities now owned by KMI, are involved in an administrative action under CERCLA known as the Lower Passaic River Study Area Superfund Site (Site) concerning the lower 17-mile stretch of the Passaic River. It has been alleged that EPEC Polymers and EPEC Oil Trust may be potentially responsible parties under CERCLA based on prior ownership and/or operation of properties located along the relevant section of the Passaic River. EPEC Polymers and EPEC Oil Trust entered into two Administrative Orders on Consent (AOCs) which obligate them to investigate and characterize contamination at the Site. They are also part of a joint defense group of approximately 70 cooperating parties (CPG) which have entered into AOCs and are directing and funding the work required by the EPA. Under the first AOC, a remedial investigation and feasibility study of the Site is presently estimated to be completed by 2015. Under the second AOC, the CPG members are conducting a CERCLA removal action at the Passaic River Mile 10.9, including the dredging of sediment in mud flats at this location of the river to a depth of two feet and installation of a cap. The dredging was completed in 2013 and capping work is ongoing. We have established a reserve for the anticipated cost of compliance with the AOCs. | |
On April 11, 2014, the EPA announced the issuance of its Focused Feasibility Study (FFS) for the lower eight miles of the Passaic River Study Area, and its proposed plan for remedial alternatives to address the dioxin sediment contamination from the mouth of Newark Bay to River Mile 8.3. The EPA estimates the cost for the alternatives will range from $365 million to $3.2 billion . The EPA’s preferred alternative would involve dredging the river bank-to-bank and installing an engineered cap at an estimated cost of $1.7 billion . In its FFS, the EPA stated that it has identified over 100 industrial facilities as potentially responsible parties and it is likely that there are hundreds more private and public entities that could be named in any litigation concerning responsibility for the Site contamination. | |
No final remedy for this portion of the Site will be selected until the public comment and response period for the FFS is completed and the Record of Decision (ROD) is issued by EPA, which is expected in early 2015. Until the ROD is issued there is uncertainty about what remedy will be implemented and the extent of potential costs. There is also uncertainty as to the impact of the RI/FS that the CPG is currently preparing for portions of the Site. Therefore, the scope of potential EPA claims for the lower eight miles of the Passaic River is not reasonably estimable at this time. | |
Southeast Louisiana Flood Protection Litigation | |
On July 24, 2013, the Board of Commissioners of the Southeast Louisiana Flood Protection Authority - East (SLFPA) filed a petition for damages and injunctive relief in state district court for Orleans Parish, Louisiana (Case No. 13-6911) against TGP, SNG and approximately 100 other energy companies, alleging that defendants’ drilling, dredging, pipeline and industrial operations since the 1930’s have caused direct land loss and increased erosion and submergence resulting in alleged increased storm surge risk, increased flood protection costs and unspecified damages to the plaintiff. The SLFPA asserts claims for negligence, strict liability, public nuisance, private nuisance, and breach of contract. Among other relief, the petition seeks unspecified monetary damages, attorney fees, interest, and injunctive relief in the form of abatement and restoration of the alleged coastal land loss including but not limited to backfilling and re-vegetation of canals, wetlands and reef creation, land bridge construction, hydrologic restoration, shoreline protection, structural protection, and bank stabilization. On August 13, 2013, the suit was removed to the U.S. District Court for the Eastern District of Louisiana. On September 10, 2013, the SLFPA filed a motion to remand the case to the state district court for Orleans Parish. The Court denied the remand motion on June 27, 2014. Louisiana Act 544 went into effect on June 6, 2014 and specified the political entities authorized to institute litigation for environmental damage in the coastal zone. Under the Act, which was specifically made retroactive, the SLFPA is not a valid plaintiff. Defendants intend to move to dismiss the suit under the Act among other grounds. | |
Plaquemines Parish Louisiana Coastal Zone Litigation | |
On November 8, 2013, the Parish of Plaquemines, Louisiana filed a petition for damages in the state district court for Plaquemines Parish, Louisiana (Docket No. 60-999) against TGP and 17 other energy companies, alleging that defendants’ oil and gas exploration, production and transportation operations in the Bastian Bay, Buras, Empire and Fort Jackson oil and gas fields of Plaquemines Parish caused substantial damage to the coastal waters and nearby lands (Coastal Zone) within the Parish, including the erosion of marshes and the discharge of oil waste and other pollutants which detrimentally affected the quality of state waters and plant and animal life, in violation of the State and Local Coastal Resources Management Act of 1978 (Coastal Zone Management Act). As a result of such alleged violations of the Coastal Zone Management Act, Plaquemines Parish seeks, among other relief, unspecified monetary relief, attorney fees, interest, and payment of costs necessary to restore the allegedly affected Coastal Zone to its original condition, including costs to clear, vegetate and detoxify the Coastal Zone. On December 18, 2013, defendants removed the case to the U.S. District Court for the Eastern District of Louisiana. On January 14, 2014, the plaintiff filed a motion to remand the case to state court and such motion remains pending. | |
Pennsylvania Department of Environmental Protection Notice of Alleged Violations | |
The Pennsylvania Department of Environmental Protection (PADEP) has notified TGP of alleged violations of certain conditions to the construction permits issued to TGP for the construction of TGP’s 300 Line Project in 2011. The alleged violations arise from field inspections performed during construction by county conservation districts, as delegates of the PADEP, and generally involve the alleged failure by TGP to implement and maintain best practices to achieve sufficient erosion and sediment controls, stabilization of the right of way, and prevention of potential discharge of sediment into the waters of the commonwealth during construction and before placing the line into service. To resolve such alleged violations, the PADEP initially proposed a collective penalty of approximately $1.5 million. TGP and the PADEP are seeking to reach a mutually agreeable resolution of the alleged notices of violations, including an agreed penalty amount. | |
General | |
Although it is not possible to predict the ultimate outcomes, we believe that the resolution of the environmental matters set forth in this note, and other matters to which we and our subsidiaries are a party, will not have a material adverse effect on our business, financial position, results of operations or cash flows. As of June 30, 2014 and December 31, 2013, we have accrued a total reserve for environmental liabilities in the amount of $353 million and $378 million, respectively, of which $190 million and $208 million, respectively, are associated with KMI (excluding KMP and EPB) and primarily relate to legacy sites acquired in the May 25, 2012 EP acquisition. In addition, as of both June 30, 2014 and December 31, 2013, we have recorded a receivable of $14 million for expected cost recoveries that have been deemed probable. | |
Other Contingencies | |
In conjunction with KMP’s acquisition of certain natural gas pipelines from us, we agreed to indemnify KMP with respect to approximately $5.9 billion of its debt. This includes $5.2 billion associated with KMP’s March 2013 and August 2012 purchases of natural gas assets from us. In conjunction with our EP acquisition and the May 2014 drop-down transaction to EPB (see Note 2), we have agreed to indemnify EPB with respect to $2.1 billion of its debt. We would be obligated to perform under these indemnities only if KMP’s or EPB’s assets, as applicable, were unable to satisfy its obligations. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements (Notes) | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
Accounting Standards Updates - Adopted | |
None of the Accounting Standards Updates (ASU) that we adopted and that became effective January 1, 2014 (including ASU No. 2013-05, “Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (a consensus of the FASB Emerging Issues Task Force)) had a material impact on our consolidated financial statements. More information about this ASU can be found in Note 17 “Recent Accounting Pronouncements” to our consolidated financial statements that were included in our 2013 Form 10-K. | |
ASU No. 2014-09 | |
On May 28, 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606).” This ASU is designed to create greater comparability for financial statement users across industries and jurisdictions. The provisions of ASU No. 2014-09 include a five-step process by which entities will recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which an entity expects to be entitled in exchange for those goods or services. The standard also will require enhanced disclosures, provide more comprehensive guidance for transactions such as service revenue and contract modifications, and enhance guidance for multiple-element arrangements. ASU No. 2014-09 will be effective for U.S. public companies for annual reporting periods beginning after December 15, 2016, including interim reporting periods (January 1, 2017 for us). Early adoption is not permitted. We are currently reviewing the effect of ASU No. 2014-09 on our revenue recognition. |
Reconciliation_of_Significant_
Reconciliation of Significant Asset Balances (Notes) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Reconciliation of Significant Asset Balances | ' | |||||||
Reconciliation of Significant Balance Sheet Accounts | ||||||||
The following is a reconciliation between KMP’s and EPB’s significant asset and liability balances as reported in KMP’s and EPB’s Quarterly Reports on Form 10-Q for the quarter ended June 30, 2014 and Annual Reports on Form 10-K for the year ended December 31, 2013 and our consolidated asset and liability balances as shown on our accompanying consolidated balance sheets (in millions): | ||||||||
June 30, | 31-Dec-13 | |||||||
2014 | ||||||||
Cash and cash equivalents - KMI(a) | $ | 50 | $ | 116 | ||||
Cash and cash equivalents - KMP | 263 | 404 | ||||||
Cash and cash equivalents - EPB | 50 | 78 | ||||||
Cash and cash equivalents | $ | 363 | $ | 598 | ||||
Property, plant and equipment, net–KMI(a) | $ | 2,505 | $ | 2,563 | ||||
Property, plant and equipment, net–KMP | 29,285 | 27,405 | ||||||
Property, plant and equipment, net–EPB | 5,817 | 5,879 | ||||||
Property, plant and equipment, net | $ | 37,607 | $ | 35,847 | ||||
Goodwill–KMI(a) | $ | 17,910 | $ | 17,935 | ||||
Goodwill–KMP | 6,721 | 6,547 | ||||||
Goodwill–EPB | 22 | 22 | ||||||
Goodwill | $ | 24,653 | $ | 24,504 | ||||
Current portion of debt–KMI(a) | $ | 1,245 | $ | 725 | ||||
Current portion of debt–KMP | 1,337 | 1,504 | ||||||
Current portion of debt–EPB | 41 | 77 | ||||||
Current portion of debt | $ | 2,623 | $ | 2,306 | ||||
Long-term debt outstanding–KMI(a) | $ | 8,088 | $ | 9,221 | ||||
Long-term debt outstanding–KMP | 19,610 | 18,410 | ||||||
Long-term debt outstanding–EPB(b) | 4,750 | 4,179 | ||||||
Long-term debt outstanding | $ | 32,448 | $ | 31,810 | ||||
_______ | ||||||||
(a) | Includes assets and liabilities of KMI’s consolidated subsidiaries, excluding KMP and EPB. | |||||||
(b) | Excludes debt fair value adjustments. Decrease to long-term debt for debt fair value adjustments totaled $8 million as of both June 30, 2014 and December 31, 2013. |
General_Policies
General (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Deferred Taxes [Policy Text Block] | ' |
Our accounting policy is to apply the look-through method of recording deferred taxes on the outside book tax basis differences in our investments without regard to non-tax deductible goodwill. | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' |
Goodwill | |
We evaluate goodwill for impairment on May 31 of each year. There were no impairment charges resulting from our May 31, 2014 impairment testing, and no event indicating an impairment has occurred subsequent to that date. | |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation | |
General | |
Our reporting currency is U.S. dollars, and all references to dollars are U.S. dollars, except where stated otherwise. Our accompanying unaudited consolidated financial statements have been prepared under the rules and regulations of the United States Securities and Exchange Commission. These rules and regulations conform to the accounting principles contained in the FASB’s Accounting Standards Codification, the single source of GAAP. Under such rules and regulations, all significant intercompany items have been eliminated in consolidation. Additionally, we have condensed or omitted certain information and notes normally included in financial statements prepared in conformity with the Codification. We believe, however, that our disclosures are adequate to make the information presented not misleading. | |
Our accompanying unaudited consolidated financial statements reflect normal adjustments, and also recurring adjustments that are, in the opinion of our management, necessary for a fair statement of our financial results for the interim periods. In addition, certain amounts from prior periods have been reclassified to conform to the current presentation (including reclassifications between “Services” and “Product sales and other” within the “Revenues” section of our accompanying consolidated statements of income). Interim results are not necessarily indicative of results for a full year; accordingly, you should read these consolidated financial statements in conjunction with our consolidated financial statements and related notes included in our 2013 Form 10-K. | |
Our consolidated financial statements include our accounts and those of our majority-owned and controlled subsidiaries including the accounts of KMP, EPB and KMR. Investments in jointly-owned operations in which we hold a 50% or less interest (other than KMP, EPB and KMR, because we have the ability to exercise significant control over their operating and financial policies) are accounted for under the equity method. | |
Notwithstanding the consolidation of KMP and EPB, and their respective subsidiaries, into our financial statements, we are not liable for, and our assets are not available to satisfy, the obligations of KMP and EPB, and/or their respective subsidiaries, and vice versa, except as discussed in Note 10, “Litigation, Environmental and Other Contingencies — Other Contingencies.” Responsibility for payments of obligations reflected in our, KMP or EPB’s financial statements is a legal determination based on the entity that incurs the liability. | |
Earnings Per Share [Policy Text Block] | ' |
Earnings per Share | |
We calculate earnings per share using the two-class method. Earnings were allocated to Class P shares of common stock and participating securities based on the amount of dividends paid in the current period plus an allocation of the undistributed earnings or excess distributions over earnings to the extent that each security participates in earnings or excess distributions over earnings. Our unvested restricted stock awards do not participate in excess distributions over earnings. |
General_Tables
General (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||
Schedule of Net Income for Shareholders and Participating Securities [Table Text Block] | ' | |||||||||||||||
The following table sets forth the allocation of net income available to shareholders for Class P shares and for participating securities for the three and six months ended June 30, 2014 and 2013 (in millions): | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Class P | $ | 281 | $ | 276 | $ | 565 | $ | 567 | ||||||||
Participating securities(a) | 3 | 1 | 6 | 2 | ||||||||||||
Net Income Attributable to Kinder Morgan, Inc. | $ | 284 | $ | 277 | $ | 571 | $ | 569 | ||||||||
_______ | ||||||||||||||||
(a) | Participating securities are unvested restricted stock awards issued to management employees that contain non-forfeitable rights to dividend equivalent payments. | |||||||||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | |||||||||||||||
For the three and six months ended June 30, 2014 and 2013, the following potential common stock equivalents are antidilutive and, accordingly, are excluded from the determination of diluted earnings per share (in millions on a weighted-average basis): | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Unvested restricted stock awards | 7 | 2 | 7 | 2 | ||||||||||||
Outstanding warrants to purchase our Class P shares | 309 | 420 | 325 | 429 | ||||||||||||
Convertible trust preferred securities | 10 | 10 | 10 | 10 | ||||||||||||
Acquisitions_and_Divestitures_1
Acquisitions and Divestitures (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Business Acquisition [Line Items] | ' | ||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||
The following summarized unaudited pro forma consolidated income statement information for the six months ended June 30, 2013 assumes that KMP’s acquisitions of (i) APT, (ii) Copano and (iii) the Goldsmith Landreth oil field unit had occurred as of January 1, 2013. We prepared the following summarized unaudited pro forma financial results for comparative purposes only. The summarized unaudited pro forma financial results may not be indicative of the results that would have occurred if these acquisitions had been completed as of January 1, 2013, or the results that will be attained in the future. Amounts presented below are in millions, except for the per share amounts: | |||||
Pro Forma | |||||
Six Months Ended | |||||
June 30, 2013 | |||||
(Unaudited) | |||||
Revenues | $ | 7,196 | |||
Income from Continuing Operations | 1,401 | ||||
Loss from Discontinued Operations, Net of Tax | (2 | ) | |||
Net Income | 1,399 | ||||
Net Income Attributable to Noncontrolling Interests | (855 | ) | |||
Net Income Attributable to Kinder Morgan, Inc. | 544 | ||||
Diluted Earnings per Class P Share | $ | 0.52 | |||
Kinder Morgan Energy Partners, L.P. [Member] | APT acquisition [Member] | ' | ||||
Business Acquisition [Line Items] | ' | ||||
Schedule of Purchase Price Allocation [Table Text Block] | ' | ||||
As of June 30, 2014, KMP’s preliminary purchase price allocation related to the APT acquisition, as adjusted to date, is as follows (in millions). The evaluation of the assigned fair values is ongoing and subject to adjustment. | |||||
Purchase Price Allocation: | |||||
Current assets | $ | 6 | |||
Property, plant and equipment | 951 | ||||
Goodwill | 67 | ||||
Other assets | 3 | ||||
Total assets acquired | 1,027 | ||||
Current liabilities | (5 | ) | |||
Unfavorable customer contracts | (61 | ) | |||
Cash consideration | $ | 961 | |||
Kinder Morgan Energy Partners, L.P. [Member] | Copano Energy LLC [Member] | ' | ||||
Business Acquisition [Line Items] | ' | ||||
Schedule of Purchase Price Allocation [Table Text Block] | ' | ||||
As of June 30, 2014, KMP’s purchase price allocation related to the Copano acquisition is as follows (in millions): | |||||
Purchase Price Allocation: | |||||
Current assets (including cash acquired of $30) | $ | 218 | |||
Property, plant and equipment | 2,788 | ||||
Investments | 300 | ||||
Goodwill | 1,248 | ||||
Other intangibles | 1,375 | ||||
Other assets | 13 | ||||
Total assets | 5,942 | ||||
Less: Fair value of previously held 50% interest in Eagle Ford Gathering | (704 | ) | |||
Total assets acquired | 5,238 | ||||
Current liabilities | (208 | ) | |||
Other liabilities | (28 | ) | |||
Long-term debt | (1,252 | ) | |||
Noncontrolling interests | (17 | ) | |||
Common unit consideration | $ | 3,733 | |||
Debt_Tables
Debt (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||||||
The following table provides detail on the principal amount of our outstanding debt balances as of June 30, 2014 and December 31, 2013. The table amounts exclude all debt fair value adjustments, including debt discounts and premiums (in millions). | |||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||
KMI | |||||||||||||||||
Senior term loan facilities, variable rate, due May 24, 2015 and May 6, 2017(a) | $ | 650 | $ | 1,528 | |||||||||||||
Senior notes and debentures, 5.00% through 7.45%, due 2015 through 2098 | 1,815 | 1,815 | |||||||||||||||
Senior notes, 6.50% through 8.25%, due 2014 through 2037(b) | 3,623 | 3,830 | |||||||||||||||
Preferred securities, 4.75%, due March 31, 2028(b) | 280 | 280 | |||||||||||||||
Credit facility due May 6, 2019(c) | 820 | 175 | |||||||||||||||
Subsidiary borrowings (as obligor) | |||||||||||||||||
Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036 | 1,636 | 1,636 | |||||||||||||||
EPC Building, LLC, promissory note, 3.967%, due 2014 through 2035 | 457 | 461 | |||||||||||||||
Other miscellaneous debt | 52 | 221 | |||||||||||||||
Total debt — KMI | 9,333 | 9,946 | |||||||||||||||
Less: Current portion of debt — KMI | (1,245 | ) | (725 | ) | |||||||||||||
Total long-term debt outstanding — KMI | 8,088 | 9,221 | |||||||||||||||
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | 100 | 100 | |||||||||||||||
Total long-term debt — KMI(d) | $ | 8,188 | $ | 9,321 | |||||||||||||
KMP and EPB | |||||||||||||||||
KMP | |||||||||||||||||
Senior notes, 2.65% through 9.00%, due 2014 through 2044 | $ | 17,100 | $ | 15,600 | |||||||||||||
Commercial paper borrowings(e) | 513 | 979 | |||||||||||||||
Credit facility due May 1, 2018 | — | — | |||||||||||||||
KMP subsidiary borrowings (as obligor) | |||||||||||||||||
TGP senior notes, 7.00% through 8.375%, due 2016 through 2037 | 1,790 | 1,790 | |||||||||||||||
EPNG senior notes, 5.95% through 8.625%, due 2017 through 2032 | 1,115 | 1,115 | |||||||||||||||
Copano senior notes, 7.125%, due April 1, 2021 | 332 | 332 | |||||||||||||||
Other miscellaneous subsidiary debt | 97 | 98 | |||||||||||||||
Total debt — KMP | 20,947 | 19,914 | |||||||||||||||
Less: Current portion of debt — KMP(f) | (1,337 | ) | (1,504 | ) | |||||||||||||
Total long-term debt — KMP(d) | 19,610 | 18,410 | |||||||||||||||
EPB | |||||||||||||||||
EPPOC | |||||||||||||||||
Senior notes, 4.10% through 7.50%, due 2015 through 2042 | 2,860 | 2,260 | |||||||||||||||
Credit facility due May 27, 2016(g) | — | — | |||||||||||||||
EPB subsidiary borrowings (as obligor) | |||||||||||||||||
Colorado Interstate Gas Company, L.L.C. (CIG), senior notes, 5.95% through 6.85%, due 2015 through 2037 | 475 | 475 | |||||||||||||||
SLNG senior notes, 9.50% through 9.75%, due 2014 through 2016 | 64 | 135 | |||||||||||||||
SNG notes, 4.40% through 8.00%, due 2017 through 2032 | 1,211 | 1,211 | |||||||||||||||
Other financing obligations | 181 | 175 | |||||||||||||||
Total debt — EPB | 4,791 | 4,256 | |||||||||||||||
Less: Current portion of debt — EPB | (41 | ) | (77 | ) | |||||||||||||
Total long-term debt — EPB(d) | 4,750 | 4,179 | |||||||||||||||
Total long-term debt outstanding — KMP and EPB | $ | 24,360 | $ | 22,589 | |||||||||||||
_______ | |||||||||||||||||
(a) | The senior secured term loan facility, due May 24, 2015, was repaid and replaced in May 2014 with a new unsecured senior term loan facility due May 6, 2017 (see “— Credit Facilities” below). | ||||||||||||||||
(b) | On June 30, 2014, El Paso Issuing Corporation, a wholly-owned subsidiary of El Paso Holdco LLC and the corporate co-issuer under certain guaranteed notes, merged with and into El Paso Holdco LLC, a wholly-owned subsidiary of KMI, and immediately thereafter, El Paso Holdco LLC merged with and into KMI pursuant to an internal restructuring transaction. KMI succeeded El Paso Holdco LLC as issuer with respect to these debt obligations. Consequently, El Paso Holdco LLC ceased to be an obligor with respect to approximately $3.6 billion of outstanding senior notes. Therefore, the condensed consolidating financial information that had previously been disclosed in the notes to our consolidated financial statements is no longer required as of June 30, 2014. | ||||||||||||||||
(c) | As of June 30, 2014 and December 31, 2013, the weighted average interest rates on KMI’s credit facility borrowings were 2.16% and 2.67%, respectively. | ||||||||||||||||
(d) | As of June 30, 2014 and December 31, 2013, our “Debt fair value adjustments” increased our combined debt balances by $1,973 million and $1,977 million, respectively. In addition to all unamortized debt discount/premium amounts and purchase accounting on our debt balances, our debt fair value adjustments also include (i) amounts associated with the offsetting entry for hedged debt; and (ii) any unamortized portion of proceeds received from the early termination of interest rate swap agreements. For further information about our debt fair value adjustments, see Note 5 “Risk Management—Debt Fair Value Adjustments.” | ||||||||||||||||
(e) | As of both June 30, 2014 and December 31, 2013, the average interest rate on KMP’s outstanding commercial paper borrowings was 0.28%. The borrowings under KMP’s commercial paper program were used principally to finance the acquisitions and capital expansions, and in the near term, KMP expects that its short-term liquidity and financing needs will be met primarily through borrowings made under its commercial paper program. | ||||||||||||||||
(f) | Amounts include outstanding commercial paper borrowings discussed above in footnote (e). | ||||||||||||||||
(g) | LIBOR plus 1.75%. | ||||||||||||||||
The estimated fair value of our outstanding debt balances (both short-term and long-term and including debt fair value adjustments), is disclosed below (in millions): | |||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||
Carrying | Estimated | Carrying | Estimated | ||||||||||||||
value | fair value | value | fair value | ||||||||||||||
Total debt | $ | 37,144 | $ | 38,484 | $ | 36,193 | $ | 36,248 | |||||||||
Schedule of Significant Long-Term Debt Issuances and Payments [Table Text Block] | ' | ||||||||||||||||
Following are significant long-term debt issuances and repayments made during the six months ended June 30, 2014: | |||||||||||||||||
KMI | |||||||||||||||||
Issuances | $650 million senior term loan facility due 2017 | ||||||||||||||||
Repayments | $1,528 million senior term loan facility due 2015 | ||||||||||||||||
KMP | |||||||||||||||||
Issuances | $750 million 3.50% notes due 2021 | ||||||||||||||||
$750 million 5.50% notes due 2044 | |||||||||||||||||
EPB (through EPPOC) | |||||||||||||||||
Issuances | $600 million 4.30% notes due 2024 | ||||||||||||||||
Schedule of preferred share distributions [Table Text Block] | ' | ||||||||||||||||
The following table provides information about KMGP’s per share distributions on 100,000 shares of its Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Per share cash distribution declared for the period(a) | $ | 10.423 | $ | 10.545 | $ | 20.756 | $ | 21.014 | |||||||||
Per share cash distribution paid in the period | $ | 10.333 | $ | 10.469 | $ | 20.903 | $ | 21.107 | |||||||||
_______ | |||||||||||||||||
(a) | On July 16, 2014, KMGP declared a distribution for the three months ended June 30, 2014, of $10.423 per share, which will be paid on August 18, 2014 to shareholders of record as of July 31, 2014. |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||||
Schedule of Common Stock Outstanding Roll Forward | ' | |||||||||||||||
The following table sets forth the changes in our outstanding shares during the six months ended June 30, 2014 and 2013. | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | 1,030,677,076 | 1,035,668,596 | ||||||||||||||
Shares repurchased and canceled | (2,780,337 | ) | — | |||||||||||||
Shares issued with conversions of EP Trust I Preferred securities | 2,820 | 74,134 | ||||||||||||||
Shares issued for exercised warrants | — | 16,886 | ||||||||||||||
Restricted shares vested | 10,145 | 9,814 | ||||||||||||||
Ending balance | 1,027,909,704 | 1,035,769,430 | ||||||||||||||
Schedule of Dividends Payable [Table Text Block] | ' | |||||||||||||||
The following table provides information about our per share dividends. | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Per common share cash dividend declared for the period | $ | 0.43 | $ | 0.4 | $ | 0.85 | $ | 0.78 | ||||||||
Per common share cash dividend paid in the period | $ | 0.42 | $ | 0.38 | $ | 0.83 | $ | 0.75 | ||||||||
Schedule of Warrants Outstanding Roll Forward [Table Text Block] | ' | |||||||||||||||
The table below sets forth the changes in our outstanding warrants during the six months ended June 30, 2014 and 2013. | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | 347,933,107 | 439,809,442 | ||||||||||||||
Warrants repurchased and canceled | (49,783,406 | ) | (25,781,031 | ) | ||||||||||||
Warrants issued with conversions of EP Trust I Preferred securities | 4,315 | 113,317 | ||||||||||||||
Warrants exercised | — | (21,208 | ) | |||||||||||||
Ending balance | 298,154,016 | 414,120,520 | ||||||||||||||
Schedule of Noncontrolling Interest | ' | |||||||||||||||
The caption “Noncontrolling interests” in our accompanying consolidated balance sheets consists of interests that we do not own in the following subsidiaries (in millions): | ||||||||||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
KMP | $ | 8,008 | $ | 7,642 | ||||||||||||
EPB | 4,392 | 4,122 | ||||||||||||||
KMR | 3,306 | 3,142 | ||||||||||||||
Other | 329 | 286 | ||||||||||||||
$ | 16,035 | $ | 15,192 | |||||||||||||
Schedule of noncontrolling interest contributions text block [Table Text Block] | ' | |||||||||||||||
The table below shows significant issuances to the public of common units or shares, the net proceeds from the issuances and the use of the proceeds during the six months ended June 30, 2014 by KMP, EPB and KMR (dollars in millions and units and shares in thousands). | ||||||||||||||||
Issuances | Common units/shares | Net proceeds | Use of proceeds | |||||||||||||
(in thousands) | (in millions) | |||||||||||||||
KMP | ||||||||||||||||
Issued under equity distribution agreement with UBS | ||||||||||||||||
2014 | 4,387 | $ | 335 | Reduced borrowings under KMP’s commercial paper program | ||||||||||||
Other issuances | ||||||||||||||||
Feb-14 | 7,935 | $ | 603 | Reduced borrowings under KMP’s commercial paper program that were used to fund KMP's APT acquisition in January 2014 | ||||||||||||
EPB | ||||||||||||||||
Issued under equity distribution agreement with Citigroup | ||||||||||||||||
2014 | 2,385 | $ | 75 | General partnership purposes | ||||||||||||
Other issuances | ||||||||||||||||
May-14 | 7,820 | $ | 242 | Issued to pay a portion of the purchase price for the May 2014 drop-down transaction | ||||||||||||
KMR | ||||||||||||||||
Issued under equity distribution agreement with Credit Suisse | ||||||||||||||||
2014 | 1,334 | $ | 97 | Purchased additional KMP i-units; KMP then used proceeds to reduce borrowings under its commercial paper program | ||||||||||||
Schedule of Distributions by Noncontrolling Interests [Table Text Block] | ' | |||||||||||||||
The following table provides information about distributions from our noncontrolling interests (in millions except per unit distribution amounts): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
KMP | ||||||||||||||||
Per unit cash distribution declared for the period | $ | 1.39 | $ | 1.32 | $ | 2.77 | $ | 2.62 | ||||||||
Per unit cash distribution paid in the period | $ | 1.38 | $ | 1.3 | $ | 2.74 | $ | 2.59 | ||||||||
Cash distributions paid in the period to the public | $ | 412 | $ | 307 | $ | 807 | $ | 606 | ||||||||
EPB | ||||||||||||||||
Per unit cash distribution declared for the period | $ | 0.65 | $ | 0.63 | $ | 1.3 | $ | 1.25 | ||||||||
Per unit cash distribution paid in the period | $ | 0.65 | $ | 0.62 | $ | 1.3 | $ | 1.23 | ||||||||
Cash distributions paid in the period to the public | $ | 84 | $ | 79 | $ | 167 | $ | 155 | ||||||||
KMR(a) | ||||||||||||||||
Share distributions paid in the period to the public | 2,083,523 | 1,502,562 | 4,036,493 | 3,072,680 | ||||||||||||
_______ | ||||||||||||||||
(a) | KMR’s distributions are paid in the form of additional shares or fractions thereof calculated by dividing the KMP cash distribution per common unit by the average of the market closing prices of a KMR share determined for a ten-trading day period ending on the trading day immediately prior to the ex-dividend date for the shares. Represents share distributions made in the period to noncontrolling interests and excludes 303,291 and 587,579 of shares distributed for the three and six months ended June 30, 2014, respectively, and 224,390 and 458,868 of shares distributed in the three months and six months ended June 30, 2013, respectively, on KMR shares we directly and indirectly own. On July 16, 2014, KMR declared a share distribution of 0.017397 shares per outstanding share, or 2,283,909 shares (of which 1,996,474 shares will be payable to the public), on August 14, 2014 to shareholders of record as of July 31, 2014, based on the $1.39 per common unit distribution declared by KMP. |
Risk_Management_Tables
Risk Management (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Derivative Instruments | ' | ||||||||||||||||||||||||||||
As of June 30, 2014, KMI and KMP had the following outstanding commodity forward contracts to hedge their forecasted energy commodity purchases and sales: | |||||||||||||||||||||||||||||
Net open position long/(short) | |||||||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (24.2 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (26.1 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | (26.7 | ) | Bcf | ||||||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (0.4 | ) | MMBbl | ||||||||||||||||||||||||||
Crude oil basis | (0.6 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (7.7 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | 0.2 | Bcf | |||||||||||||||||||||||||||
NGL fixed price | (0.8 | ) | MMBbl | ||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | ' | ||||||||||||||||||||||||||||
The following table summarizes the fair values of our derivative contracts included in our accompanying consolidated balance sheets as of June 30, 2014 and December 31, 2013 (in millions): | |||||||||||||||||||||||||||||
Fair Value of Derivative Contracts | |||||||||||||||||||||||||||||
Asset derivatives | Liability derivatives | ||||||||||||||||||||||||||||
June 30, | December 31, | June 30, | December 31, | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Balance sheet location | Fair value | Fair value | Fair value | Fair value | |||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas and crude derivative contracts | Other current assets/(Other current liabilities) | $ | 6 | $ | 18 | $ | (97 | ) | $ | (33 | ) | ||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 4 | 58 | (72 | ) | (30 | ) | |||||||||||||||||||||||
Subtotal | 10 | 76 | (169 | ) | (63 | ) | |||||||||||||||||||||||
Interest rate swap agreements | Other current assets/(Other current liabilities) | 90 | 87 | — | — | ||||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 211 | 172 | (46 | ) | (116 | ) | |||||||||||||||||||||||
Subtotal | 301 | 259 | (46 | ) | (116 | ) | |||||||||||||||||||||||
Total | 311 | 335 | (215 | ) | (179 | ) | |||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas, crude and NGL derivative contracts | Other current assets/(Other current liabilities) | 4 | 4 | (10 | ) | (5 | ) | ||||||||||||||||||||||
Subtotal | 4 | 4 | (10 | ) | (5 | ) | |||||||||||||||||||||||
Power derivative contracts | Other current assets/(Other current liabilities) | 3 | 7 | (49 | ) | (54 | ) | ||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 4 | 11 | (43 | ) | (73 | ) | |||||||||||||||||||||||
Subtotal | 7 | 18 | (92 | ) | (127 | ) | |||||||||||||||||||||||
Total | 11 | 22 | (102 | ) | (132 | ) | |||||||||||||||||||||||
Total derivatives | $ | 322 | $ | 357 | $ | (317 | ) | $ | (311 | ) | |||||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | ' | ||||||||||||||||||||||||||||
The following three tables summarize the impact of our derivative contracts on our accompanying consolidated statements of income for each of the three and six months ended June 30, 2014 and 2013 (in millions): | |||||||||||||||||||||||||||||
Derivatives in fair value hedging relationships | Location of gain/(loss) recognized in income on derivatives | Amount of gain/(loss) recognized in income | |||||||||||||||||||||||||||
on derivatives and related hedged item(a) | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Interest rate swap agreements | Interest expense | $ | 57 | $ | (219 | ) | $ | 112 | $ | (307 | ) | ||||||||||||||||||
Total | $ | 57 | $ | (219 | ) | $ | 112 | $ | (307 | ) | |||||||||||||||||||
Fixed rate debt | Interest expense | $ | (57 | ) | $ | 219 | $ | (112 | ) | $ | 307 | ||||||||||||||||||
Total | $ | (57 | ) | $ | 219 | $ | (112 | ) | $ | 307 | |||||||||||||||||||
_______ | |||||||||||||||||||||||||||||
(a) | Amounts reflect the change in the fair value of interest rate swap agreements and the change in the fair value of the associated fixed rate debt, which exactly offset each other as a result of no hedge ineffectiveness. | ||||||||||||||||||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain/(loss) | Location of gain/(loss) reclassified from Accumulated other comprehensive income into income (effective portion) | Amount of gain/(loss) reclassified from Accumulated other comprehensive income | Location of gain/(loss) recognized in income on | Amount of gain/(loss) | ||||||||||||||||||||||||
recognized in Other comprehensive income | into income (effective portion)(b) | derivative (ineffective portion and amount excluded from | recognized in income | ||||||||||||||||||||||||||
on derivative (effective portion)(a) | effectiveness testing) | on derivative | |||||||||||||||||||||||||||
(ineffective portion | |||||||||||||||||||||||||||||
and amount | |||||||||||||||||||||||||||||
excluded from | |||||||||||||||||||||||||||||
effectiveness testing) | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Three Months Ended June 30, | Three Months Ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Energy commodity | $ | (88 | ) | $ | 55 | Revenues—Natural | $ | — | $ | — | Revenues—Natural | $ | — | $ | — | ||||||||||||||
derivative contracts | gas sales | gas sales | |||||||||||||||||||||||||||
Revenues—Product | (19 | ) | 8 | Revenues—Product | (27 | ) | 9 | ||||||||||||||||||||||
sales and other | sales and other | ||||||||||||||||||||||||||||
Costs of sales | 5 | (5 | ) | Costs of sales | — | — | |||||||||||||||||||||||
Interest rate swap | (8 | ) | 7 | Interest expense | (2 | ) | — | Interest expense | — | — | |||||||||||||||||||
agreements | |||||||||||||||||||||||||||||
Total | $ | (96 | ) | $ | 62 | Total | $ | (16 | ) | $ | 3 | Total | $ | (27 | ) | $ | 9 | ||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain/(loss) | Location of gain/(loss) reclassified from Accumulated other comprehensive income into income (effective portion) | Amount of gain/(loss) reclassified from | Location of gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (ineffective portion and amount | ||||||||||||||||||||||||
recognized in Other comprehensive income | Accumulated other comprehensive income | excluded from | |||||||||||||||||||||||||||
on derivative (effective portion)(a) | into income | effectiveness testing) | |||||||||||||||||||||||||||
(effective portion)(b) | |||||||||||||||||||||||||||||
Six Months Ended June 30, | Six Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Energy commodity | $ | (131 | ) | $ | 23 | Revenues—Natural | $ | (9 | ) | $ | — | Revenues—Natural | $ | — | $ | — | |||||||||||||
derivative contracts | gas sales | gas sales | |||||||||||||||||||||||||||
Revenues—Product | (25 | ) | 13 | Revenues—Product | (32 | ) | 6 | ||||||||||||||||||||||
sales and other | sales and other | ||||||||||||||||||||||||||||
Costs of sales | 6 | (5 | ) | Costs of sales | — | — | |||||||||||||||||||||||
Interest rate swap | (10 | ) | 8 | Interest expense | (2 | ) | 1 | Interest expense | — | — | |||||||||||||||||||
agreements | |||||||||||||||||||||||||||||
Total | $ | (141 | ) | $ | 31 | Total | $ | (30 | ) | $ | 9 | Total | $ | (32 | ) | $ | 6 | ||||||||||||
_________ | |||||||||||||||||||||||||||||
(a) | We expect to reclassify an approximate $49 million loss associated with energy commodity price risk management activities included in our accumulated other comprehensive loss and noncontrolling interest balances as of June 30, 2014 into earnings during the next twelve months (when the associated forecasted sales and purchases are also expected to occur), however, actual amounts reclassified into earnings could vary materially as a result of changes in market prices. | ||||||||||||||||||||||||||||
(b) | Amounts reclassified were the result of the hedged forecasted transactions actually affecting earnings (i.e., when the forecasted sales and purchases actually occurred). | ||||||||||||||||||||||||||||
Derivatives not designated as accounting hedges | Location of gain/(loss) recognized in income on derivatives | Amount of gain/(loss) recognized in income on derivatives | |||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Energy commodity derivative contracts | Revenues—Natural gas sales | $ | (9 | ) | $ | 1 | $ | (16 | ) | $ | 2 | ||||||||||||||||||
Revenues—Product sales and other | 2 | (5 | ) | 1 | (3 | ) | |||||||||||||||||||||||
Costs of sales | (3 | ) | — | 7 | — | ||||||||||||||||||||||||
Other expense(income) | — | — | (2 | ) | — | ||||||||||||||||||||||||
Total | $ | (10 | ) | $ | (4 | ) | $ | (10 | ) | $ | (1 | ) | |||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||||||
Changes in the components of our “Accumulated other comprehensive loss” for the six months ended June 30, 2014 and 2013 are summarized as follows (in millions): | |||||||||||||||||||||||||||||
Net unrealized | Foreign | Pension and | Total | ||||||||||||||||||||||||||
gains/(losses) | currency | other | accumulated other | ||||||||||||||||||||||||||
on cash flow | translation | postretirement | comprehensive loss | ||||||||||||||||||||||||||
hedge derivatives | adjustments | liability adjustments | |||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | (3 | ) | $ | 2 | $ | (23 | ) | $ | (24 | ) | ||||||||||||||||||
Other comprehensive loss before reclassifications | (56 | ) | (2 | ) | 2 | (56 | ) | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | 12 | — | — | 12 | |||||||||||||||||||||||||
Net current-period other comprehensive loss | (44 | ) | (2 | ) | 2 | (44 | ) | ||||||||||||||||||||||
Balance as of June 30, 2014 | $ | (47 | ) | $ | — | $ | (21 | ) | $ | (68 | ) | ||||||||||||||||||
Net unrealized | Foreign | Pension and | Total | ||||||||||||||||||||||||||
gains/(losses) | currency | other | accumulated other | ||||||||||||||||||||||||||
on cash flow | translation | postretirement | comprehensive loss | ||||||||||||||||||||||||||
hedge derivatives | adjustments | liability adjustments | |||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 7 | $ | 51 | $ | (176 | ) | $ | (118 | ) | |||||||||||||||||||
Other comprehensive loss before reclassifications | 20 | (45 | ) | — | (25 | ) | |||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (5 | ) | — | — | (5 | ) | |||||||||||||||||||||||
Net current-period other comprehensive loss | 15 | (45 | ) | — | (30 | ) | |||||||||||||||||||||||
Balance as of June 30, 2013 | $ | 22 | $ | 6 | $ | (176 | ) | $ | (148 | ) | |||||||||||||||||||
Fair_Value_Tables
Fair Value (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||||||||||||||||||
The following tables present our derivative contracts subject to such netting agreements as of June 30, 2014 and December 31, 2013 (in millions): | ||||||||||||||||||||||||||||
Balance Sheet asset | Amounts not offset in the Balance Sheet | Net amount | ||||||||||||||||||||||||||
fair value measurements using | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Financial instruments | Cash collateral held(b) | |||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 3 | $ | 7 | $ | 11 | $ | 21 | $ | (19 | ) | $ | — | $ | 2 | |||||||||||||
Interest rate swap agreements | $ | — | $ | 301 | $ | — | $ | 301 | $ | (22 | ) | $ | — | $ | 279 | |||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 4 | $ | 46 | $ | 48 | $ | 98 | $ | (62 | ) | $ | — | $ | 36 | |||||||||||||
Interest rate swap agreements | $ | — | $ | 259 | $ | — | $ | 259 | $ | (28 | ) | $ | — | $ | 231 | |||||||||||||
Balance Sheet liability | Amounts not offset in the Balance Sheet | Net amount | ||||||||||||||||||||||||||
fair value measurements using | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Financial instruments | Collateral posted(c) | |||||||||||||||||||||||
As of June 30, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (10 | ) | $ | (134 | ) | $ | (127 | ) | $ | (271 | ) | $ | 19 | $ | 17 | $ | (235 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (46 | ) | $ | — | $ | (46 | ) | $ | 22 | $ | — | $ | (24 | ) | |||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (6 | ) | $ | (31 | ) | $ | (158 | ) | $ | (195 | ) | $ | 62 | $ | 17 | $ | (116 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (116 | ) | $ | — | $ | (116 | ) | $ | 28 | $ | — | $ | (88 | ) | |||||||||||
_______ | ||||||||||||||||||||||||||||
(a) | Level 1 consists primarily of New York Mercantile Exchange natural gas futures. Level 2 consists primarily of OTC WTI swaps. Level 3 consists primarily of WTI options, NGL options and power derivative contracts. | |||||||||||||||||||||||||||
(b) | Cash margin deposits held by KMP associated with its energy commodity contract positions and OTC swap agreements and reported within “Other current liabilities” on our accompanying consolidated balance sheets. | |||||||||||||||||||||||||||
(c) | Cash margin deposits posted by KMP associated with energy commodity contract positions and OTC swap agreements and reported within “Other current assets” on our accompanying consolidated balance sheets. | |||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | ' | |||||||||||||||||||||||||||
The table below provides a summary of changes in the fair value of our Level 3 energy commodity derivative contracts for each of the three and six months ended June 30, 2014 and 2013 (in millions): | ||||||||||||||||||||||||||||
Significant unobservable inputs (Level 3) | ||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Derivatives-net asset (liability) | ||||||||||||||||||||||||||||
Beginning of Period | $ | (100 | ) | $ | (142 | ) | $ | (110 | ) | $ | (155 | ) | ||||||||||||||||
Total gains or (losses) | ||||||||||||||||||||||||||||
Included in earnings | (21 | ) | (6 | ) | (14 | ) | (1 | ) | ||||||||||||||||||||
Included in other comprehensive loss | (9 | ) | 1 | (10 | ) | — | ||||||||||||||||||||||
Purchases(a) | — | 18 | — | 18 | ||||||||||||||||||||||||
Settlements | 14 | 15 | 18 | 24 | ||||||||||||||||||||||||
End of Period | $ | (116 | ) | $ | (114 | ) | $ | (116 | ) | $ | (114 | ) | ||||||||||||||||
The amount of total gains or (losses) for the period included in earnings attributable to the change in unrealized gains or (losses) relating to assets held at the reporting date | $ | (13 | ) | $ | 1 | $ | (16 | ) | $ | 4 | ||||||||||||||||||
_______ | ||||||||||||||||||||||||||||
(a) | Three and six month 2013 amounts represent the purchase of Level 3 energy commodity derivative contracts associated with KMP’s May 1, 2013 Copano acquisition. | |||||||||||||||||||||||||||
Schedule of Debt [Table Text Block] | ' | |||||||||||||||||||||||||||
The following table provides detail on the principal amount of our outstanding debt balances as of June 30, 2014 and December 31, 2013. The table amounts exclude all debt fair value adjustments, including debt discounts and premiums (in millions). | ||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||
KMI | ||||||||||||||||||||||||||||
Senior term loan facilities, variable rate, due May 24, 2015 and May 6, 2017(a) | $ | 650 | $ | 1,528 | ||||||||||||||||||||||||
Senior notes and debentures, 5.00% through 7.45%, due 2015 through 2098 | 1,815 | 1,815 | ||||||||||||||||||||||||||
Senior notes, 6.50% through 8.25%, due 2014 through 2037(b) | 3,623 | 3,830 | ||||||||||||||||||||||||||
Preferred securities, 4.75%, due March 31, 2028(b) | 280 | 280 | ||||||||||||||||||||||||||
Credit facility due May 6, 2019(c) | 820 | 175 | ||||||||||||||||||||||||||
Subsidiary borrowings (as obligor) | ||||||||||||||||||||||||||||
Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036 | 1,636 | 1,636 | ||||||||||||||||||||||||||
EPC Building, LLC, promissory note, 3.967%, due 2014 through 2035 | 457 | 461 | ||||||||||||||||||||||||||
Other miscellaneous debt | 52 | 221 | ||||||||||||||||||||||||||
Total debt — KMI | 9,333 | 9,946 | ||||||||||||||||||||||||||
Less: Current portion of debt — KMI | (1,245 | ) | (725 | ) | ||||||||||||||||||||||||
Total long-term debt outstanding — KMI | 8,088 | 9,221 | ||||||||||||||||||||||||||
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | 100 | 100 | ||||||||||||||||||||||||||
Total long-term debt — KMI(d) | $ | 8,188 | $ | 9,321 | ||||||||||||||||||||||||
KMP and EPB | ||||||||||||||||||||||||||||
KMP | ||||||||||||||||||||||||||||
Senior notes, 2.65% through 9.00%, due 2014 through 2044 | $ | 17,100 | $ | 15,600 | ||||||||||||||||||||||||
Commercial paper borrowings(e) | 513 | 979 | ||||||||||||||||||||||||||
Credit facility due May 1, 2018 | — | — | ||||||||||||||||||||||||||
KMP subsidiary borrowings (as obligor) | ||||||||||||||||||||||||||||
TGP senior notes, 7.00% through 8.375%, due 2016 through 2037 | 1,790 | 1,790 | ||||||||||||||||||||||||||
EPNG senior notes, 5.95% through 8.625%, due 2017 through 2032 | 1,115 | 1,115 | ||||||||||||||||||||||||||
Copano senior notes, 7.125%, due April 1, 2021 | 332 | 332 | ||||||||||||||||||||||||||
Other miscellaneous subsidiary debt | 97 | 98 | ||||||||||||||||||||||||||
Total debt — KMP | 20,947 | 19,914 | ||||||||||||||||||||||||||
Less: Current portion of debt — KMP(f) | (1,337 | ) | (1,504 | ) | ||||||||||||||||||||||||
Total long-term debt — KMP(d) | 19,610 | 18,410 | ||||||||||||||||||||||||||
EPB | ||||||||||||||||||||||||||||
EPPOC | ||||||||||||||||||||||||||||
Senior notes, 4.10% through 7.50%, due 2015 through 2042 | 2,860 | 2,260 | ||||||||||||||||||||||||||
Credit facility due May 27, 2016(g) | — | — | ||||||||||||||||||||||||||
EPB subsidiary borrowings (as obligor) | ||||||||||||||||||||||||||||
Colorado Interstate Gas Company, L.L.C. (CIG), senior notes, 5.95% through 6.85%, due 2015 through 2037 | 475 | 475 | ||||||||||||||||||||||||||
SLNG senior notes, 9.50% through 9.75%, due 2014 through 2016 | 64 | 135 | ||||||||||||||||||||||||||
SNG notes, 4.40% through 8.00%, due 2017 through 2032 | 1,211 | 1,211 | ||||||||||||||||||||||||||
Other financing obligations | 181 | 175 | ||||||||||||||||||||||||||
Total debt — EPB | 4,791 | 4,256 | ||||||||||||||||||||||||||
Less: Current portion of debt — EPB | (41 | ) | (77 | ) | ||||||||||||||||||||||||
Total long-term debt — EPB(d) | 4,750 | 4,179 | ||||||||||||||||||||||||||
Total long-term debt outstanding — KMP and EPB | $ | 24,360 | $ | 22,589 | ||||||||||||||||||||||||
_______ | ||||||||||||||||||||||||||||
(a) | The senior secured term loan facility, due May 24, 2015, was repaid and replaced in May 2014 with a new unsecured senior term loan facility due May 6, 2017 (see “— Credit Facilities” below). | |||||||||||||||||||||||||||
(b) | On June 30, 2014, El Paso Issuing Corporation, a wholly-owned subsidiary of El Paso Holdco LLC and the corporate co-issuer under certain guaranteed notes, merged with and into El Paso Holdco LLC, a wholly-owned subsidiary of KMI, and immediately thereafter, El Paso Holdco LLC merged with and into KMI pursuant to an internal restructuring transaction. KMI succeeded El Paso Holdco LLC as issuer with respect to these debt obligations. Consequently, El Paso Holdco LLC ceased to be an obligor with respect to approximately $3.6 billion of outstanding senior notes. Therefore, the condensed consolidating financial information that had previously been disclosed in the notes to our consolidated financial statements is no longer required as of June 30, 2014. | |||||||||||||||||||||||||||
(c) | As of June 30, 2014 and December 31, 2013, the weighted average interest rates on KMI’s credit facility borrowings were 2.16% and 2.67%, respectively. | |||||||||||||||||||||||||||
(d) | As of June 30, 2014 and December 31, 2013, our “Debt fair value adjustments” increased our combined debt balances by $1,973 million and $1,977 million, respectively. In addition to all unamortized debt discount/premium amounts and purchase accounting on our debt balances, our debt fair value adjustments also include (i) amounts associated with the offsetting entry for hedged debt; and (ii) any unamortized portion of proceeds received from the early termination of interest rate swap agreements. For further information about our debt fair value adjustments, see Note 5 “Risk Management—Debt Fair Value Adjustments.” | |||||||||||||||||||||||||||
(e) | As of both June 30, 2014 and December 31, 2013, the average interest rate on KMP’s outstanding commercial paper borrowings was 0.28%. The borrowings under KMP’s commercial paper program were used principally to finance the acquisitions and capital expansions, and in the near term, KMP expects that its short-term liquidity and financing needs will be met primarily through borrowings made under its commercial paper program. | |||||||||||||||||||||||||||
(f) | Amounts include outstanding commercial paper borrowings discussed above in footnote (e). | |||||||||||||||||||||||||||
(g) | LIBOR plus 1.75%. | |||||||||||||||||||||||||||
The estimated fair value of our outstanding debt balances (both short-term and long-term and including debt fair value adjustments), is disclosed below (in millions): | ||||||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||
value | fair value | value | fair value | |||||||||||||||||||||||||
Total debt | $ | 37,144 | $ | 38,484 | $ | 36,193 | $ | 36,248 | ||||||||||||||||||||
Reportable_Segments_Tables
Reportable Segments (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||||||||||
Financial information by segment follows (in millions): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Revenues | ||||||||||||||||
Natural Gas Pipelines | ||||||||||||||||
Revenues from external customers | $ | 2,464 | $ | 2,054 | 5,021 | 3,809 | ||||||||||
Intersegment revenues | 1 | — | 5 | 1 | ||||||||||||
CO2–KMP | 454 | 460 | 937 | 889 | ||||||||||||
Products Pipelines–KMP | 524 | 443 | 1,058 | 897 | ||||||||||||
Terminals–KMP | ||||||||||||||||
Revenues from external customers | 420 | 343 | 811 | 680 | ||||||||||||
Intersegment revenues | 1 | 1 | 1 | 1 | ||||||||||||
Kinder Morgan Canada–KMP | 68 | 75 | 137 | 147 | ||||||||||||
Other | (2 | ) | (2 | ) | 2 | 2 | ||||||||||
Total segment revenues | 3,930 | 3,374 | 7,972 | 6,426 | ||||||||||||
Other revenues | 9 | 9 | 18 | 18 | ||||||||||||
Less: Total intersegment revenues | (2 | ) | (1 | ) | (6 | ) | (2 | ) | ||||||||
Total consolidated revenues | $ | 3,937 | $ | 3,382 | $ | 7,984 | $ | 6,442 | ||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Segment EBDA(a) | ||||||||||||||||
Natural Gas Pipelines(b) | $ | 955 | $ | 1,424 | $ | 2,026 | $ | 2,323 | ||||||||
CO2–KMP | 332 | 358 | 695 | 700 | ||||||||||||
Products Pipelines–KMP(c) | 202 | 12 | 410 | 197 | ||||||||||||
Terminals–KMP | 233 | 206 | 447 | 392 | ||||||||||||
Kinder Morgan Canada–KMP(d) | 40 | 50 | 88 | 243 | ||||||||||||
Other | — | -5 | 7 | (1 | ) | |||||||||||
Total segment EBDA | 1,762 | 2,045 | 3,673 | 3,854 | ||||||||||||
Total segment DD&A expense | (502 | ) | (445 | ) | (998 | ) | (860 | ) | ||||||||
Total segment amortization of excess cost of investments | (11 | ) | (9 | ) | (21 | ) | (18 | ) | ||||||||
Other revenues | 9 | 9 | 18 | 18 | ||||||||||||
General and administrative expense | (154 | ) | (183 | ) | (326 | ) | (323 | ) | ||||||||
Interest expense, net of unallocable interest income | (444 | ) | (428 | ) | (894 | ) | (837 | ) | ||||||||
Unallocable income tax expense | (163 | ) | (208 | ) | (354 | ) | (395 | ) | ||||||||
Loss from discontinued operations, net of tax | — | — | — | (2 | ) | |||||||||||
Total consolidated net income | $ | 497 | $ | 781 | $ | 1,098 | $ | 1,437 | ||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Assets | ||||||||||||||||
Natural Gas Pipelines | $ | 52,081 | $ | 52,357 | ||||||||||||
CO2–KMP | 4,761 | 4,708 | ||||||||||||||
Products Pipelines–KMP | 6,927 | 6,648 | ||||||||||||||
Terminals–KMP | 8,340 | 6,888 | ||||||||||||||
Kinder Morgan Canada–KMP | 1,690 | 1,677 | ||||||||||||||
Other | 522 | 568 | ||||||||||||||
Total segment assets | 74,321 | 72,846 | ||||||||||||||
Corporate assets(e) | 2,043 | 2,339 | ||||||||||||||
Total consolidated assets | $ | 76,364 | $ | 75,185 | ||||||||||||
_______ | ||||||||||||||||
(a) | Includes revenues, earnings from equity investments, allocable interest income, and other, net, less operating expenses, allocable income taxes, and other income, net. Operating expenses include natural gas purchases and other costs of sales, operations and maintenance expenses, and taxes, other than income taxes. | |||||||||||||||
(b) | Three and six month 2013 amounts include a $558 million non-cash gain from the remeasurement of KMP’s previously held equity interest in Eagle Ford Gathering to fair value. See Note 2 for further discussion. | |||||||||||||||
(c) | Three and six month 2013 amounts include increases in operating expense of $162 million and $177 million, respectively, associated with adjustments to legal liabilities related to both transportation rate case and environmental matters. | |||||||||||||||
(d) | Six month 2013 amount includes a $141 million increase in earnings from the after-tax gain on the sale of KMP’s investments in the Express pipeline system. | |||||||||||||||
(e) | Includes cash and cash equivalents, margin and restricted deposits, unallocable interest receivable, prepaid assets and deferred charges, risk management assets related to debt fair value adjustments and miscellaneous corporate assets (such as information technology and telecommunications equipment) not allocated to individual segments. |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Benefit Plans (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | |||||||||||||||||||||||||||||||
The components of net benefit plan (credit) expense for our pension and other postretirement benefit (OPEB) plans are as follows (in millions): | ||||||||||||||||||||||||||||||||
Pension Benefits | OPEB | Pension Benefits | OPEB | |||||||||||||||||||||||||||||
Three Months Ended June 30, | Three Months Ended June 30, | Six Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Service cost | $ | 6 | $ | 6 | $ | — | $ | — | $ | 13 | $ | 12 | $ | — | $ | — | ||||||||||||||||
Interest cost | 28 | 23 | 6 | 6 | 55 | 46 | 13 | 11 | ||||||||||||||||||||||||
Expected return on assets | (43 | ) | (44 | ) | (6 | ) | (5 | ) | (86 | ) | (88 | ) | (12 | ) | (10 | ) | ||||||||||||||||
Amortization of prior service costs (credits) | — | 1 | (1 | ) | — | — | 1 | (2 | ) | — | ||||||||||||||||||||||
Amortization of net actuarial loss | — | — | 1 | 1 | — | — | 1 | 2 | ||||||||||||||||||||||||
Settlement gain(a) | — | — | — | — | — | (3 | ) | — | — | |||||||||||||||||||||||
Net benefit plan (credit) expense | $ | (9 | ) | $ | (14 | ) | $ | — | $ | 2 | $ | (18 | ) | $ | (32 | ) | $ | — | $ | 3 | ||||||||||||
_______ | ||||||||||||||||||||||||||||||||
(a) | Reflects the gain recognized upon the February 2013 settlement of our obligations under the El Paso Supplemental Executive Retirement Plan. |
Income_Taxes_Tables
Income Taxes (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||||||
Income taxes from continuing operations included in our accompanying consolidated statements of income were as follows (in millions, except percentages): | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Income tax expense | $ | 178 | $ | 225 | $ | 378 | $ | 504 | ||||||||
Effective tax rate | 26 | % | 22 | % | 26 | % | 26 | % |
Reconciliation_of_Significant_1
Reconciliation of Significant Asset Balances (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Reconciliation of Significant Assets Balances | ' | |||||||
The following is a reconciliation between KMP’s and EPB’s significant asset and liability balances as reported in KMP’s and EPB’s Quarterly Reports on Form 10-Q for the quarter ended June 30, 2014 and Annual Reports on Form 10-K for the year ended December 31, 2013 and our consolidated asset and liability balances as shown on our accompanying consolidated balance sheets (in millions): | ||||||||
June 30, | 31-Dec-13 | |||||||
2014 | ||||||||
Cash and cash equivalents - KMI(a) | $ | 50 | $ | 116 | ||||
Cash and cash equivalents - KMP | 263 | 404 | ||||||
Cash and cash equivalents - EPB | 50 | 78 | ||||||
Cash and cash equivalents | $ | 363 | $ | 598 | ||||
Property, plant and equipment, net–KMI(a) | $ | 2,505 | $ | 2,563 | ||||
Property, plant and equipment, net–KMP | 29,285 | 27,405 | ||||||
Property, plant and equipment, net–EPB | 5,817 | 5,879 | ||||||
Property, plant and equipment, net | $ | 37,607 | $ | 35,847 | ||||
Goodwill–KMI(a) | $ | 17,910 | $ | 17,935 | ||||
Goodwill–KMP | 6,721 | 6,547 | ||||||
Goodwill–EPB | 22 | 22 | ||||||
Goodwill | $ | 24,653 | $ | 24,504 | ||||
Current portion of debt–KMI(a) | $ | 1,245 | $ | 725 | ||||
Current portion of debt–KMP | 1,337 | 1,504 | ||||||
Current portion of debt–EPB | 41 | 77 | ||||||
Current portion of debt | $ | 2,623 | $ | 2,306 | ||||
Long-term debt outstanding–KMI(a) | $ | 8,088 | $ | 9,221 | ||||
Long-term debt outstanding–KMP | 19,610 | 18,410 | ||||||
Long-term debt outstanding–EPB(b) | 4,750 | 4,179 | ||||||
Long-term debt outstanding | $ | 32,448 | $ | 31,810 | ||||
_______ | ||||||||
(a) | Includes assets and liabilities of KMI’s consolidated subsidiaries, excluding KMP and EPB. | |||||||
(b) | Excludes debt fair value adjustments. Decrease to long-term debt for debt fair value adjustments totaled $8 million as of both June 30, 2014 and December 31, 2013. |
General_Organization_Details
General Organization (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Billions, except Share data in Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
General [Line Items] | ' | ' | ' | ' |
Enterprise Market Value | ' | ' | 110 | ' |
Miles Of Pipeline | 80,000 | ' | 80,000 | ' |
Number Of Pipeline Terminals Owned Interest In And Or Operated | 180 | ' | 180 | ' |
Kinder Morgan Management, LLC [Member] | ' | ' | ' | ' |
General [Line Items] | ' | ' | ' | ' |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 100.00% | ' | ' | ' |
Kinder Morgan Energy Partners, L.P. [Member] | ' | ' | ' | ' |
General [Line Items] | ' | ' | ' | ' |
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 10.00% | ' | ' | ' |
El Paso Pipeline Partners, L.P. [Member] | ' | ' | ' | ' |
General [Line Items] | ' | ' | ' | ' |
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 40.00% | ' | ' | ' |
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 2.00% | ' | ' | ' |
Convertible Preferred Stock [Member] | ' | ' | ' | ' |
General [Line Items] | ' | ' | ' | ' |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 10 | 10 | 10 | 10 |
General_Basis_of_Presentation_
General Basis of Presentation (Details) (USD $) | Jun. 30, 2014 | 31-May-14 |
Segment Reporting Information [Line Items] | ' | ' |
Equity Investment, Classify as Equity Method, Percentage | 50.00% | ' |
Goodwill, Impaired, Accumulated Impairment Loss | ' | $0 |
General_Earnings_Per_Share_Det
General Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Net (loss) income attributable to Kinder Morgan, Inc. | $284 | $277 | $571 | $569 |
Class P [Member] | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Net (loss) income attributable to Kinder Morgan, Inc. | 281 | 276 | 565 | 567 |
Participating Securities [Member] | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Net (loss) income attributable to Kinder Morgan, Inc. | $3 | $1 | $6 | $2 |
Restricted Stock [Member] | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 7 | 2 | 7 | 2 |
Warrant [Member] | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 309 | 420 | 325 | 429 |
Convertible Preferred Stock [Member] | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 10 | 10 | 10 | 10 |
Acquisitions_and_Divestitures_2
Acquisitions and Divestitures American Petroleum Tankers and State Class Tankers Acquisition (Details) (USD $) | 6 Months Ended | 0 Months Ended | ||||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jan. 17, 2014 | Jan. 17, 2014 | Jan. 17, 2014 |
Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Dynamics NASSCO shipyard [Member] | ||||
APT acquisition [Member] | American Petroleum Tankers [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ||||||
bbl | State Class Tankers [Member] | |||||||
bbl | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Cash consideration | ' | ' | ' | ' | ' | $961 | ' | ' |
Number of Vessels | ' | ' | ' | ' | ' | ' | 5 | 4 |
Tanker Capacity (MBbl) | ' | ' | ' | ' | ' | ' | 330,000 | 330,000 |
Payments to Acquire Property, Plant, and Equipment | 1,717 | 1,345 | ' | ' | ' | ' | ' | 214 |
KMP's preliminary purchase price allocation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' | ' | 6 | ' | ' |
Property, plant, and equipment | ' | ' | ' | ' | ' | 951 | ' | ' |
Goodwill | 24,653 | ' | 24,504 | 6,721 | 6,547 | 67 | ' | ' |
Other assets | ' | ' | ' | ' | ' | 3 | ' | ' |
Total assets acquired | ' | ' | ' | ' | ' | 1,027 | ' | ' |
Current liabilities | ' | ' | ' | ' | ' | -5 | ' | ' |
Unfavorable Customer Contracts | ' | ' | ' | ' | ' | ($61) | ' | ' |
Acquisitions_and_Divestitures_3
Acquisitions and Divestitures Other (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||
In Millions, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | 3-May-13 | Jun. 30, 2014 | 1-May-13 | 3-May-13 | 1-May-13 | Jun. 02, 2013 | 31-May-13 | 1-May-13 | Jun. 30, 2013 | Jun. 30, 2013 |
Copano Energy LLC [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Common Units [Member] | Common Units [Member] | Legado Resources [Member] | Legado Resources [Member] | Eagle Ford Gathering LLC [Member] | Gain on remeasurement of previously held equity investments to fair value [Member] | Gain on remeasurement of previously held equity investments to fair value [Member] | ||||||
Copano Energy LLC [Member] | Copano Energy LLC [Member] | Copano Energy LLC [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Eagle Ford Gathering LLC [Member] | Eagle Ford Gathering LLC [Member] | |||||||||
Copano Energy LLC [Member] | Copano Energy LLC [Member] | Goldsmith-Landreth Field Unit [Member] | Goldsmith-Landreth Field Unit [Member] | Copano Energy LLC [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ||||||||||||
Copano Energy LLC [Member] | Copano Energy LLC [Member] | |||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | ' | $5,200 | ' | ' | ' | ' | $298 | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Percent of Transaction Unit for Unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable,Unit for Unit Exchange Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4563 | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,371,210 | ' | ' | ' | ' | ' | ' |
Common unit consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,733 | ' | ' | ' | ' | ' | ' |
Business Acquisition, Share Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $86.08 | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' |
Gain on remeasurement of previously held equity interest in Eagle Ford Gathering to fair value (Note 2) | 0 | 558 | 0 | 558 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 558 | 558 |
Equity Method Investments, Fair Value Disclosure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 704 | ' | ' |
Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146 | ' | ' |
Current assets (including cash acquired of $30) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 218 | ' | ' | ' | ' | ' | ' | ' |
Property, plant, and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,788 | ' | ' | ' | ' | ' | ' | ' |
Cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' | ' | ' | ' | ' | ' |
Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 24,653 | ' | 24,653 | ' | 24,504 | ' | 6,721 | 6,547 | ' | ' | 1,248 | ' | ' | ' | ' | ' | ' | ' |
Other intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,375 | ' | ' | ' | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13 | ' | ' | ' | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,942 | ' | ' | ' | ' | ' | ' | ' |
Less: Fair value of previously held 50% interest in Eagle Ford Gathering, LLC | ' | ' | ' | ' | ' | ' | ' | ' | -704 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,238 | ' | ' | ' | ' | ' | ' | ' |
Current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -208 | ' | ' | ' | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -28 | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,252 | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -17 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Working Capital Items | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived Intangible Assets Acquired | ' | ' | ' | ' | ' | ' | ' | ' | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Liabilities, Goodwill | ' | ' | ' | ' | ' | -285 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 280 | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Long-Term Asset Retirement Obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12 | ' | ' | ' |
Acquisitions_and_Divestitures_4
Acquisitions and Divestitures Pro Forma Information (Details) (APT and SCT, Copano and the Goldsmith Landreth Unit acquisitions, USD $) | 6 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2013 |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' |
Revenues | $7,196 |
Income from Continuing Operations, Net of Tax | 1,401 |
Loss from Discontinued Operations, Net of Tax | -2 |
Net Income | 1,399 |
Net Income Attributable to Noncontrolling Interests | -855 |
Net Income Attributable to Kinder Morgan, Inc. | $544 |
Class P [Member] | ' |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' |
Diluted Earnings Per Class P Share | $0.52 |
Acquisitions_and_Divestitures_5
Acquisitions and Divestitures Divestitures (Details) (USD $) | 3 Months Ended | 6 Months Ended | 0 Months Ended | 0 Months Ended | ||||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jan. 18, 2013 | Mar. 14, 2013 | Mar. 14, 2013 | Mar. 14, 2013 | Mar. 14, 2013 | 1-May-13 |
Equity Method Investments [Member] | Spectra Energy Corp. [Member] | Spectra Energy Corp. [Member] | Spectra Energy Corp. [Member] | Spectra Energy Corp. [Member] | Copano Energy LLC [Member] | |||||
BBPP Holdings Ltda [Member] | Equity method investment & Suboordinated debt investment [Member] | Equity method investment & Suboordinated debt investment [Member] | Gain on sale of investments in Express pipeline system [Member] | Income Tax Expense [Member] | Eagle Ford Gathering LLC [Member] | |||||
Express Pipeline System [Member] | Express Pipeline System [Member] | Equity method investment & Suboordinated debt investment [Member] | Equity method investment & Suboordinated debt investment [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ||||||
KMP Sale of Express Pipeline System [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Express Pipeline System [Member] | Express Pipeline System [Member] | |||||||
KMP Sale of Express Pipeline System [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ||||||||
KMP Sale of Express Pipeline System [Member] | KMP Sale of Express Pipeline System [Member] | |||||||||
Schedule of Divestitures [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | 33.33% | ' | ' | ' | ' |
Net Proceeds from Sale of Equity Method Investments | ' | ' | ' | ' | ' | ' | $402 | ' | ' | ' |
Working Capital Settlement and Selling Expenses | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' |
Proceeds from Sale of Equity Method Investments | ' | ' | 0 | 491 | 88 | ' | 403 | ' | ' | ' |
Equity Method Investment, Realized Gain (Loss) on Disposal | ' | ' | ' | ' | ' | ' | ' | 225 | ' | ' |
Income Tax Expense (Benefit) | 178 | 225 | 378 | 504 | ' | ' | ' | ' | 84 | ' |
Equity Method Investments | ' | ' | ' | ' | ' | ' | 67 | ' | ' | 146 |
Notes Receivable, Related Parties | ' | ' | ' | ' | ' | ' | $110 | ' | ' | ' |
Acquisitions_and_Divestitures_6
Acquisitions and Divestitures Drop-down of Assets to EPB (Details) (El Paso Pipeline Partners, L.P. [Member], Drop-Down of Assets to EPB [Member], USD $) | 0 Months Ended | |
3-May-14 | 2-May-14 | |
Business Acquisition [Line Items] | ' | ' |
Consideration Transfered Between Entities Under Common Control, Total | ' | $2,000,000,000 |
Consideration Transfered Between Entities Under Common Control, Aggregate Consideration Received | ' | 972,000,000 |
Consideration Transfered Between Entities Under Common Control, Cash | 875,000,000 | ' |
Consideration Transfered Between Entities Under Common Control, Equity | 3,059,924 | ' |
Ruby Pipeline Holding Company LLC [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | ' | 50.00% |
Gulf LNG Holdings Group LLC [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | ' | 50.00% |
Young Gas Storage [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Equity Method Investment, Ownership Percentage | ' | 47.50% |
Ruby and Gulf LNG [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Entities Under Common Control Transaction Proportional Share of Equity Investment Debt Borrowings, Value | ' | $1,000,000,000 |
Entities Under Common Control Transaction, Proportional Share of Debt Borrowings | ' | 50.00% |
Debt_Details
Debt (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | 6-May-14 | 2-May-14 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 29, 2014 |
In Millions, except Per Share data, unless otherwise specified | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | El Paso LLC [Member] | El Paso LLC [Member] | Capital Trust I [Member] | Capital Trust I [Member] | Kinder Morgan Finance Company, LLC [Member] | Kinder Morgan Finance Company, LLC [Member] | EPC Building LLC [Member] | Kinder Morgan G.P., Inc. [Member] | Kinder Morgan G.P., Inc. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | TGP [Member] | TGP [Member] | EPNG [Member] | EPNG [Member] | Copano Energy LLC [Member] | Copano Energy LLC [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | Colorado Interstate Gas Company, L.L.C. [Member] | Colorado Interstate Gas Company, L.L.C. [Member] | Southern LNG Company, L.L.C.(SLNG) [Member] | Southern LNG Company, L.L.C.(SLNG) [Member] | SNG [Member] | SNG [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. and El Paso Pipeline Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. and El Paso Pipeline Partners, L.P. [Member] | Low [Member] | Low [Member] | Low [Member] | Low [Member] | Low [Member] | Low [Member] | Low [Member] | Low [Member] | Low [Member] | Low [Member] | High [Member] | High [Member] | High [Member] | High [Member] | High [Member] | High [Member] | High [Member] | High [Member] | High [Member] | High [Member] | London Interbank Offered Rate (LIBOR) [Member] | Promissory note [Member] | Promissory note [Member] | Financial Guarantee [Member] | ||
Senior unsecured term loan facility, variable, due May 6, 2017 [Member] | Senior unsecured term loan facility, variable, due May 6, 2017 [Member] | Senior secured term loan facility, variable, due May 24, 2015 [Member] | Senior secured term loan facility, variable, due May 24, 2015 [Member] | Senior notes and debentures, 5.00% through 7.45% [Member] | Senior notes and debentures, 5.00% through 7.45% [Member] | KMI Other Miscellaneous Subsidiary Debt [Member] | KMI Other Miscellaneous Subsidiary Debt [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | KMI Senior notes and debentures, 6.50% through 8.25%, due 2014 through 2037 [Member] [Member] | KMI Senior notes and debentures, 6.50% through 8.25%, due 2014 through 2037 [Member] [Member] | KMI EP Capital Trust I, due 2028 [Member] | KMI EP Capital Trust I, due 2028 [Member] | KMI 5.70% through 6.40% series, due 2016 through 2036 [Member] | KMI 5.70% through 6.40% series, due 2016 through 2036 [Member] | KMI Promissory note 3.967%, due 2014 through 2035 [Member] [Member] | KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | KMP Senior notes, 2.65% through 9.00%, due 2014 through 2044 [Member] | KMP Senior notes, 2.65% through 9.00%, due 2014 through 2044 [Member] | KMP Other Miscellaneous Subsidiary Debt [Member] | KMP Other Miscellaneous Subsidiary Debt [Member] | Commercial Paper [Member] | KMP Senior notes, 7.00% through 8.375%, due 2016 through 2037 [Member] | KMP Senior notes, 7.00% through 8.375%, due 2016 through 2037 [Member] | KMP 5.95% through 8.625%, due 2017 through 2032 [Member] | KMP 5.95% through 8.625%, due 2017 through 2032 [Member] | KMP 7.125% Senior Notes due April 1, 2021 (Copano) [Member] | KMP 7.125% Senior Notes due April 1, 2021 (Copano) [Member] | EPB Notes, 4.10% through 7.50%, due 2015 through 2042 [Member] [Member] | EPB Notes, 4.10% through 7.50%, due 2015 through 2042 [Member] [Member] | EPB Notes, 5.95% through 6.85%, due 2015 through 2037 [Member] | EPB Notes, 5.95% through 6.85%, due 2015 through 2037 [Member] | EPB Senior notes, 9.50% and 9.75%, due 2014 and 2016 [Member] | EPB Senior notes, 9.50% and 9.75%, due 2014 and 2016 [Member] | EPB Notes, 4.40% through 8.00%, due 2017 through 2032 [Member] | EPB Notes, 4.40% through 8.00%, due 2017 through 2032 [Member] | EPB Other Financial Obligations [Member] [Member] | EPB Other Financial Obligations [Member] [Member] | Kinder Morgan, Inc. [Member] | El Paso LLC [Member] | Kinder Morgan Finance Company, LLC [Member] | Kinder Morgan Energy Partners, L.P. [Member] | TGP [Member] | EPNG [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | Colorado Interstate Gas Company, L.L.C. [Member] | Southern LNG Company, L.L.C.(SLNG) [Member] | SNG [Member] | Kinder Morgan, Inc. [Member] | El Paso LLC [Member] | Kinder Morgan Finance Company, LLC [Member] | Kinder Morgan Energy Partners, L.P. [Member] | TGP [Member] | EPNG [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | Colorado Interstate Gas Company, L.L.C. [Member] | Southern LNG Company, L.L.C.(SLNG) [Member] | SNG [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | EPC Building LLC [Member] | EPC Building LLC [Member] | El Paso Holdco [Member] | |||||||||||||
KMI Credit Facility [Member] | KMI Credit Facility [Member] | Senior notes and debentures, 5.00% through 7.45% [Member] | KMI Senior notes and debentures, 6.50% through 8.25%, due 2014 through 2037 [Member] [Member] | KMI 5.70% through 6.40% series, due 2016 through 2036 [Member] | KMP Senior notes, 2.65% through 9.00%, due 2014 through 2044 [Member] | KMP Senior notes, 7.00% through 8.375%, due 2016 through 2037 [Member] | KMP 5.95% through 8.625%, due 2017 through 2032 [Member] | EPB Notes, 4.10% through 7.50%, due 2015 through 2042 [Member] [Member] | EPB Notes, 5.95% through 6.85%, due 2015 through 2037 [Member] | EPB Senior notes, 9.50% and 9.75%, due 2014 and 2016 [Member] | EPB Notes, 4.40% through 8.00%, due 2017 through 2032 [Member] | Senior notes and debentures, 5.00% through 7.45% [Member] | KMI Senior notes and debentures, 6.50% through 8.25%, due 2014 through 2037 [Member] [Member] | KMI 5.70% through 6.40% series, due 2016 through 2036 [Member] | KMP Senior notes, 2.65% through 9.00%, due 2014 through 2044 [Member] | KMP Senior notes, 7.00% through 8.375%, due 2016 through 2037 [Member] | KMP 5.95% through 8.625%, due 2017 through 2032 [Member] | EPB Notes, 4.10% through 7.50%, due 2015 through 2042 [Member] [Member] | EPB Notes, 5.95% through 6.85%, due 2015 through 2037 [Member] | EPB Senior notes, 9.50% and 9.75%, due 2014 and 2016 [Member] | EPB Notes, 4.40% through 8.00%, due 2017 through 2032 [Member] | Revolving Credit Facility [Member] | KMI Promissory note 3.967%, due 2014 through 2035 [Member] [Member] | KMI Promissory note 3.967%, due 2014 through 2035 [Member] [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EPB credit facility due May 27, 2016 [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes | ' | ' | ' | ' | $650 | $650 | $650 | $1,528 | $1,815 | $1,815 | ' | ' | ' | ' | $3,623 | $3,830 | $280 | $280 | $1,636 | $1,636 | ' | ' | ' | ' | ' | $17,100 | $15,600 | ' | ' | ' | $1,790 | $1,790 | $1,115 | $1,115 | $332 | $332 | ' | ' | $2,860 | $2,260 | $475 | $475 | $64 | $135 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | 820 | 175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,211 | 1,211 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 457 | 461 | ' |
Other Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52 | 221 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97 | 98 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 181 | 175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | ' | 9,333 | 9,946 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,947 | 19,914 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,791 | 4,256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Current Maturities | ' | ' | -1,245 | -725 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,337 | -1,504 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -41 | -77 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term-debt, Excluding Current Maturities, Includeing Preferred Interest | ' | ' | 8,088 | 9,221 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Value, Issued | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | 34,521 | 33,887 | 8,188 | 9,321 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,610 | 18,410 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,750 | 4,179 | ' | ' | 24,360 | 22,589 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial Paper | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 513 | 979 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.75% | ' | ' | ' | 3.97% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 6.50% | 5.70% | 2.65% | 7.00% | 5.95% | 4.10% | 5.95% | 9.50% | 4.40% | 7.45% | 8.25% | 6.40% | 9.00% | 8.38% | 8.63% | 7.50% | 6.85% | 9.75% | 8.00% | ' | ' | ' | ' |
Liquidation value of note | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnified by parent of subsidiary debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600 |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.16% | 2.67% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.28% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Fair Value Adjustments | $1,973 | $1,977 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($8) | ($8) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' |
Debt_Credit_Facilities_Details
Debt Credit Facilities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | 7-May-14 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | 2-May-14 | Dec. 31, 2013 | Jun. 30, 2014 | 6-May-14 | 5-May-14 | 7-May-14 | Jun. 30, 2014 | 6-May-14 | Jun. 30, 2014 | Jun. 30, 2014 | Jan. 15, 2014 | Jun. 30, 2014 | 7-May-14 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jan. 15, 2014 | 7-May-14 |
Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | Senior secured term loan facility, variable, due May 24, 2015 [Member] | Senior secured term loan facility, variable, due May 24, 2015 [Member] | KMI Credit Facility [Member] | KMI Credit Facility [Member] | KMI Credit Facility [Member] | Senior unsecured term loan facility, variable, due May 6, 2017 [Member] | Senior unsecured term loan facility, variable, due May 6, 2017 [Member] | Senior unsecured term loan facility, variable, due May 6, 2017 [Member] | KMP five-year senior unsecured revolving credit facility maturing May 1, 2018. [Member] | KMP five-year senior unsecured revolving credit facility maturing May 1, 2018. [Member] | KMP five-year senior unsecured revolving credit facility maturing May 1, 2018. [Member] | EPB Credit Facility [Member] | Minimum [Member] | LIBOR Alternate Base Rate [Member] | LIBOR Alternate Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Federal Funds Rate [Member] | Syndicate of of financial institutions [Member] | Period in which acquisition occured [Member] | |
Revolving Credit Facility [Member] | Senior unsecured revolving credit facility [Member] | Unsecured Debt [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | El Paso Pipeline Partners Operating Company, L.L.C. [Member] | Kinder Morgan, Inc. [Member] | Minimum [Member] | Maximum [Member] | Kinder Morgan, Inc. [Member] | Minimum [Member] | Maximum [Member] | Kinder Morgan, Inc. [Member] | UBS [Member] | Maximum [Member] | |||||||
Senior unsecured revolving credit facility [Member] | Senior unsecured revolving credit facility [Member] | Senior unsecured revolving credit facility [Member] | Revolving Credit Facility [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Revolving Credit Facility [Member] | Restrictive covenant [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Unsecured Debt [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Unsecured Debt [Member] | Liquidity Facility [Member] | Kinder Morgan, Inc. [Member] | |||||||||||||||
Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Restrictive covenant [Member] | ||||||||||||||||||||||||||
Revolving Credit Facility [Member] | ||||||||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,750,000,000 | $1,750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 650,000,000 | 1,528,000,000 | ' | ' | ' | ' | 650,000,000 | 650,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.75 | ' | ' | ' | ' | ' | ' | ' | 5.5 |
Line of Credit Facility, Amount Outstanding | 820,000,000 | 175,000,000 | ' | ' | ' | 0 | 0 | 0 | 0 | ' | ' | 820,000,000 | ' | ' | ' | ' | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | 58,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 205,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indemnified by parent of subsidiary debt | ' | ' | ' | ' | ' | 175,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 872,000,000 | ' | ' | ' | ' | ' | 1,807,000,000 | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000,000 | 2,700,000,000 | 3,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | 2.25% | 1.00% | 0.25% | 1.25% | 0.50% | ' | ' |
LIBOR Basis, Period For Eurodollar Loan | ' | ' | ' | ' | '1 month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial Paper | ' | ' | ' | ' | ' | $513,000,000 | $979,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $513,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Issuances_and_Repaymenrts
Debt Issuances and Repaymenrts (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Kinder Morgan, Inc. [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Repayments of Debt | $3,178 | $1,673 |
Kinder Morgan, Inc. [Member] | Senior unsecured term loan facility, variable, due May 6, 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Proceeds from Issuance of Long-term Debt | 650 | ' |
Kinder Morgan Energy Partners, L.P. [Member] | KMP 3.50% Senior Notes due March 1, 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Proceeds from Issuance of Long-term Debt | 750 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | ' |
Kinder Morgan Energy Partners, L.P. [Member] | KMP 5.50% Senior Notes due March 1, 2044 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Proceeds from Issuance of Long-term Debt | 750 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | ' |
El Paso Pipeline Partners Operating Company, L.L.C. [Member] | EPB 4.30% Senior Notes due May 1, 2024 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Proceeds from Issuance of Long-term Debt | 600 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.30% | ' |
Senior secured term loan credit facility, due May 24, 2015 [Member] | Kinder Morgan, Inc. [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Repayments of Debt | $1,528 | ' |
Debt_Kinder_Morgan_GP_Inc_Pref
Debt Kinder Morgan G.P., Inc. Preferred Shares (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jul. 16, 2014 |
Kinder Morgan G.P., Inc. [Member] | Kinder Morgan G.P., Inc. [Member] | Kinder Morgan G.P., Inc. [Member] | Kinder Morgan G.P., Inc. [Member] | Subsequent Event [Member] | |||
KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | Kinder Morgan G.P., Inc. [Member] | |||
KMI $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock [Member] | |||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Outstanding | 0 | 0 | 100,000 | ' | 100,000 | ' | ' |
Preferred Stock, Dividends Per Share, Declared | ' | ' | ' | $10.54 | $20.76 | $21.01 | $10.42 |
Preferred Stock, Dividends, Per Share, Cash Paid | ' | ' | $10.33 | $10.47 | $20.90 | $21.11 | ' |
Stockholders_Equity_Common_Equ
Stockholders' Equity Common Equity (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | |||||||||||
In Millions, except Share data, unless otherwise specified | Mar. 04, 2014 | Oct. 17, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jul. 16, 2014 |
Conversion of EP Trust I Preferred Securities [Member] | Conversion of EP Trust I Preferred Securities [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Subsequent Event [Member] | |||||||||
KMI EP Capital Trust I, due 2028 [Member] | KMI EP Capital Trust I, due 2028 [Member] | ||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock and or Warrant Repurchase Program, Authorized Amount | $100 | $250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | ' | ' | ' | ' | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares, Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,027,909,704 | 1,035,769,430 | 1,027,909,704 | 1,035,769,430 | 1,030,677,076 | 1,035,668,596 | ' | ' | ' |
Stock Repurchased and Retired During Period, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,780,337 | 0 | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,820 | 74,134 | ' |
Shares Issued During Period for Exercised Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 16,886 | ' | ' | ' | ' | ' |
Restriced shares vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,145 | 9,814 | ' | ' | ' | ' | ' |
Dividends Per Common Share Declared for the Period | ' | ' | $0.43 | $0.40 | $0.85 | $0.78 | ' | ' | ' | ' | $0.43 | $0.40 | $0.85 | $0.78 | ' | ' | ' | ' | $0.43 |
Common Stock, Dividends, Per Share, Cash Paid | ' | ' | $0.42 | $0.38 | $0.83 | $0.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Ratio | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | 40 | ' | 40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding | ' | ' | 298,154,016 | 414,120,520 | 298,154,016 | 414,120,520 | 347,933,107 | 439,809,442 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Warrants Repurchased | ' | ' | ' | ' | -49,783,406 | -25,781,031 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock and Warrants Issued During Period Number of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | 4,315 | 113,317 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Exercised, Number of Warrants | ' | ' | ' | ' | 0 | -21,208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_Noncontrol
Stockholders' Equity Noncontrolling Interests (Details) (USD $) | 6 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | |||||||||||||||||
In Millions, except Share data, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Feb. 28, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | 31-May-14 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jul. 16, 2014 | Jul. 16, 2014 | Jul. 16, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | Kinder Morgan Management, LLC [Member] | Kinder Morgan Management, LLC [Member] | Kinder Morgan Management, LLC [Member] | Kinder Morgan Management, LLC [Member] | Kinder Morgan Management, LLC [Member] | Other noncontrolling interests [Member] | Other noncontrolling interests [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Equity distribution agreement [Member] | Equity distribution agreement [Member] | Equity distribution agreement [Member] | Additional Paid-in Capital [Member] | |||
Kinder Morgan Energy Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | Kinder Morgan Management, LLC [Member] | Kinder Morgan Energy Partners, L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | Kinder Morgan Management, LLC [Member] | |||||||||||||||||||||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interests | $16,035 | $15,192 | ' | $8,008 | ' | $8,008 | ' | $7,642 | ' | $4,392 | ' | $4,392 | ' | $4,122 | $3,306 | ' | $3,306 | ' | $3,142 | $329 | $286 | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Shares or Equity Units Issued | ' | ' | 7,935,000 | ' | ' | ' | ' | ' | 7,820,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,387,000 | 2,385,000 | 1,334,000 | ' |
Noncontrolling intreests, proceeds from equity issuance | 1,321 | ' | 603 | ' | ' | ' | ' | ' | 242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 335 | 75 | 97 | ' |
Increase accumulated deferred income taxes | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impact of subsidiary equity transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 |
Declared dividend (usd per share) | ' | ' | ' | $1.39 | $1.32 | $2.77 | $2.62 | ' | ' | $0.65 | $0.63 | $1.30 | $1.25 | ' | ' | ' | ' | ' | ' | ' | ' | $1.39 | $0.65 | ' | ' | ' | ' | ' |
Distribution Made to Limited Partner, Distributions Paid, Per Unit | ' | ' | ' | $1.38 | $1.30 | $2.74 | $2.59 | ' | ' | $0.65 | $0.62 | $1.30 | $1.23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | ' | ' | ' | $412 | $307 | $807 | $606 | ' | ' | $84 | $79 | $167 | $155 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Shares Distributed to Noncontrolling Interest Holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,083,523 | 1,502,562 | 4,036,493 | 3,072,680 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsidiary Share Distribution, Shares Distributed to Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 303,291 | 224,390 | 587,579 | 458,868 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share distribution per share outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.017397 | ' | ' | ' | ' |
Noncontrolling Interest, Share Distribution Declared to Noncontrolling Interest Holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,283,909 | ' | ' | ' | ' |
Common Stock Dividends, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,996,474 | ' | ' | ' | ' |
Risk_Management_Energy_Commodi
Risk Management Energy Commodity Price Risk Management (Details) (Hedge Funds, Equity Long (Short) [Member], Forward Contracts [Member]) | Jun. 30, 2014 |
MMBbls | |
Designated as Hedging Instrument [Member] | Crude Oil Fixed Price (MMBbl) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | -24.2 |
Designated as Hedging Instrument [Member] | Natural Gas Fixed Price (Bcf) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | -26.1 |
Designated as Hedging Instrument [Member] | Natural Gas Basis (Bcf) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | -26.7 |
Not Designated as Hedging Instrument [Member] | Crude Oil Fixed Price (MMBbl) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | -0.4 |
Not Designated as Hedging Instrument [Member] | Natural Gas Fixed Price (Bcf) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | -7.7 |
Not Designated as Hedging Instrument [Member] | Natural Gas Basis (Bcf) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | 0.2 |
Not Designated as Hedging Instrument [Member] | Crude Oil Basis (MMBbl) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | -0.6 |
Not Designated as Hedging Instrument [Member] | Natural Gas Liquids Fixed Price (MMBbl) [Member] | ' |
Derivative [Line Items] | ' |
Net open position long/(short) | -0.8 |
Risk_Management_Interest_Rate_
Risk Management Interest Rate Risk Management (Details) (USD $) | 1 Months Ended | ||||||
In Millions, unless otherwise specified | Feb. 28, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Feb. 28, 2014 | Dec. 31, 2013 | Jun. 30, 2014 |
Kinder Morgan Energy Partners, L.P. [Member] | fixed-to-variable interest rate swap agreement [Member] | fixed-to-variable interest rate swap agreement [Member] | fixed-to-variable interest rate swap agreement [Member] | fixed-to-variable interest rate swap agreement [Member] | fixed-to-variable interest rate swap agreement [Member] | 3.50% Senior Notes due March 1, 2021 [Member] | |
Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | $725 | $725 | $5,175 | $500 | $4,675 | ' |
Number of Fixed-to-Variable Interest Rate Swap Agreements Entered Into | 4 | ' | ' | ' | ' | ' | ' |
Interest rate, stated percentage | ' | ' | ' | ' | ' | ' | 3.50% |
Risk_Management_Fair_Value_of_
Risk Management Fair Value of Derivative Contracts (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | $322 | $357 |
Derivative Liability, Fair Value, Net | -317 | -311 |
Designated as Hedging Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 311 | 335 |
Derivative Liability, Fair Value, Net | -215 | -179 |
Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 11 | 22 |
Derivative Liability, Fair Value, Net | -102 | -132 |
Commodity Contract [Member] | Designated as Hedging Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 10 | 76 |
Derivative Liability, Fair Value, Net | -169 | -63 |
Commodity Contract [Member] | Designated as Hedging Contracts [Member] | Current-Fair value of derivative contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 6 | 18 |
Commodity Contract [Member] | Designated as Hedging Contracts [Member] | Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | -97 | -33 |
Commodity Contract [Member] | Designated as Hedging Contracts [Member] | Non-current-Fair value of derivative contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 4 | 58 |
Commodity Contract [Member] | Designated as Hedging Contracts [Member] | Non Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | -72 | -30 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 4 | 4 |
Derivative Liability, Fair Value, Net | -10 | -5 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Current-Fair value of derivative contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 4 | 4 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | -10 | -5 |
Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 301 | 259 |
Derivative Liability, Fair Value, Net | -46 | -116 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 7 | 18 |
Derivative Liability, Fair Value, Net | -92 | -127 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | Current-Fair value of derivative contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 3 | 7 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | -49 | -54 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | Non-current-Fair value of derivative contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 4 | 11 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | Non Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | -43 | -73 |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | Current-Fair value of derivative contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 90 | 87 |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | 0 | 0 |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | Non-current-Fair value of derivative contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Net | 211 | 172 |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | Non Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Net | ($46) | ($116) |
Risk_Management_Debt_Fair_Valu
Risk Management Debt Fair Value Adjustment (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' |
Increase (decrease) in debt fair value adjustment related to purchase accounting | $1,302 | $1,379 |
Amount the adjustment to fair value of debt was increased by related to the fair value of interest rate swaps | 255 | 143 |
Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge | 485 | 517 |
Amount the fair value of debt adjustment was decreased by related to unamortized debt discounts | $69 | $62 |
Amortization Period of Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge | '16 years | ' |
Risk_Management_Effect_of_Deri
Risk Management Effect of Derivative Contracts on the Income Statement (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | ($16) | $3 | ($30) | $9 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | -27 | 9 | -32 | 6 |
Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)recognized in OCI on derivative(effective portion) | -96 | 62 | -141 | 31 |
Interest Rate Swap [Member] | Interest expense [Member] | Fair Value Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss) recognized in income on derivative | 57 | -219 | 112 | -307 |
Interest Rate Swap [Member] | Interest expense [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | -2 | 0 | -2 | 1 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 0 | 0 | 0 | 0 |
Interest Rate Swap [Member] | Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)recognized in OCI on derivative(effective portion) | -8 | 7 | -10 | 8 |
Commodity Contract [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Loss to be reclassified within twelve months | ' | ' | 49 | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -10 | -4 | -10 | -1 |
Commodity Contract [Member] | Interest expense [Member] | Fair Value Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss) recognized in income on derivative | -57 | 219 | -112 | 307 |
Commodity Contract [Member] | Revenues Natural Gas Sales [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -9 | 1 | -16 | 2 |
Commodity Contract [Member] | Revenues Natural Gas Sales [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | 0 | 0 | -9 | 0 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 0 | 0 | 0 | 0 |
Commodity Contract [Member] | Revenues-Product sales and other [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 2 | -5 | 1 | -3 |
Commodity Contract [Member] | Revenues-Product sales and other [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | -19 | 8 | -25 | 13 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | -27 | 9 | -32 | 6 |
Commodity Contract [Member] | Gas purchases and other costs of sales [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -3 | 0 | 7 | 0 |
Commodity Contract [Member] | Gas purchases and other costs of sales [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | 5 | -5 | 6 | -5 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 0 | 0 | 0 | 0 |
Commodity Contract [Member] | Other Income (Expense) [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | 0 | -2 | 0 |
Commodity Contract [Member] | Other Comprehensive Income (Loss) [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of gain/(loss)recognized in OCI on derivative(effective portion) | ($88) | $55 | ($131) | $23 |
Risk_Management_Credit_Risks_D
Risk Management Credit Risks (Details) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
notches | |
Kinder Morgan Energy Partners, L.P. [Member] | ' |
Credit Derivatives [Line Items] | ' |
Number of Credit Rating Notches | 2 |
Kinder Morgan Energy Partners, L.P. [Member] | One notch credit downgrade [Member] | ' |
Credit Derivatives [Line Items] | ' |
Additional Collateral, Aggregate Fair Value | 0 |
Kinder Morgan Energy Partners, L.P. [Member] | Two notch credit downgrade [Member] | ' |
Credit Derivatives [Line Items] | ' |
Additional Collateral, Aggregate Fair Value | 122,000,000 |
Kinder Morgan Energy Partners, L.P. [Member] | Commodity [Member] | ' |
Credit Derivatives [Line Items] | ' |
Letters of Credit Outstanding, Amount | 0 |
Kinder Morgan, Inc. [Member] | External Credit Rating, Non Investment Grade [Member] | ' |
Credit Derivatives [Line Items] | ' |
Additional Collateral, Aggregate Fair Value | 0 |
Kinder Morgan, Inc. [Member] | Commodity [Member] | ' |
Credit Derivatives [Line Items] | ' |
Letters of Credit Outstanding, Amount | 167,000,000 |
Risk_Management_Reporting_of_A
Risk Management Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | ($47) | $22 | ($47) | $22 | ($3) | $7 |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | 0 | 6 | 0 | 6 | 2 | 51 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -21 | -176 | -21 | -176 | -23 | -176 |
Accumulated other comprehensive loss | -68 | -148 | -68 | -148 | -24 | -118 |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax Portion Attributable To Parent | -37 | 36 | -56 | 20 | ' | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 6 | -1 | 12 | -5 | ' | ' |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ' | -44 | 15 | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 23 | -28 | -2 | -45 | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | ' | ' | 0 | 0 | ' | ' |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax | ' | ' | 2 | 0 | ' | ' |
Other Comprehensive Income Loss Reclassification Adjustment From AOCI Pension And Other Postretiremen tBenefit Plans Net Of Tax Portion Attributable To Parent | ' | ' | 0 | 0 | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 2 | 1 | 2 | 0 | ' | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | -6 | 8 | -44 | -30 | ' | ' |
OCI before Reclassifications [Member] | ' | ' | ' | ' | ' | ' |
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) before reclassifications, net of tax, portion attributable to parent | ' | ' | -56 | -25 | ' | ' |
Amounts reclassified from AOCI [Member] | ' | ' | ' | ' | ' | ' |
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' | ' | ' |
Other comprehensive income reclassified from accumulated other comprehensive income, net of tax, portion attributable to parent | ' | ' | $12 | ($5) | ' | ' |
Fair_Value_Fair_Value_of_Deriv
Fair Value Fair Value of Derivative Contracts (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | $322 | ' | $322 | ' | $357 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -317 | ' | -317 | ' | -311 |
Fair Value, Assets Liabilites Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' |
Beginning of Period | -100 | -142 | -110 | -155 | ' |
Total gains (losses), Included in earnings | -21 | -6 | -14 | -1 | ' |
Total gains (losses), Included in other comprehensive income | -9 | 1 | -10 | 0 | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Liability Net, Purchases | 0 | 18 | 0 | 18 | ' |
Settlements | 14 | 15 | 18 | 24 | ' |
End of Period | -116 | -114 | -116 | -114 | ' |
The amount of total gains or (losses) for the period included in earnings attributable to the change in unrealized gains or (losses) relating to assets held at the reporting date | -13 | 1 | -16 | 4 | ' |
Quoted prices in active markets for identical assets (Level 1) [Member] | Commodity Contract [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 3 | ' | 3 | ' | 4 |
Derivative Liability | -10 | ' | -10 | ' | -6 |
Quoted prices in active markets for identical assets (Level 1) [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 0 | ' | 0 | ' | 0 |
Derivative Liability | 0 | ' | 0 | ' | 0 |
Significant other observable inputs (Level 2) [Member] | Commodity Contract [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 7 | ' | 7 | ' | 46 |
Derivative Liability | -134 | ' | -134 | ' | -31 |
Significant other observable inputs (Level 2) [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 301 | ' | 301 | ' | 259 |
Derivative Liability | -46 | ' | -46 | ' | -116 |
Significantunobservable inputs (Level 3) [Member] | Commodity Contract [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 11 | ' | 11 | ' | 48 |
Derivative Liability | -127 | ' | -127 | ' | -158 |
Significantunobservable inputs (Level 3) [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 0 | ' | 0 | ' | 0 |
Derivative Liability | 0 | ' | 0 | ' | 0 |
Estimate of Fair Value Measurement [Member] | Commodity Contract [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 21 | ' | 21 | ' | 98 |
Derivative Liability | -271 | ' | -271 | ' | -195 |
Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Assets | 301 | ' | 301 | ' | 259 |
Derivative Liability | -46 | ' | -46 | ' | -116 |
Energy Related Derivative [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 2 | ' | 2 | ' | 36 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -235 | ' | -235 | ' | -116 |
Interest Rate Swap [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 279 | ' | 279 | ' | 231 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -24 | ' | -24 | ' | -88 |
Not Offset on Balance Sheet [Member] | Energy Related Derivative [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Net Asset Adjustment for Financial Instruments subject to Master Netting Agreement but Presented Gross | -19 | ' | -19 | ' | -62 |
Derivative, Collateral, Obligation to Return Cash | 0 | ' | 0 | ' | 0 |
Net Liability Adjustment for Financial Instruments Subject to Master Netting Agreement but Presented Gross | 19 | ' | 19 | ' | 62 |
Derivative, Collateral, Right to Reclaim Cash | 17 | ' | 17 | ' | 17 |
Not Offset on Balance Sheet [Member] | Interest Rate Swap [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Net Asset Adjustment for Financial Instruments subject to Master Netting Agreement but Presented Gross | -22 | ' | -22 | ' | -28 |
Derivative, Collateral, Obligation to Return Cash | 0 | ' | 0 | ' | 0 |
Net Liability Adjustment for Financial Instruments Subject to Master Netting Agreement but Presented Gross | 22 | ' | 22 | ' | 28 |
Derivative, Collateral, Right to Reclaim Cash | $0 | ' | $0 | ' | $0 |
Fair_Value_Fair_Value_of_Finan
Fair Value Fair Value of Financial Instruments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Reported Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total debt | $37,144 | $36,193 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total debt | $38,484 | $36,248 |
Reportable_Segments_Details
Reportable Segments (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Gain on remeasurement of previously held equity interest in Eagle Ford Gathering to fair value (Note 2) | $0 | $558 | $0 | $558 | ' |
Rate Reparations Refunds And Other Litigation and Environmental Reserve Adjustment, Expense Portion | ' | 162 | ' | 177 | ' |
Revenues | 3,937 | 3,382 | 7,984 | 6,442 | ' |
Total segment depreciation, depletion and amortization | -502 | -445 | -998 | -860 | ' |
Total segment amortization of excess cost of investments | -11 | -9 | -21 | -18 | ' |
General and administrative expenses(c) | -154 | -183 | -326 | -323 | ' |
Unallocable Interest Expense Net Of Interest Income | -444 | -428 | -894 | -837 | ' |
Unallocable income tax expense | -163 | -208 | -354 | -395 | ' |
Loss from discontinued operations, net of tax | 0 | 0 | 0 | -2 | ' |
Net income | 497 | 781 | 1,098 | 1,437 | ' |
Assets | 76,364 | ' | 76,364 | ' | 75,185 |
Gain on Sale of Investments | 0 | 0 | 0 | 225 | ' |
Natural Gas Pipelines [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 2,464 | 2,054 | 5,021 | 3,809 | ' |
Segment earnings before DD&A | 955 | 1,424 | 2,026 | 2,323 | ' |
Assets | 52,081 | ' | 52,081 | ' | 52,357 |
CO2 [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 454 | 460 | 937 | 889 | ' |
Segment earnings before DD&A | 332 | 358 | 695 | 700 | ' |
Assets | 4,761 | ' | 4,761 | ' | 4,708 |
Products Pipelines [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 524 | 443 | 1,058 | 897 | ' |
Segment earnings before DD&A | 202 | 12 | 410 | 197 | ' |
Assets | 6,927 | ' | 6,927 | ' | 6,648 |
Terminals [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 420 | 343 | 811 | 680 | ' |
Segment earnings before DD&A | 233 | 206 | 447 | 392 | ' |
Assets | 8,340 | ' | 8,340 | ' | 6,888 |
Kinder Morgan Canada [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 68 | 75 | 137 | 147 | ' |
Segment earnings before DD&A | 40 | 50 | 88 | 243 | ' |
Assets | 1,690 | ' | 1,690 | ' | 1,677 |
All Other Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | -2 | -2 | 2 | 2 | ' |
Segment earnings before DD&A | 0 | -5 | 7 | -1 | ' |
Assets | 522 | ' | 522 | ' | 568 |
Operating Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 3,930 | 3,374 | 7,972 | 6,426 | ' |
Segment earnings before DD&A | 1,762 | 2,045 | 3,673 | 3,854 | ' |
Assets | 74,321 | ' | 74,321 | ' | 72,846 |
Corporate [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Assets | 2,043 | ' | 2,043 | ' | 2,339 |
Unallocated [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 9 | 9 | 18 | 18 | ' |
Intersegment Revenues [Member] | Natural Gas Pipelines [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 1 | 0 | 5 | 1 | ' |
Intersegment Revenues [Member] | Terminals [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 1 | 1 | 1 | 1 | ' |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | -2 | -1 | -6 | -2 | ' |
Express Pipeline System [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Canada [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Gain on Sale of Investments | ' | ' | ' | 141 | ' |
Copano Energy LLC [Member] | Other Income (Expense) [Member] | Eagle Ford Gathering LLC [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Gain on remeasurement of previously held equity interest in Eagle Ford Gathering to fair value (Note 2) | ' | $558 | ' | $558 | ' |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Benefit Plans (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $6 | $6 | $13 | $12 |
Interest cost | 28 | 23 | 55 | 46 |
Expected return on assets | -43 | -44 | -86 | -88 |
Amortization of prior service costs (credits) | 0 | 1 | 0 | 1 |
Amortization of net actuarial loss | 0 | 0 | 0 | 0 |
Settlement gain | 0 | 0 | 0 | -3 |
Net benefit (credit) cost | -9 | -14 | -18 | -32 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 6 | 6 | 13 | 11 |
Expected return on assets | -6 | -5 | -12 | -10 |
Amortization of prior service costs (credits) | -1 | 0 | -2 | 0 |
Amortization of net actuarial loss | 1 | 1 | 1 | 2 |
Settlement gain | 0 | 0 | 0 | 0 |
Net benefit (credit) cost | $0 | $2 | $0 | $3 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit) | $178 | $225 | $378 | $504 |
Effective tax rate | 26.00% | 22.00% | 26.00% | 26.00% |
Federal statutory income tax rate | ' | ' | 35.00% | 35.00% |
Florida Gas Pipeline [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Ownership interest | 50.00% | 50.00% | 50.00% | 50.00% |
EPNG and EP Midstream [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Ownership interest | ' | 50.00% | ' | 50.00% |
Litigation_Environmental_and_O1
Litigation, Environmental and Other Contingencies Federal Energy Regulatory Commission Proceedings (Details) (Various Shippers [Member], Unfavorable Regulatory Action [Member], Federal Energy Regulatory Commission [Member], Regulated Operation [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Repreations, Refunds, and Rate Reductions [Member] | Annual Rate Reductions [Member] | Revenue Subject to Refund [Member] | 2008 rate case and the 2010 rate case [Member] | |
Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Opinion 517 issued and implemented (rehearing pending); and Opinion 528 issued and is awaiting filing of court document) [Member] | |
SFPP [Member] | SFPP [Member] | SFPP [Member] | EPNG [Member] | |
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Loss Contingency Period of Time Litigation Concerns | '2 years | ' | ' | ' |
Loss Contingency, Damages Sought, Value | ' | $20 | $100 | ' |
Loss Contingency, Pending Claims, Number | ' | ' | ' | 2 |
Litigation_Environmental_and_O2
Litigation, Environmental and Other Contingencies California Public Utilities Commission Proceedings (Details) (Regulated Operation [Member], Various Shippers [Member], California Public Utilities Commission [Member], Pending Litigation [Member], USD $) | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jan. 30, 2012 | Jul. 20, 2013 |
In Millions, unless otherwise specified | SFPP [Member] | Reparations [Member] | Annual Revenue Reductions [Member] | Intrastate [Member] | Intrastate [Member] |
SFPP [Member] | SFPP [Member] | SFPP [Member] | Calnev Pipe Line LLC [Member] | ||
Unfavorable Regulatory Action [Member] | Unfavorable Regulatory Action [Member] | ||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Loss Contingency, Number of Judges | 2 | ' | ' | ' | ' |
Public Utilities, Requested Rate Increase (Decrease), Percentage | ' | ' | ' | -7.00% | 36.00% |
Loss Contingency, Damages Sought, Value | ' | $400 | $30 | ' | ' |
Litigation_Environmental_and_O3
Litigation, Environmental and Other Contingencies Other Commercial Matters (Details) (USD $) | 6 Months Ended | 0 Months Ended | 123 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 1 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Oct. 25, 2013 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Oct. 25, 2013 | Mar. 31, 2011 |
Plains Gas Solutions, LLC v. Tennessee Gas Pipeline Company, L.L.C. et al [Member] | Union Pacific Railroad Company v. Santa Fe Pacific Pipelines, Inc., SFPP, L.P., Kinder Morgan Operating L.P. “Dâ€, Kinder Morgan G.P., Inc., et al. [Member] | Union Pacific Railroad Company v. Santa Fe Pacific Pipelines, Inc., SFPP, L.P., Kinder Morgan Operating L.P. “Dâ€, Kinder Morgan G.P., Inc., et al. [Member] | Union Pacific Railroad Company v. Santa Fe Pacific Pipelines, Inc., SFPP, L.P., Kinder Morgan Operating L.P. “Dâ€, Kinder Morgan G.P., Inc., et al. [Member] | SFPP, L.P. vs. UPRR on relocation costs [Member] | Severstal Sparrows Point Crane Collapse [Member] | Severstal Sparrows Point Crane Collapse [Member] | Price Reporting Litigation [Member] | 2014 - 2023 [Member] | EPB Acquisition of 25% Ownership Interest in SNG [Member] | |
SFPP L.P. [Member] | SFPP L.P. [Member] | SFPP L.P. [Member] | SFPP L.P. [Member] | Kinder Morgan Bulk Terminals, Inc. [Member] | Kinder Morgan Bulk Terminals, Inc. [Member] | Kinder Morgan Bulk Terminals, Inc. [Member] | Union Pacific Railroad Company v. Santa Fe Pacific Pipelines, Inc., SFPP, L.P., Kinder Morgan Operating L.P. “Dâ€, Kinder Morgan G.P., Inc., et al. [Member] | Allen vs El Paso GP [Member] | ||
Pending Litigation [Member] | Pending Litigation [Member] | Loss on Long-term Purchase Commitment [Member] | Pending Litigation [Member] | Negligence Claim [Member] | Negligence Claim [Member] | Pending Litigation [Member] | SFPP L.P. [Member] | El Paso Pipeline Partners, L.P. [Member] | ||
Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | SNG [Member] | ||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lessee Leasing Arrangements, Operating Leases, Term of Contract | ' | ' | '10 years | ' | ' | ' | ' | ' | '10 years | ' |
Loss Contingency, Initial Award Amount, Annual Rent Payable | ' | ' | ' | $14 | ' | ' | ' | ' | ' | ' |
Loss contingency, settlement tentative by court, value | ' | ' | ' | ' | 42.65 | 13.79 | 15.55 | ' | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | ' | ' | 95 | ' | ' | ' | ' | ' | ' |
Loss Contingency, Interest Associated with Judgment Amount | ' | ' | ' | 20 | ' | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Value | $100 | $22.25 | ' | ' | ' | ' | $30 | $140 | ' | ' |
Business Acquisition, Additional Percentage of Interest Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% |
Litigation_Environmental_and_O4
Litigation, Environmental and Other Contingencies General (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Estimated Litigation Liability | $688 | $624 |
Litigation_Environmental_and_O5
Litigation, Environmental and Other Contingencies Environmental Matters (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 1969 | Jun. 30, 2014 | Dec. 31, 2013 | Aug. 06, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2000 | Jun. 30, 2014 | Aug. 31, 2007 | Dec. 31, 2010 | Jul. 24, 2013 | Nov. 08, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Rare Metals Inc. [Member] | Kinder Morgan, Inc. [Member] | Kinder Morgan, Inc. [Member] | Roosevelt Irrigation District v. Kinder Morgan G.P., Inc., Kinder Morgan Energy Partners, L.P. , U.S. District Court, Arizona [Member] | Roosevelt Irrigation District v. Kinder Morgan G.P., Inc., Kinder Morgan Energy Partners, L.P. , U.S. District Court, Arizona [Member] | Paulsboro, New Jersey Liquids Terminal [Member] | PHMSA Inspection of Carteret Terminal [Member] | Lower Passaic River Study Area [Member] | Portland Harbor Superfund Site, Willamette River, Portland, Oregon [Member] | Portland Harbor Superfund Site, Willamette River, Portland, Oregon [Member] | Environmental Issue [Member] | Environmental Issue [Member] | Environmental Issue [Member] | Environmental Issue [Member] | Environmental Issue [Member] | Minimum [Member] | Maximum [Member] | Preferred alternative [Member] | |||
Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Settled [Member] | Pending Litigation [Member] | Environmental Protection Agency [Member] | Environmental Protection Agency [Member] | United States District Court, Southern District of California, case number 07CV1883WCAB [Member] | United States District Court, Southern District of California, case number 07CV1883WCAB [Member] | Southeast Louisiana Flood Protection Litigation [Member] | Plaquemines Parish, Louisiana (Docket No. 60-999) [Member] | Pennsylvania Department of Environmental Protection Notice of Alleged Violations [Member] | Lower Passaic River Study Area [Member] | Lower Passaic River Study Area [Member] | Lower Passaic River Study Area [Member] | ||||||
SFPP Phoenix Terminal [Member] | SFPP Phoenix Terminal [Member] | SFPP Phoenix Terminal [Member] | GATX Terminals Corporation (n/k/a KMLT) [Member] | Allocation Process Negotiations and Awaiting Record of Decision [Member] | Allocation Process Negotiations and Awaiting Record of Decision [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Board of Commissioners of the Southeast Louisiana Flood Protection Authority - East [Member] | Parish of Plaquemines, Louisiana [Member] | Pennsylvania Department of Environmental Protection [Member] | Pending Litigation [Member] | Pending Litigation [Member] | Pending Litigation [Member] | |||||||
Unfavorable Regulatory Action [Member] | Unfavorable Regulatory Action [Member] | GATX Terminals Corporation (n/k/a KMLT) [Member] | GATX Terminals Corporation (n/k/a KMLT) [Member] | GATX Terminals Corporation (n/k/a KMLT) [Member] | Mission Valley Terminal Facility [Member] | Mission Valley Terminal Facility [Member] | TGP and SNG [Member] | Bastian Bay, Buras, Empire and Fort Jackson oil and gas fields of Plaquemines Parish [Member] | TGP's 300 Line Project [Member] | |||||||||||
KMEP and SFPP [Member] | KMEP and SFPP [Member] | Terminals | Parties | Kinder Morgan Energy Partners, L.P. [Member] | Kinder Morgan Energy Partners, L.P. [Member] | Tennessee Gas Pipeline Company LLC [Member] | Tennessee Gas Pipeline Company LLC [Member] | |||||||||||||
Terminals | ||||||||||||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Liquid Terminals | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Parties Involved In Site Cleanup Allocation Negotiations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90 | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Value | ' | ' | ' | ' | ' | ' | $175,000,000 | $1,000,000 | ' | ' | ' | ' | $170,000,000 | $365,000,000 | ' | ' | $1,500,000 | ' | ' | ' |
Loss Contingency, Number of Defendants | ' | ' | ' | ' | ' | 26 | 70 | ' | ' | ' | ' | ' | ' | ' | 100 | 17 | ' | ' | ' | ' |
Litigation, Environmental Settlement Amount, Percentage of Cost | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Uranium Mines | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation Settlement, Expense | ' | ' | ' | ' | ' | ' | ' | ' | 63,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Environmental Remediation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 365,000,000 | 3,200,000,000 | 1,700,000,000 |
Number of Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrual for environmental loss contingencies | 353,000,000 | 378,000,000 | ' | 190,000,000 | 208,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Environmental recoveries receivable | $14,000,000 | $14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation_Environmental_and_O6
Litigation, Environmental and Other Contingencies Other Contingencies (Details) (Debt Securities [Member], USD $) | Jun. 30, 2014 |
In Billions, unless otherwise specified | |
Kinder Morgan Energy Partners, L.P. [Member] | ' |
Loss Contingencies [Line Items] | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | $5.90 |
El Paso Pipeline Partners, L.P. [Member] | ' |
Loss Contingencies [Line Items] | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | 2.1 |
KMI Asset Drop Down [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ' |
Loss Contingencies [Line Items] | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | $5.20 |
Reconciliation_of_Significant_2
Reconciliation of Significant Asset Balances (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Cash and Cash Equivalents, at Carrying Value | $363 | $598 | $1,017 | $714 |
Property, plant and equipment, net (Note 12) | 37,607 | 35,847 | ' | ' |
Goodwill | 24,653 | 24,504 | ' | ' |
Debt, Current | 2,623 | 2,306 | ' | ' |
Long-term Debt and Capital Lease Obligations, Excluding Preferred Interest | 32,448 | 31,810 | ' | ' |
Debt Fair Value Adjustments | -1,973 | -1,977 | ' | ' |
Kinder Morgan, Inc. [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 50 | 116 | ' | ' |
Property, plant and equipment, net (Note 12) | 2,505 | 2,563 | ' | ' |
Goodwill | 17,910 | 17,935 | ' | ' |
Debt, Current | 1,245 | 725 | ' | ' |
Long-term debt excluding preferred interest | 8,088 | 9,221 | ' | ' |
Kinder Morgan Energy Partners, L.P. [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 263 | 404 | ' | ' |
Property, plant and equipment, net (Note 12) | 29,285 | 27,405 | ' | ' |
Goodwill | 6,721 | 6,547 | ' | ' |
Debt, Current | 1,337 | 1,504 | ' | ' |
Long-term Debt and Capital Lease Obligations | 19,610 | 18,410 | ' | ' |
El Paso Pipeline Partners, L.P. [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 50 | 78 | ' | ' |
Property, plant and equipment, net (Note 12) | 5,817 | 5,879 | ' | ' |
Goodwill | 22 | 22 | ' | ' |
Debt, Current | 41 | 77 | ' | ' |
Long-term Debt and Capital Lease Obligations | 4,750 | 4,179 | ' | ' |
Debt Fair Value Adjustments | $8 | $8 | ' | ' |