Document_And_Entity_Informatio
Document And Entity Information (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Apr. 24, 2015 | Jun. 30, 2014 | |
Entity [Abstract] | |||
Entity Registrant Name | KINDER MORGAN, INC. | ||
Entity Central Index Key | 1506307 | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $24,279,037,627 | ||
Entity Common Stock, Shares Outstanding | 2,168,154,800 | ||
Document Fiscal Year Focus | 2015 | ||
Document Fiscal Period Focus | Q1 | ||
Document Type | 10-Q | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Mar-15 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenues [Abstract] | ||
Natural gas sales | $785 | $1,097 |
Services | 1,970 | 1,829 |
Product sales and other | 842 | 1,121 |
Total Revenues | 3,597 | 4,047 |
Operating Costs, Expenses and Other | ||
Costs of sales | 1,090 | 1,643 |
Operations and maintenance | 505 | 483 |
Depreciation, depletion and amortization | 538 | 496 |
General and administrative | 216 | 172 |
Taxes, other than income taxes | 115 | 110 |
Impairment of Long-Lived Assets Held-for-use | 51 | 0 |
Other expense (income), net | 4 | -4 |
Total Operating Costs, Expenses and Other | 2,519 | 2,900 |
Operating Income | 1,078 | 1,147 |
Other Income (Expense) | ||
Earnings from equity investments | 102 | 99 |
Loss on impairments of equity investments | -26 | 0 |
Amortization of excess cost of equity investments | -12 | -10 |
Interest, net | -512 | -448 |
Other, net | 13 | 13 |
Total Other Expense | -435 | -346 |
Income Before Income Taxes | 643 | 801 |
Income Tax Expense | -224 | -200 |
Net Income | 419 | 601 |
Net Loss (Income) Attributable to Noncontrolling Interests | 10 | -314 |
Net Income Attributable to Kinder Morgan, Inc. | $429 | $287 |
Class P Shares | ||
Diluted Earnings Per Common Share | $0.20 | $0.28 |
Diluted Weighted-Average Number of Shares Outstanding | 2,151 | 1,029 |
Class P [Member] | ||
Class P Shares | ||
Basic Earnings Per Common Share | $0.20 | $0.28 |
Basic Weighted-Average Number of Shares Outstanding | 2,141 | 1,029 |
Dividends Per Common Share Declared for the Period | $0.48 | $0.42 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Total | ||
Net income | $419 | $601 |
Other comprehensive income (loss), net of tax | ||
Change in fair value of derivatives utilized for hedging purposes (net of tax benefit of $1 and $14, respectively) | -2 | -45 |
Reclassification of change in fair value of derivatives to net income (net of tax benefit (expense) of $41 and $(4), respectively) | -72 | 14 |
Foreign currency translation adjustments (net of tax benefit of $62 and $18, respectively) | -108 | -62 |
Benefit plan adjustments (net of tax (expense) benefit of $(3) and $-, respectively) | 6 | -1 |
Total other comprehensive loss | -176 | -94 |
Comprehensive income | 243 | 507 |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 10 | -258 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $253 | $249 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Total | ||
Change in fair value of derivatives utilized for hedging purposes, tax benefit total | $1 | $14 |
Reclassification of change in fair value of derivatives to net income, tax expense total | 41 | -4 |
Foreign currency translation adjustments, tax expense total | 62 | 18 |
Adjustments to pension and other postretirement benefit plan liabilities, tax benefit total | ($3) | $0 |
CONSOLIDATED_BALANCE_SHEETS_Un
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Current Assets | ||
Cash and cash equivalents | $259 | $315 |
Accounts receivable, net | 1,420 | 1,641 |
Inventories | 453 | 459 |
Fair value of derivative contracts | 561 | 535 |
Deferred income taxes | 56 | 56 |
Other current assets | 540 | 746 |
Total current assets | 3,289 | 3,752 |
Property, plant and equipment, net | 40,289 | 38,564 |
Investments | 6,011 | 6,036 |
Goodwill | 24,907 | 24,654 |
Other intangibles, net | 3,762 | 2,302 |
Deferred income taxes | 5,545 | 5,651 |
Deferred charges and other assets | 2,361 | 2,239 |
Total Assets | 86,164 | 83,198 |
Current Liabilities | ||
Current portion of debt | 3,435 | 2,717 |
Accounts payable | 1,393 | 1,588 |
Accrued interest | 538 | 637 |
Accrued contingencies | 399 | 383 |
Other current liabilities | 1,019 | 1,037 |
Total current liabilities | 6,784 | 6,362 |
Long-term debt | ||
Outstanding | 39,633 | 38,212 |
Preferred interest in general partner of KMP | 100 | 100 |
Debt fair value adjustments | 2,091 | 1,934 |
Total long-term debt | 41,824 | 40,246 |
Other long-term liabilities and deferred credits | 2,197 | 2,164 |
Total long-term liabilities and deferred credits | 44,021 | 42,410 |
Total Liabilities | 50,805 | 48,772 |
Stockholders’ Equity | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none outstanding | 0 | 0 |
Additional paid-in capital | 37,839 | 36,178 |
Accumulated other comprehensive loss | -193 | -17 |
Total Kinder Morgan, Inc.’s stockholders’ equity | 35,029 | 34,076 |
Noncontrolling interests | 330 | 350 |
Total Stockholders’ Equity | 35,359 | 34,426 |
Total Liabilities and Stockholders’ Equity | 86,164 | 83,198 |
Class P [Member] | ||
Stockholders’ Equity | ||
Class P shares, $0.01 par value, 4,000,000,000 shares authorized, 2,165,283,234 and 2,125,147,116 shares, respectively, issued and outstanding | 22 | 21 |
Retained deficit | -2,639 | -2,106 |
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 interest in general partner of KMP | $100 | $100 |
CONSOLIDATED_BALANCE_SHEETS_Un1
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Stockholders' Equity | ||
Preferred Stock, Par or Stated Value Per Share | $0.01 | $0.01 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Class P [Member] | ||
Stockholders' Equity | ||
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common Stock, Shares Authorized | 4,000,000,000 | 4,000,000,000 |
Common Stock, Shares, Issued | 2,165,283,234 | 2,125,147,116 |
Common Stock, Shares, Outstanding | 2,165,283,234 | 2,125,147,116 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows From Operating Activities | ||
Net income | $419 | $601 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation, depletion and amortization | 538 | 496 |
Deferred income taxes | 221 | 111 |
Amortization of excess cost of equity investments | 12 | 10 |
Loss on impairments of long-lived assets and equity investments | 77 | 0 |
Earnings from equity investments | -102 | -99 |
Distributions from equity investment earnings | 92 | 77 |
Pension contributions and noncash pension benefit credits | -12 | -59 |
Changes in components of working capital, net of the effects of acquisitions | ||
Accounts receivable | 216 | 178 |
Increase (Decrease) in Income Taxes Receivable | 195 | 0 |
Inventories | 6 | 10 |
Other current assets | 25 | 19 |
Accounts payable | -241 | -140 |
Accrued interest | -114 | -154 |
Increase (Decrease) in Other Current Liabilities | -12 | 95 |
Rate reparations, refunds and other litigation reserve adjustments | 60 | 0 |
Other, net | -124 | -27 |
Net Cash Provided by Operating Activities | 1,256 | 1,118 |
Cash flows from investing activities | ||
Business acquisitions, net of cash acquired (Note 2) | -1,859 | -960 |
Acquisitions of other assets and investments | 5 | 30 |
Capital expenditures | -897 | -845 |
Contributions to investments | -30 | -36 |
Distributions from equity investments in excess of cumulative earnings | 50 | 38 |
Other, net | -34 | 14 |
Net Cash Used in Investing Activities | -2,775 | -1,819 |
Cash flows from financing activities | ||
Issuance of debt | 7,136 | 5,191 |
Payment of debt | -6,305 | -4,184 |
Debt issue costs | -16 | -12 |
Issuances of shares | 1,626 | 0 |
Cash dividends | -962 | -425 |
Repurchases of shares and warrants | 0 | -149 |
Contributions from noncontrolling interests | 0 | 684 |
Distributions to noncontrolling interests | -10 | -479 |
Other, net | -1 | 0 |
Net Cash Provided by Financing Activities | 1,468 | 626 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | -5 | -10 |
Net decrease in Cash and Cash Equivalents | -56 | -85 |
Cash and Cash Equivalents, beginning of period | 315 | 598 |
Cash and Cash Equivalents, end of period | 259 | 513 |
Non-cash Investing and Financing Activities | ||
Assets acquired by the assumption or incurrence of liabilities | 1,606 | 0 |
Net assets contributed to equity investment | 27 | 0 |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid during the period for interest (net of capitalized interest) | 592 | 566 |
Cash refunded during the period for income taxes, net | ($196) | ($2) |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) Statement (USD $) | Total | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | KMI [Member] | Noncontrolling Interest [Member] | KMP, EPB and KMR [Member] | KMP, EPB and KMR [Member] | KMP, EPB and KMR [Member] | KMP, EPB and KMR [Member] | EP Trust I Preferred [Member] | EP Trust I Preferred [Member] | EP Trust I Preferred [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Class P [Member] | Class P [Member] |
In Millions, except Share data, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Additional Paid-in Capital [Member] | KMI [Member] | Noncontrolling Interest [Member] | USD ($) | Additional Paid-in Capital [Member] | KMI [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | KMI [Member] | EP Trust I Preferred [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||
Noncontrolling interests at Dec. 31, 2013 | $15,192 | |||||||||||||||||
Total Stockholders' Equity at Dec. 31, 2013 | 28,285 | |||||||||||||||||
Stockholders' Equity Attributable to KMI at Dec. 31, 2013 | 14,479 | -1,372 | -24 | 13,093 | 10 | |||||||||||||
Shares, Outstanding at Dec. 31, 2013 | 1,031,000,000 | |||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Stock Repurchased and Retired During Period, Shares | 3,000,000 | |||||||||||||||||
Stock Repurchased During Period, Value | -94 | -94 | -94 | |||||||||||||||
Minority Interest Increase From Contributions From Noncontrolling Interest | 684 | 0 | 684 | |||||||||||||||
Adjustments to Paid In Capital, Warrants Repurchased | -55 | -55 | -55 | |||||||||||||||
Amortization of restricted shares | 14 | 14 | 14 | |||||||||||||||
Impact of subsidiary equity transactions | -8 | 13 | 13 | -21 | ||||||||||||||
Net income attributable to KMI | 287 | 287 | 287 | |||||||||||||||
Net Income Attributable to Noncontrolling Interests | -314 | 314 | ||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 601 | |||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | -479 | 0 | -479 | |||||||||||||||
Dividends, Common Stock, Cash | -425 | -425 | -425 | |||||||||||||||
Stockholders' Equity, Other | 5 | 5 | 5 | |||||||||||||||
Other comprehensive income (loss), net of tax, portion attributable to KMI | -38 | -38 | ||||||||||||||||
Other comprehensive income (loss), net of tax, portion attributable to noncontrolling interests | -56 | |||||||||||||||||
Total other comprehensive loss | -94 | |||||||||||||||||
Total Stockholders' Equity at Mar. 31, 2014 | 28,434 | |||||||||||||||||
Noncontrolling interests at Mar. 31, 2014 | 15,634 | |||||||||||||||||
Stockholders' Equity Attributable to KMI at Mar. 31, 2014 | 14,362 | -1,510 | -62 | 12,800 | 10 | |||||||||||||
Shares, Outstanding at Mar. 31, 2014 | 1,028,000,000 | |||||||||||||||||
Noncontrolling interests at Dec. 31, 2014 | 350 | 350 | ||||||||||||||||
Total Stockholders' Equity at Dec. 31, 2014 | 34,426 | |||||||||||||||||
Stockholders' Equity Attributable to KMI at Dec. 31, 2014 | 34,076 | 36,178 | -2,106 | -17 | 34,076 | 21 | ||||||||||||
Shares, Outstanding at Dec. 31, 2014 | 2,125,000,000 | |||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 39,000,000 | |||||||||||||||||
Stock Issued During Period, Value, New Issues | 1,626 | 1 | 1,625 | 1,626 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 1,000,000 | |||||||||||||||||
Conversions of EP Trust I Preferred securities | 19 | 19 | 19 | |||||||||||||||
Adjustments to Paid in Capital, Warrants Exercised | 1 | 1 | 1 | |||||||||||||||
Amortization of restricted shares | 16 | 16 | 16 | |||||||||||||||
Net income attributable to KMI | 429 | 429 | 429 | |||||||||||||||
Net Income Attributable to Noncontrolling Interests | 10 | -10 | ||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 419 | |||||||||||||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | -10 | 0 | -10 | |||||||||||||||
Dividends, Common Stock, Cash | -962 | -962 | -962 | |||||||||||||||
Other comprehensive income (loss), net of tax, portion attributable to KMI | -176 | -176 | ||||||||||||||||
Total other comprehensive loss | -176 | |||||||||||||||||
Total Stockholders' Equity at Mar. 31, 2015 | 35,359 | |||||||||||||||||
Noncontrolling interests at Mar. 31, 2015 | 330 | 330 | ||||||||||||||||
Stockholders' Equity Attributable to KMI at Mar. 31, 2015 | $35,029 | $37,839 | ($2,639) | ($193) | $35,029 | $22 | ||||||||||||
Shares, Outstanding at Mar. 31, 2015 | 2,165,000,000 |
General_Notes
General (Notes) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
General | General | |||||||
Organization | ||||||||
We are the largest energy infrastructure and the third largest energy company in North America with an enterprise value of more than $130 billion. We own an interest in or operate approximately 84,000 miles of pipelines and 180 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals 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, which is utilized for enhanced oil recovery projects in North America. | ||||||||
On November 26, 2014, we completed our acquisition, pursuant to three separate merger agreements, of all of the outstanding common units of Kinder Morgan Energy Partners, L.P. and El Paso Pipeline Partners, L.P. and all of the outstanding shares of Kinder Morgan Management, LLC that we did not already own. The transactions, valued at approximately $77 billion, are referred to collectively as the “Merger Transactions.” On January 1, 2015, EPB and its subsidiary, EPPOC merged with and into KMP. References to EPB refer to EPB for periods prior to its merger into KMP. | ||||||||
Prior to November 26, 2014, we owned an approximate 10% limited partner interest (including our interest in KMR) and the 2% general partner interest including incentive distribution rights in KMP, and an approximate 39% limited partner interest and the 2% general partner interest and incentive distribution rights in EPB. Effective with the Merger Transactions, the incentive distribution rights held by the general partner of KMP were eliminated. | ||||||||
The earnings recorded by KMP, EPB and KMR that are attributed to their units and shares, respectively, held by the public prior to November 26, 2014 are reported as “Net loss (income) attributable to noncontrolling interests” in our accompanying consolidated statements of income. | ||||||||
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 (SEC). 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, certain amounts from prior years have been reclassified to conform to the current presentation. | ||||||||
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 2014 Form 10-K. | ||||||||
Impairments | ||||||||
Due to the continued low commodity price environment and certain actions of our customers during the first quarter of 2015, we recorded a non-cash pre-tax impairment charge of $77 million related to certain of our gas gathering and processing assets in our Natural Gas Pipelines segment. The impairment comprised $51 million of long-lived assets and $26 million related to our investments in Fort Union Gas Gathering L.L.C. and Bighorn Gas Gathering L.L.C. | ||||||||
As conditions warrant, management routinely evaluates its assets for potential triggering events that could impact the fair value of certain assets or our ability to recover the carrying value of long-lived assets. Such assets include accounts receivable, property plant and equipment, including oil and gas properties and in-process construction, equity investments, goodwill and other intangibles. Depending on the nature of the asset, these evaluations require the use of significant judgments including but not limited to customer credit worthiness, future cash flow estimates, future volume expectations, current and future commodity prices, as well as general economic conditions and the related demand for products handled or transported by our assets. In the current commodity price environment and to the extent conditions further deteriorate, we may identify additional triggering events that may necessitate further impairments to the carrying value of our assets. Such non-cash impairments could have a significant effect on our results of operations. | ||||||||
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 tables set forth the allocation of net income available to shareholders for Class P shares and for participating securities and the reconciliation of Basic Weighted-Average Number of Shares Outstanding to Diluted Weighted-Average Number of Shares Outstanding (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Class P | $ | 426 | $ | 284 | ||||
Participating securities(a) | 3 | 3 | ||||||
Net Income Attributable to Kinder Morgan, Inc. | $ | 429 | $ | 287 | ||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Basic Weighted-Average Number of Shares Outstanding | 2,141 | 1,029 | ||||||
Effect of dilutive securities: | ||||||||
Warrants(b) | 10 | — | ||||||
Diluted Weighted-Average Number of Shares Outstanding | 2,151 | 1,029 | ||||||
________ | ||||||||
(a) | Participating securities are unvested restricted stock awards issued to management employees that contain non-forfeitable rights to dividend equivalent payments. | |||||||
(b) | 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. | |||||||
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 March 31, | ||||||||
2015 | 2014 | |||||||
Unvested restricted stock awards | 7 | 7 | ||||||
Warrants to purchase our Class P shares | 289 | 341 | ||||||
Convertible trust preferred securities | 9 | 10 | ||||||
_______ |
Acquisitions_Notes
Acquisitions (Notes) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Acquisitions and Divestitures [Abstract] | ||||||||
Acquisitions | Acquisitions | |||||||
Hiland Partners, LP | ||||||||
On February 13, 2015, we acquired Hiland Partners, LP, a privately held Delaware limited partnership (Hiland) for an aggregate consideration of $3,120 million, including assumed debt and other assumed liabilities. Approximately $368 million of the debt assumed was immediately paid down after closing. Hiland’s assets consist primarily of crude oil gathering and transportation pipelines and gas gathering and processing systems, primarily serving production from the Bakken Formation in North Dakota and Montana. The acquired gathering and processing assets are included in our Natural Gas Pipelines business segment while the acquired crude transport pipeline is included in our Products Pipelines business segment. | ||||||||
Vopak Terminal Assets | ||||||||
On February 27, 2015, we acquired three U.S. terminals and one undeveloped site from Royal Vopak (Vopak) for approximately $158 million. The acquisition covers (i) a 36-acre, 1,069,500-barrel storage facility at Galena Park, Texas that handles base oils, biodiesel and crude oil and is immediately adjacent to our Galena Park terminal facility; (ii) two terminals in North Carolina: one in North Wilmington that handles chemicals and black oil and the other in South Wilmington that is not currently operating; and (iii) an undeveloped site in Perth Amboy, New Jersey, with waterfront access that can be developed. We include the acquired assets as part of the Terminals business segment. | ||||||||
Our preliminary allocation of the purchase price for each of our significant acquisitions during the three months ended March 31, 2015 (in millions) is detailed below. The evaluation of the assigned fair values is ongoing and subject to adjustment. | ||||||||
Acquisitions | ||||||||
Hiland | Vopak Terminal Assets | |||||||
Purchase Price Allocation: | ||||||||
Current assets | $ | 44 | $ | 3 | ||||
Property, plant and equipment | 1,521 | 131 | ||||||
Goodwill | 238 | 29 | ||||||
Other intangibles(a) | 1,507 | — | ||||||
Total assets acquired | 3,310 | 163 | ||||||
Current liabilities | (187 | ) | (2 | ) | ||||
Debt | (1,411 | ) | — | |||||
Other liabilities | (3 | ) | (3 | ) | ||||
Cash consideration | $ | 1,709 | $ | 158 | ||||
_______ | ||||||||
(a) | Relates to customer contracts and relationships with a weighted average amortization period of 16.4 years. | |||||||
After measuring all of the identifiable tangible and intangible assets acquired and liabilities assumed at fair value on the acquisition date, goodwill is an intangible asset representing the future economic benefits expected to be derived from an acquisition that are not assigned to other identifiable, separately recognizable assets. We believe the primary items that generated our goodwill are both the value of the synergies created between the acquired assets and our pre-existing assets, and our expected ability to grow the business we acquired by leveraging our pre-existing business experience. We expect our recorded goodwill associated with the above acquisitions to be deductible for tax purposes. |
Debt_Debt_Disclosure_Notes
Debt Debt Disclosure (Notes) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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. The following table provides detail on the principal amount of our outstanding debt balances. The table amounts exclude all debt fair value adjustments, including debt discounts and premiums (in millions): | |||||||||
March 31, 2015 | 31-Dec-14 | ||||||||
KMI and Subsidiaries | |||||||||
Senior notes, 1.50% through 8.25%, due 2015 through 2098(a) | $ | 13,330 | $ | 11,438 | |||||
Credit facility due November 26, 2019(b) | 600 | 850 | |||||||
Commercial paper borrowings(b) | 296 | 386 | |||||||
KMP | |||||||||
Senior notes, 2.65% through 9.00%, due 2015 through 2044(c) | 20,360 | 20,660 | |||||||
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 | |||||||
CIG senior notes, 5.95% through 6.85%, due 2015 through 2037 | 440 | 475 | |||||||
SNG notes, 4.40% through 8.00%, due 2017 through 2032 | 1,211 | 1,211 | |||||||
Other Subsidiary Borrowings (as obligor) | |||||||||
Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036 | 1,636 | 1,636 | |||||||
Hiland Partners Holdings LLC, senior notes, 5.50% and 7.25%, due 2020 and 2022(d) | 975 | — | |||||||
EPC Building, LLC, promissory note, 3.967%, due 2015 through 2035 | 450 | 453 | |||||||
Preferred securities, 4.75%, due March 31, 2028 | 232 | 280 | |||||||
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | 100 | 100 | |||||||
Other miscellaneous debt | 301 | 303 | |||||||
Total debt – KMI and Subsidiaries | 43,168 | 41,029 | |||||||
Less: Current portion of debt(e) | 3,435 | 2,717 | |||||||
Total long-term debt – KMI and Subsidiaries(f) | $ | 39,733 | $ | 38,312 | |||||
_______ | |||||||||
(a) | March 31, 2015 amount includes senior notes that are denominated in Euros and have been converted and are reported at the March 31, 2015 exchange rate of 1.0731 U.S. dollars per Euro. We also entered into cross-currency swap agreements associated with these senior notes (see Note 5). | ||||||||
(b) | As of March 31, 2015 and December 31, 2014, the weighted average interest rates on our credit facility borrowings, including commercial paper borrowings, were 1.56% and 1.54%, respectively. | ||||||||
(c) | On January 1, 2015, EPB and EPPOC merged with and into KMP. On that date, KMP succeeded EPPOC as the issuer of approximately $2.9 billion of EPPOC’s senior notes, which were guaranteed by EPB, and EPB and EPPOC ceased to be obligors for those senior notes. | ||||||||
(d) | Represents the principal amount of senior notes assumed in the Hiland acquisition. | ||||||||
(e) | Amounts include outstanding credit facility and commercial paper borrowings. | ||||||||
(f) | As of March 31, 2015 and December 31, 2014, our “Debt fair value adjustments” increased our combined debt balances by $2,091 million and $1,934 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. | ||||||||
Credit Facilities | |||||||||
As of March 31, 2015, we had $600 million outstanding under our five-year $4.0 billion revolving credit facility, $296 million outstanding under our $4.0 billion commercial paper program and $128 million in letters of credit. Our availability under this facility as of March 31, 2015 was $2,976 million. Borrowings under our revolving credit facility can be used for working capital and other general corporate purposes and as a backup to our commercial paper program. Similarly, borrowings under our commercial paper program reduce the borrowings allowed under our credit facility. | |||||||||
On February 13, 2015, in connection with the Hiland acquisition, we entered into and made borrowings of $1,641 million under a new six-month bridge credit facility with UBS AG, Stamford Branch. Interest under this bridge credit facility was charged at the same rate as our $4.0 billion revolving credit facility. Prior to March 31, 2015, we repaid outstanding borrowings and the facility was terminated on April 6, 2015. | |||||||||
Hiland Debt Acquired | |||||||||
As of the February 13, 2015 Hiland acquisition date, we assumed (i) $975 million in principal amount of senior notes (which were valued at $1,043 million as of the acquisition date) and (ii) $368 million of other borrowings that were immediately repaid after closing, primarily consisting of borrowings outstanding under a revolving credit facility. The senior notes are subject to our cross guarantee agreement discussed in Note 12. | |||||||||
Long-term Debt Issuances and Repayments | |||||||||
Apart from the assumption of the Hiland debt discussed above, following are significant long-term debt issuances and repayments made during the three months ended March 31, 2015: | |||||||||
Issuances | $800 million 5.05% notes due 2046 | ||||||||
$815 million 1.50% notes due 2022(a) | |||||||||
$543 million 2.25% notes due 2027(a) | |||||||||
Repayments | $300 million 5.625% notes due 2015 | ||||||||
$250 million 5.15% notes due 2015 | |||||||||
_______ | |||||||||
(a) | Senior notes are denominated in Euros and are presented above in U.S. dollars at the exchange rate on the issuance date of 1.086 U.S. dollars per Euro. We also entered into cross-currency swap agreements associated with these senior notes (see Note 5). |
Stockholders_Equity_Notes
Stockholders' Equity (Notes) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Stockholders' Equity Note [Abstract] | ||||||||
Stockholders' Equity Note Disclosure [Text Block] | Stockholders’ Equity | |||||||
Common Equity | ||||||||
As of March 31, 2015, our common equity consisted of our Class P common stock. For additional information regarding our Class P common stock, see Note 10 to our consolidated financial statements included in our 2014 Form 10-K. | ||||||||
On December 19, 2014, we entered into an equity distribution agreement authorizing us to issue and sell through or to the managers party thereto, as sales agents and/or principals, shares of our Class P common stock having an aggregate offering price of up to $5,000 million from time to time during the term of this agreement. During the three months ended March 31, 2015, we issued and sold 39,398,245 shares of our Class P common stock pursuant to the equity distribution agreement, and issued an additional 2,692,672 shares after March 31, 2015 to settle sales made on or before March 31, 2015, resulting in net proceeds of $1,738 million. | ||||||||
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 March 31, | ||||||||
2015 | 2014 | |||||||
Per common share cash dividend declared for the period | $ | 0.48 | $ | 0.42 | ||||
Per common share cash dividend paid in the period | $ | 0.45 | $ | 0.41 | ||||
_______ | ||||||||
On April 15, 2015, our board of directors declared a cash dividend of $0.48 per share for the quarterly period ended March 31, 2015, which is payable on May 15, 2015 to shareholders of record as of April 30, 2015. |
Risk_Management_Notes
Risk Management (Notes) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
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 and foreign currency 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. In addition, we have legacy power forward and swap contracts for which we entered into offsetting positions that eliminate the price risks associated with these power contracts. | |||||||||||||||||||||||||||||
As of December 31, 2014, we had discontinued hedge accounting on certain of our crude derivative contracts as we did not expect them to be highly effective, for accounting purposes, in offsetting the variability in cash flows. This was caused primarily by volatility in basis differentials. As the forecasted transactions are still probable, accumulated gains and losses remain in other comprehensive income until earnings are impacted by the forecasted transactions. Future changes in the derivative contracts’ fair value subsequent to the discontinuance of hedge accounting will be reported in earnings. We may re-designate certain of these hedging relationships if their expected effectiveness improves. | |||||||||||||||||||||||||||||
Energy Commodity Price Risk Management | |||||||||||||||||||||||||||||
As of March 31, 2015, we had entered into the following outstanding commodity forward contracts to hedge our forecasted energy commodity purchases and sales: | |||||||||||||||||||||||||||||
Net open position long/(short) | |||||||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (12.8 | ) | MMBbl | ||||||||||||||||||||||||||
Crude oil basis | (12.1 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (50.7 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | (25.9 | ) | Bcf | ||||||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (14.2 | ) | MMBbl | ||||||||||||||||||||||||||
Crude oil basis | (0.3 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (17.9 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | (16.5 | ) | Bcf | ||||||||||||||||||||||||||
NGL fixed price | (52.7 | ) | MMBbl | ||||||||||||||||||||||||||
_______ | |||||||||||||||||||||||||||||
As of March 31, 2015, the maximum length of time over which we have hedged, for accounting purposes, our exposure to the variability in future cash flows associated with energy commodity price risk is through December 2017. We have additional economic hedge contracts not designated as accounting hedges through December 2019. | |||||||||||||||||||||||||||||
Interest Rate Risk Management | |||||||||||||||||||||||||||||
As of March 31, 2015 and December 31, 2014, we had a combined notional principal amount of $9,700 million and $9,200 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 London Interbank Offered Rate (LIBOR) plus a spread. All of our swap agreements have termination dates that correspond to the maturity dates of the related series of senior notes and, as of March 31, 2015, 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. | |||||||||||||||||||||||||||||
In March 2015, we entered into four separate fixed-to-variable interest rate swap agreements having a combined notional principal amount of $600 million. These agreements effectively convert a portion of the interest expense associated with our 5.625% senior notes due November 15, 2023, from a fixed rate to a variable rate based on an interest rate of LIBOR plus a spread. | |||||||||||||||||||||||||||||
Foreign Currency Risk Management | |||||||||||||||||||||||||||||
In connection with the issuance of our Euro denominated senior notes in March 2015 (see Note 3), we entered into cross-currency swap agreements to manage the related foreign currency risk by effectively converting all of the fixed-rate Euro denominated debt, including annual interest payments and the payment of principal at maturity, to U.S. dollar denominated debt at fixed rates equivalent to approximately 3.79% and 4.67% for the 7-year and 12-year senior notes, respectively. These cross-currency swaps are accounted for as cash flow hedges. The terms of the cross-currency swap agreements correspond to the related hedged senior notes, and such agreements have the same maturities as the hedged senior notes. | |||||||||||||||||||||||||||||
Fair Value of Derivative Contracts | |||||||||||||||||||||||||||||
The following table summarizes the fair values of our derivative contracts included in our accompanying consolidated balance sheets (in millions): | |||||||||||||||||||||||||||||
Fair Value of Derivative Contracts | |||||||||||||||||||||||||||||
Asset derivatives | Liability derivatives | ||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | December 31, | ||||||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||||||
Balance sheet location | Fair value | Fair value | |||||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas and crude derivative contracts | Fair value of derivative contracts/(Other current liabilities) | $ | 318 | $ | 309 | $ | (63 | ) | $ | (34 | ) | ||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 44 | 6 | (2 | ) | — | ||||||||||||||||||||||||
Subtotal | 362 | 315 | (65 | ) | (34 | ) | |||||||||||||||||||||||
Interest rate swap agreements | Fair value of derivative contracts/(Other current liabilities) | 171 | 143 | — | — | ||||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 329 | 260 | (5 | ) | (53 | ) | |||||||||||||||||||||||
Subtotal | 500 | 403 | (5 | ) | (53 | ) | |||||||||||||||||||||||
Cross-currency swap agreements | Fair value of derivative contracts/(Other current liabilities) | — | — | (31 | ) | — | |||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | — | — | (23 | ) | — | ||||||||||||||||||||||||
Subtotal | — | — | (54 | ) | — | ||||||||||||||||||||||||
Total | 862 | 718 | (124 | ) | (87 | ) | |||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas, crude and NGL derivative contracts | Fair value of derivative contracts/(Other current liabilities) | 62 | 73 | (1 | ) | (2 | ) | ||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 174 | 196 | (1 | ) | — | ||||||||||||||||||||||||
Subtotal | 236 | 269 | (2 | ) | (2 | ) | |||||||||||||||||||||||
Power derivative contracts | Fair value of derivative contracts/(Other current liabilities) | 10 | 10 | (56 | ) | (57 | ) | ||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 1 | — | (4 | ) | (16 | ) | |||||||||||||||||||||||
Subtotal | 11 | 10 | (60 | ) | (73 | ) | |||||||||||||||||||||||
Total | 247 | 279 | (62 | ) | (75 | ) | |||||||||||||||||||||||
Total derivatives | $ | 1,109 | $ | 997 | $ | (186 | ) | $ | (162 | ) | |||||||||||||||||||
_______ | |||||||||||||||||||||||||||||
Effect of Derivative Contracts on the Income Statement | |||||||||||||||||||||||||||||
The following tables summarize the impact of our derivative contracts on our accompanying consolidated statements of income (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 | |||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Interest rate swap agreements | Interest expense | $ | 145 | $ | 55 | ||||||||||||||||||||||||
Hedged fixed rate debt | Interest expense | $ | (139 | ) | $ | (55 | ) | ||||||||||||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain/(loss) | Location of gain/(loss) reclassified from Accumulated OCI into income (effective portion) | Amount of gain/(loss) reclassified from Accumulated OCI | Location of gain/(loss) recognized in income on | Amount of gain/(loss) | ||||||||||||||||||||||||
recognized in OCI | 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 March 31, | Three Months Ended March 31, | Three Months Ended March 31, | |||||||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||||
Energy commodity | $ | 35 | $ | (43 | ) | Revenues—Natural | $ | 24 | $ | (9 | ) | Revenues—Natural | $ | — | $ | — | |||||||||||||
derivative contracts | gas sales | gas sales | |||||||||||||||||||||||||||
Revenues—Product | 64 | (6 | ) | Revenues—Product | 7 | (5 | ) | ||||||||||||||||||||||
sales and other | sales and other | ||||||||||||||||||||||||||||
Costs of sales | (5 | ) | 1 | Costs of sales | — | — | |||||||||||||||||||||||
Interest rate swap | (3 | ) | (2 | ) | Interest expense | (1 | ) | — | Interest expense | — | — | ||||||||||||||||||
agreements | |||||||||||||||||||||||||||||
Cross-currency swap | (34 | ) | — | Other, net | (10 | ) | — | ||||||||||||||||||||||
Total | $ | (2 | ) | $ | (45 | ) | Total | $ | 72 | $ | (14 | ) | Total | $ | 7 | $ | (5 | ) | |||||||||||
_______ | |||||||||||||||||||||||||||||
(a) | We expect to reclassify an approximate $175 million gain associated with cash flow hedge price risk management activities included in our accumulated other comprehensive loss balances as of March 31, 2015 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 March 31, | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts | Revenues—Natural gas sales | $ | 4 | $ | (7 | ) | |||||||||||||||||||||||
Revenues—Product sales and other | 45 | (1 | ) | ||||||||||||||||||||||||||
Costs of sales | (3 | ) | 10 | ||||||||||||||||||||||||||
Other expense (income) | — | (2 | ) | ||||||||||||||||||||||||||
Total(a) | $ | 46 | $ | — | |||||||||||||||||||||||||
_______ | |||||||||||||||||||||||||||||
(a) As of March 31, 2015, includes an approximate $5 million loss associated with natural gas, crude and NGL derivative contract settlements. | |||||||||||||||||||||||||||||
Credit Risks | |||||||||||||||||||||||||||||
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 March 31, 2015 and December 31, 2014, we had $20 million of outstanding letters of credit supporting our commodity price risk management program in addition to $44 million and $47 million, respectively, of cash margin on deposit posted as collateral. | |||||||||||||||||||||||||||||
We also have agreements with certain counterparties to our derivative contracts that contain provisions requiring the posting of additional collateral upon a decrease in our credit rating. As of March 31, 2015, we estimate that if our credit rating was downgraded one notch, we would be required to post $1 million of additional collateral to our counterparties. If we were downgraded two notches, we would be required to post no additional collateral from the one notch downgrade. | |||||||||||||||||||||||||||||
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” not including non-controlling interests are summarized as follows (in millions): | |||||||||||||||||||||||||||||
Net unrealized | Foreign | Pension and | Total | ||||||||||||||||||||||||||
gains/(losses) | currency | other | accumulated other | ||||||||||||||||||||||||||
on cash flow | translation | postretirement | comprehensive income/(loss) | ||||||||||||||||||||||||||
hedge derivatives | adjustments | liability adjustments | |||||||||||||||||||||||||||
Balance as of December 31, 2014 | $ | 327 | $ | (108 | ) | $ | (236 | ) | $ | (17 | ) | ||||||||||||||||||
Other comprehensive loss before reclassifications | (2 | ) | (108 | ) | 6 | (104 | ) | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (72 | ) | — | — | (72 | ) | |||||||||||||||||||||||
Net current-period other comprehensive loss | (74 | ) | (108 | ) | 6 | (176 | ) | ||||||||||||||||||||||
Balance as of March 31, 2015 | $ | 253 | $ | (216 | ) | $ | (230 | ) | $ | (193 | ) | ||||||||||||||||||
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 | (19 | ) | (25 | ) | — | (44 | ) | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | 6 | — | — | 6 | |||||||||||||||||||||||||
Net current-period other comprehensive loss | (13 | ) | (25 | ) | — | (38 | ) | ||||||||||||||||||||||
Balance as of March 31, 2014 | $ | (16 | ) | $ | (23 | ) | $ | (23 | ) | $ | (62 | ) |
Fair_Value_Notes
Fair Value (Notes) | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
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; (ii) interest rate swap agreements; and (iii) cross-currency swap agreements, based on the three levels established by the Codification (in millions). The tables also identify the impact of derivative contracts which we have elected to present on our accompanying consolidated balance sheets on a gross basis that are eligible for netting under master netting agreements. | ||||||||||||||||||||||||||||
Balance sheet asset | Net amount | |||||||||||||||||||||||||||
fair value measurements by level | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Contracts available for netting | Cash collateral held(b) | |||||||||||||||||||||||
As of March 31, 2015 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 39 | $ | 559 | $ | 11 | $ | 609 | $ | (70 | ) | $ | — | $ | 539 | |||||||||||||
Interest rate swap agreements | $ | — | $ | 500 | $ | — | $ | 500 | $ | (3 | ) | $ | — | $ | 497 | |||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 49 | $ | 533 | $ | 12 | $ | 594 | $ | (46 | ) | $ | (13 | ) | $ | 535 | ||||||||||||
Interest rate swap agreements | $ | — | $ | 403 | $ | — | $ | 403 | $ | (44 | ) | $ | — | $ | 359 | |||||||||||||
Balance sheet liability | Net amount | |||||||||||||||||||||||||||
fair value measurements by level | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Contracts available for netting | Collateral posted(c) | |||||||||||||||||||||||
As of March 31, 2015 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (26 | ) | $ | (41 | ) | $ | (60 | ) | $ | (127 | ) | $ | 70 | $ | 44 | $ | (13 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (5 | ) | $ | — | $ | (5 | ) | $ | 3 | $ | — | $ | (2 | ) | |||||||||||
Cross-currency swap agreements | $ | — | $ | (54 | ) | $ | — | $ | (54 | ) | $ | — | $ | — | $ | (54 | ) | |||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (25 | ) | $ | (11 | ) | $ | (73 | ) | $ | (109 | ) | $ | 46 | $ | 47 | $ | (16 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (53 | ) | $ | — | $ | (53 | ) | $ | 44 | $ | — | $ | (9 | ) | |||||||||||
_______ | ||||||||||||||||||||||||||||
(a) | Level 1 consists primarily of New York Mercantile Exchange (NYMEX) natural gas futures. Level 2 consists primarily of OTC West Texas Intermediate (WTI) swaps and options. Level 3 consists primarily of power derivative contracts. | |||||||||||||||||||||||||||
(b) | Cash margin deposits held by us associated with our 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 us associated with our 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 (in millions): | ||||||||||||||||||||||||||||
Significant unobservable inputs (Level 3) | ||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Derivatives-net asset (liability) | ||||||||||||||||||||||||||||
Beginning of Period | $ | (61 | ) | $ | (110 | ) | ||||||||||||||||||||||
Total gains or (losses) | ||||||||||||||||||||||||||||
Included in earnings | — | 7 | ||||||||||||||||||||||||||
Included in other comprehensive loss | — | (1 | ) | |||||||||||||||||||||||||
Settlements | 12 | 4 | ||||||||||||||||||||||||||
End of Period | $ | (49 | ) | $ | (100 | ) | ||||||||||||||||||||||
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 | $ | 1 | $ | 3 | ||||||||||||||||||||||||
_______ | ||||||||||||||||||||||||||||
As of March 31, 2015, our Level 3 derivative assets and liabilities consisted primarily of 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 in management’s best estimate of fair value. | ||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||||||||||
The estimated fair value of our outstanding debt balances (the carrying amounts below include both short-term and long-term and debt fair value adjustments), is disclosed below (in millions): | ||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||
value | fair value | value | fair value | |||||||||||||||||||||||||
Total debt | $ | 45,259 | $ | 46,480 | $ | 42,963 | $ | 43,582 | ||||||||||||||||||||
_______ | ||||||||||||||||||||||||||||
We used Level 2 input values to measure the estimated fair value of our outstanding debt balances as of both March 31, 2015 and December 31, 2014. |
Reportable_Segments_Notes
Reportable Segments (Notes) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Segment Reporting [Abstract] | ||||||||
Reportable Segments | Reportable Segments | |||||||
Financial information by segment follows (in millions): | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Revenues | ||||||||
Natural Gas Pipelines | ||||||||
Revenues from external customers | $ | 2,177 | $ | 2,557 | ||||
Intersegment revenues | 3 | 4 | ||||||
CO2 | 446 | 483 | ||||||
Terminals | 457 | 391 | ||||||
Products Pipelines | 444 | 534 | ||||||
Kinder Morgan Canada | 60 | 69 | ||||||
Other | 4 | 4 | ||||||
Total segment revenues | 3,591 | 4,042 | ||||||
Other revenues | 9 | 9 | ||||||
Less: Total intersegment revenues | (3 | ) | (4 | ) | ||||
Total consolidated revenues | $ | 3,597 | $ | 4,047 | ||||
Three Months Ended March 30, | ||||||||
2015 | 2014 | |||||||
Segment Earnings Before DD&A(a) | ||||||||
Natural Gas Pipelines | $ | 1,015 | $ | 1,070 | ||||
CO2 | 336 | 363 | ||||||
Terminals | 270 | 210 | ||||||
Products Pipelines | 246 | 208 | ||||||
Kinder Morgan Canada | 41 | 48 | ||||||
Other | (6 | ) | 7 | |||||
Total segment earnings before DD&A | 1,902 | 1,906 | ||||||
DD&A expense | (538 | ) | (496 | ) | ||||
Amortization of excess cost of investments | (12 | ) | (10 | ) | ||||
Other revenues | 9 | 9 | ||||||
General and administrative expense | (216 | ) | (172 | ) | ||||
Interest expense, net of unallocable interest income | (514 | ) | (450 | ) | ||||
Unallocable income tax expense | (212 | ) | (186 | ) | ||||
Total consolidated net income | $ | 419 | $ | 601 | ||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Assets | ||||||||
Natural Gas Pipelines | $ | 54,539 | $ | 52,523 | ||||
CO2 | 5,318 | 5,227 | ||||||
Terminals | 9,071 | 8,850 | ||||||
Products Pipelines | 8,364 | 7,179 | ||||||
Kinder Morgan Canada | 1,480 | 1,593 | ||||||
Other | 443 | 459 | ||||||
Total segment assets | 79,215 | 75,831 | ||||||
Corporate assets(b) | 6,920 | 7,311 | ||||||
Assets held for sale | 29 | 56 | ||||||
Total consolidated assets | $ | 86,164 | $ | 83,198 | ||||
_______ | ||||||||
(a) | We evaluate performance based on each segment’s earnings before DD&A. Amounts include revenues, earnings from equity investments, allocable interest income, and other, net, less operating expenses, allocable income taxes, and other expense (income), net, and losses on impairments of long-lived assets and equity investments. Operating expenses include natural gas purchases and other costs of sales, operations and maintenance expenses, and taxes, other than income taxes. | |||||||
(b) | 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) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
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 | |||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Service cost | $ | 6 | $ | 7 | $ | — | $ | — | ||||||||
Interest cost | 24 | 27 | 6 | 7 | ||||||||||||
Expected return on assets | (43 | ) | (43 | ) | (6 | ) | (6 | ) | ||||||||
Amortization of prior service credits | — | — | (1 | ) | (1 | ) | ||||||||||
Amortization of net actuarial loss | 1 | — | — | — | ||||||||||||
Net benefit plan credit | $ | (12 | ) | $ | (9 | ) | $ | (1 | ) | $ | — | |||||
Income_Taxes_Notes
Income Taxes (Notes) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Income Taxes | Income Taxes | |||||||
Income tax expense included in our accompanying consolidated statements of income were as follows (in millions, except percentages): | ||||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Income tax expense | $ | 224 | $ | 200 | ||||
Effective tax rate | 34.8 | % | 25 | % | ||||
Income tax expense for the three months ended March 31, 2015 is approximately $224 million resulting in an effective tax rate of 34.8%, as compared with $200 million income tax expense and an effective tax rate of 25.0%, for the same period of 2014. The effective tax rate for the three months ended March 31, 2015 is slightly lower than the statutory federal rate of 35% primarily due to (i) dividend-received deductions from our 50% interest in Florida Gas Transmission Company, L.L.C. (Florida Gas) (through our investment in Citrus Corporation) and Plantation Pipe Line Company and (ii) a change in our effective tax rate as a result of the Hiland acquisition, partially offset by state income taxes. | ||||||||
The effective tax rate for the three months ended March 31, 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 provisions; and (ii) dividend-received deductions from our 50% investment in Florida Gas (through our investment in Citrus Corporation). These decreases are partially offset by (i) state income taxes; (ii) a decrease in our share of non-tax deductible goodwill associated with our investments in KMP; (iii) adjustments to our income tax reserve for uncertain tax positions; and (iv) the amortization of the deferred charge recorded as a result of the August 2012 and March 2013 drop-down transactions to KMP. |
Litigation_Environmental_and_O
Litigation, Environmental and Other Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
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 | |
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 additional 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 we may include in our 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 $110 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 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 (ALJ) to conduct an additional hearing concerning one of the issues in Opinion 528. On September 17, 2014, the ALJ issued an initial decision finding certain shippers qualify for lower rates under a prior settlement. EPNG has sought FERC review of the ALJ decision and believes it has an appropriate reserve related to the findings in Opinion 528. | |
California Public Utilities Commission Proceedings | |
We have 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. | |
On October 3, 2014, SFPP and its shippers executed a global settlement resolving all pending CPUC proceedings and submitted the proposed settlement to the CPUC for its consideration and approval. The settlement included refunds in the amount of $319 million which was consistent with our established reserve amounts. It also included a three year moratorium on new rate filings or complaints and established current rates consistent with the revenues recognized by SFPP in 2014. On December 18, 2014, the CPUC issued its Decision No. 14-12-057 approving and adopting the global settlement, thereby resolving and closing all previously pending SFPP rate proceedings. On December 29, 2014, SFPP certified to the CPUC that it made all required settlement payments. On March 16, 2015, the CPUC issued its decision eliminating its previously imposed CPUC requirement that SFPP maintain a letter of credit in the amount of $100 million to secure SFPP’s payment obligation for refunds related to the now-resolved CPUC rate proceedings. | |
Other Commercial Matters | |
Union Pacific Railroad Company Easements & Related Litigation | |
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. | |
On November 5, 2014, the Court of Appeals issued an opinion which reversed the judgment, including the award of prejudgment interest, and remanded the matter to the trial court for a determination of UPRR’s property interest in its right-of-way, including whether UPRR has sufficient interest to grant SFPP’s easements. UPRR filed a petition for rehearing with the Court of Appeals, which was denied on December 5, 2014. UPRR filed a petition for review to the California Supreme Court, which was denied on January 21, 2015. | |
By notice dated October 25, 2013, UPRR demanded the payment of $22.3 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. | |
On April 23, 2015, a purported class action suit was filed in the U.S. District Court for the Northern District of California (Case No. 01842) by private landowners in California who claim to be the lawful owners of subsurface real property allegedly used or occupied by UPRR or SFPP. The suit, which is brought purportedly as a class action on behalf of all landowners who own land in fee adjacent to and underlying the railroad easement under which the SFPP pipeline is located within the State of California, asserts claims against UPRR, SFPP, KMGP, and Kinder Morgan Operating L.P. “D” for declaratory judgment, trespass, ejectment, quiet title, unjust enrichment, accounting, and alleged unlawful business acts and practices under California law arising from defendants’ alleged improper use or occupation of subsurface real property. | |
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 June 13, 2014, the trial court issued a statement of decision addressing all of the causes of action and defenses and resolved those matters against SFPP, consistent with the jury’s verdict. The judgment was signed on July 15, 2014. SFPP filed a notice of appeal on October 30, 2014. If the judgment is affirmed on appeal, SFPP will be required to pay a judgment of $42.5 million plus any accrued post judgment interest. | |
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 cost (i.e., for railroad purposes, with the standards in the federal Pipeline Safety Act applying) could have an adverse effect on our financial position, results of operations, cash flows, and our dividends to our shareholders. These effects could be even greater in the event SFPP is unsuccessful in one or more of these lawsuits. | |
We believe we have recorded a right-of-way liability sufficient to cover our potential liability for back rent. | |
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 is obligated to defend and indemnify TGP in connection with the gas commitment and reporting claims. After agreeing initially to defend and indemnify TGP against such claims, Kinetica withdrew its defense and disputed its indemnity obligation. We intend to vigorously defend the suit and pursue Kinetica, if necessary, for indemnity and costs of defense. | |
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 Corporation, 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 were consolidated into one proceeding. Motions to dismiss were filed in Brinckerhoff III and Brinckerhoff IV, and such motions remain pending. 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 in late 2014 on the remaining claims. On April 20, 2015, subsequent to the issuance of our 2015 first quarter earnings release furnished as Exhibit 99.1 on Form 8-K dated April 15, 2015 (2015 first quarter earnings release), the Court issued a post-trial memorandum opinion (Memorandum Opinion) in Brinckerhoff II entering judgment in favor of all of the defendants other than the general partner of EPB, but finding the general partner liable for breach of contract in connection with EPB’s purchase of 49% interests in Elba and SLNG and a 15% interest in SNG in a $1.13 billion drop-down transaction that closed on November 19, 2010 (Fall Dropdown), prior to our acquisition of El Paso Corporation in 2012. In its Memorandum Opinion, the Court determined that EPB suffered damages of $171 million from the Fall Dropdown, which the Court determined to be the amount which EPB overpaid for Elba. We are reviewing the decision and continue to believe that the transaction was appropriate and in the best interests of EPB. Furthermore, we believe the claim is derivative in nature and was extinguished by our acquisition on November 26, 2014, pursuant to a merger agreement, of all of the outstanding common units of EPB that we did not already own. On December 2, 2014, we filed a motion to dismiss the remaining claims in Brinckerhoff II based upon our acquisition of all of the outstanding common units of EPB, which motion remains pending. On April 24, 2015, we filed post-trial motion for an order to establish a briefing schedule on our pending motion to dismiss and, if necessary, clarification of the Court’s Memorandum Opinion. On April 27, 2015, the Court denied our post-trial motion without prejudice, and established a briefing schedule to review the matters raised therein. As part of our review of the Court’s Memorandum Opinion, we are evaluating all options, including a possible appeal to the Delaware Supreme Court once a final decision is issued. At the present time, we do not believe that an ultimate award, if any, will have a material financial impact on our Company. We 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. On February 25, 2015, this ruling was affirmed by the Delaware Supreme Court, and the matter is now closed. | |
Price Reporting Litigation | |
Beginning in 2003, several lawsuits were filed by purchasers of natural gas against El Paso Corporation, El Paso Marketing L.P. and numerous other energy companies based on a claim under state antitrust law that such defendants 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. The U.S. Supreme Court affirmed the 9th Circuit Court of Appeals in a decision dated April 21, 2015. The case will now be remanded to the Nevada federal court for its further consideration and trial, if necessary, of numerous remaining issues. 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. | |
Kinder Morgan, Inc. Corporate Reorganization Litigation | |
Certain unitholders of KMP and EPB filed five putative class action lawsuits in the Court of Chancery of the State of Delaware in connection with the Merger Transactions, which the Court consolidated under the caption In re Kinder Morgan, Inc. Corporate Reorganization Litigation (Consolidated Case No. 10093-VCL). The plaintiffs originally sought to enjoin one or more of the proposed Merger Transactions, which relief the Court denied on November 5, 2014. On December 12, 2014, the plaintiffs filed a Verified Second Consolidated Amended Class Action Complaint, which purports to assert claims on behalf of both the former EPB unitholders and the former KMP unitholders. The EPB plaintiff alleged that (i) El Paso Pipeline GP Company, L.L.C. (EPGP), the general partner of EPB, and the directors of EPGP breached duties under the EPB partnership agreement, including the implied covenant of good faith and fair dealing, by entering into the EPB Transaction; (ii) EPB, E Merger Sub LLC, KMI and individual defendants aided and abetted such breaches; and (iii) EPB, E Merger Sub LLC, KMI, and individual defendants tortiously interfered with the EPB partnership agreement by causing EPGP to breach its duties under the EPB partnership agreement. | |
The KMP plaintiffs allege that (i) KMR, KMGP, and individual defendants breached duties under the KMP partnership agreement, including the implied duty of good faith and fair dealing, by entering into the KMP Transaction and by failing to adequately disclose material facts related to the transaction; (ii) KMI aided and abetted such breach; and (iii) KMI, KMP, KMR, P Merger Sub LLC, and individual defendants tortiously interfered with the rights of the plaintiffs and the putative class under the KMP partnership agreement by causing KMGP to breach its duties under the KMP partnership agreement. The complaint seeks declaratory relief that the transactions were unlawful and unenforceable, reformation, rescission, rescissory or compensatory damages, interest, and attorneys’ and experts’ fees and costs. On December 30, 2014, the defendants moved to dismiss the complaint. On April 2, 2015, the EPB plaintiff and the defendants submitted a stipulation and proposed order of dismissal, agreeing to dismiss all claims brought by the EPB plaintiff with prejudice as to the EPB lead plaintiff and without prejudice to all other members of the putative EPB class. The Court entered such order on April 2, 2015. | |
The defendants believe the allegations against them lack merit, and they intend to vigorously defend these lawsuits. | |
Kinder Morgan Energy Partners, L.P. Capex Litigation | |
Putative class action and derivative complaints were filed in the Court of Chancery in the State of Delaware against defendants KMI, KMGP and nominal defendant KMEP on February 5, 2014 and March 27, 2014 captioned Slotoroff v. Kinder Morgan, Inc., Kinder Morgan G.P., Inc. et al (Case No. 9318) and Burns et al v. Kinder Morgan, Inc., Kinder Morgan G.P., Inc. et al (Case No. 9479) respectively. The cases were consolidated on April 8, 2014 (Consolidated Case No. 9318). The consolidated suit 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 complaints. 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. | |
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 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 Kinder Morgan Energy Partners, L.P. Capex Litigation described above. | |
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 March 31, 2015 and December 31, 2014, our total reserve for legal matters was $518 million and $400 million, respectively. The reserve primarily relates to various claims from regulatory rate and right-of-way proceedings arising in our products pipeline segment and natural gas pipeline segment’s regulatory rate proceedings as well as certain corporate matters. The overall increase in the reserve from December 31, 2014 related to certain legal developments during the quarter on corporate matters. | |
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 a non-judicial allocation process to determine each party’s respective share of the cleanup costs. We are participating in the allocation process on behalf of KMLT and KMBT in connection with their current or former ownership or operation of four facilities located in Portland Harbor. We expect the allocation and RI/FS process to conclude in 2015, after which the EPA is expected to develop a proposed plan leading to a Record of Decision targeted for 2017. We anticipate 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 alleged 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. We have filed an answer, general denial, and affirmative defenses in response to the Second Amended Complaint. | |
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 us 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 No. 37-2007-00073033). On September 26, 2007, we removed the case to the U.S. District Court, Southern District of California (Case No. 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 to the U.S. Court of Appeals for the Ninth Circuit, which heard oral argument on February 3, 2015. The appeal remains pending. | |
This site has been, and currently is, under the regulatory oversight and order of the California Regional Water Quality Control Board (RWQCB). SFPP has completed the soil and groundwater remediation at the City of San Diego’s stadium property site and conducted 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. | |
Uranium Mines in Vicinity of Cameron, Arizona | |
In the 1950s and 1960s, Rare Metals Inc., a historical subsidiary of EPNG, mined approximately twenty 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. On September 3, 2014, EPNG filed a complaint in the U.S. District Court for the District of Arizona (Case No. 3:14-08165-DGC) seeking cost recovery and contribution from the applicable federal government agencies toward the cost of environmental activities associated with the mines, given the pervasive control of such federal agencies over all aspects of the nuclear weapons program. Defendants filed an answer and counterclaims seeking contribution and recovery of response costs allegedly incurred by the federal agencies in investigating uranium impacts on the Navajo Reservation. | |
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 Corporation 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 (JDG) of approximately 70 cooperating parties 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 JDG 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 was completed in June 2014. 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 September 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 February 13, 2015, the Court granted defendants’ motion to dismiss the suit for failure to state a claim, and issued an order dismissing the SLFPA’s claims with prejudice. The SLFPA filed a notice of appeal on February 20, 2015. | |
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. The plaintiff filed a motion to remand the case to state court, and such motion remains under consideration by the federal court. In connection with this suit, TGP has made two tenders for defense and indemnity: (1) to Anadarko, as successor to the entity that purchased TGP’s oil and gas assets in Bastian Bay, and (2) to Kinetica, which purchased TGP’s pipeline assets in Bastian Bay in 2013. Anadarko has accepted TGP’s tender (limited to oil and gas assets), and Kinetica rejected TGP’s tender. TGP responded to Kinetica be reasserting TGP’s demand for defense and indemnity and reserving its rights. | |
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 March 31, 2015 and December 31, 2014, we have accrued a total reserve for environmental liabilities in the amount of $332 million and $340 million, respectively. In addition, as of both March 31, 2015 and December 31, 2014, we have recorded a receivable of $14 million, for expected cost recoveries that have been deemed probable. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
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. | |
ASU No. 2015-02 | |
On February 18, 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810) - Amendments to the Consolidated Analysis.” This ASU focuses on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. ASU No. 2015-02 will be effective for U.S. public companies for annual reporting periods beginning after December 15, 2015. Early adoption is allowed, including in any interim period. We are currently reviewing the effect of ASU No. 2015-02 on our consolidation conclusion and disclosure. | |
ASU No. 2015-03 | |
On April 7, 2015, the FASB issued ASU No. 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Cost.” This ASU is designed to simplify presentation of debt issuance costs. The standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The amortization of debt issuance costs also shall be reported as interest expense. ASU No. 2015-03 will be effective for U.S. public companies for annual reporting periods beginning after December 15, 2015, including interim reporting periods (January 1, 2016 for us). Early adoption is permitted. The new guidance shall be applied on a retrospective basis for all periods presented. We are currently reviewing the effect of ASU No. 2015-03. |
Guarantee_of_Securities_of_Sub
Guarantee of Securities of Subsidiaries (Notes) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Guarantee of Securities of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||
Guarantees [Text Block] | Guarantee of Securities of Subsidiaries | ||||||||||||||||||||||||||||
KMI, along with its direct and indirect subsidiaries KMP and Copano, are issuers of certain public debt securities. After the completion of the Merger Transactions, KMI and substantially all of its wholly owned domestic subsidiaries, including KMP and Copano, entered into a cross guarantee agreement whereby each party to the agreement unconditionally guarantees, jointly and severally, the payment of specified indebtedness of each other party to the agreement. Accordingly, with the exception of certain subsidiaries identified as Non-Guarantor Subsidiaries, the parent issuer, subsidiary issuers and other subsidiaries are all guarantors of each series of public debt. As a result of the cross guarantee agreement, a holder of any of the guaranteed public debt securities issued by KMI, KMP or Copano are in the same position with respect to the net assets, income and cash flows of KMI and the Subsidiary Issuers and Guarantors. The only amounts that are not available to the holders of each of the guaranteed public debt securities to satisfy the repayment of such securities are the net assets, income and cash flows of the Subsidiary Non-Guarantors. | |||||||||||||||||||||||||||||
In lieu of providing separate financial statements for each subsidiary issuer and guarantor, we have included the accompanying condensed consolidating financial statements based on Rule 3-10 of the SEC’s Regulation S-X. We have presented each of the parent and subsidiary issuers in separate columns in this single set of condensed consolidating financial statements. | |||||||||||||||||||||||||||||
On January 1, 2015, EPB and its subsidiary, EPPOC merged with and into KMP with KMP surviving the merger. As a result of such merger, all of the wholly owned subsidiaries of EPB became wholly owned subsidiaries of KMP and effective January 1, 2015, EPB is no longer a Subsidiary Issuer and Guarantor. The condensed consolidating financial information reflects this transaction for all periods presented below. | |||||||||||||||||||||||||||||
Excluding fair value adjustments, as of March 31, 2015, Parent Issuer and Guarantor, Subsidiary Issuer and Guarantor-KMP, Subsidiary Issuer and Guarantor-Copano, and Subsidiary Guarantors had $14,226 million, $20,360 million, $332 million, and $7,401 million of Guaranteed Notes outstanding, respectively. Excluding fair value adjustments, as of December 31, 2014, Parent Issuer and Guarantor, Subsidiary Issuer and Guarantor-KMP, Subsidiary Issuer and Guarantor-Copano, and Subsidiary Guarantors had $12,674 million, $20,660 million, $332 million, and $6,463 million of Guaranteed Notes outstanding, respectively. Included in the Subsidiary Guarantors debt balance as presented in the accompanying March 31, 2015 and December 31, 2014 condensed consolidating balance sheets are approximately $177 million and $178 million, respectively, of capitalized lease debt that is not subject to the cross guarantee agreement. | |||||||||||||||||||||||||||||
The accounts within the Parent Issuer and Guarantor, Subsidiary Issuer and Guarantor-KMP, Subsidiary Issuer and Guarantor-Copano, Subsidiary Guarantors and Subsidiary Non-guarantors are presented using the equity method of accounting for investments in subsidiaries, including subsidiaries that are guarantors and non-guarantors, for purposes of these condensed consolidating financial statements only. These intercompany investments and related activity eliminate in consolidation and are presented separately in the accompanying balance sheets and statements of income and cash flows. | |||||||||||||||||||||||||||||
A significant amount of each Issuers’ income and cash flow is generated by its respective subsidiaries. As a result, the funds necessary to meet its debt service and/or guarantee obligations are provided in large part by distributions or advances it receives from its respective subsidiaries. We utilize a centralized cash pooling program among our majority-owned and consolidated subsidiaries, including the Subsidiary Issuers and Guarantors and Non-Guarantor Subsidiaries. The following Condensed Consolidating Statements of Cash Flows present the intercompany loan and distribution activity, as well as cash collection and payments made on behalf of our subsidiaries, as cash activities. | |||||||||||||||||||||||||||||
Effective November 26, 2014, the Merger Transactions close date, KMR merged into KMI. Therefore, for all periods presented KMR’s financial statement balances and activities are reflected within the Parent Issuer and Guarantor column. | |||||||||||||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||
for the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Total Revenues | $ | 9 | $ | — | $ | — | $ | 3,226 | $ | 375 | $ | (13 | ) | $ | 3,597 | ||||||||||||||
Operating costs, expenses and other | |||||||||||||||||||||||||||||
Costs of sales | — | — | — | 1,001 | 89 | — | 1,090 | ||||||||||||||||||||||
Depreciation, depletion and amortization | 5 | — | — | 442 | 91 | — | 538 | ||||||||||||||||||||||
Other operating expenses | 12 | 38 | 1 | 685 | 168 | (13 | ) | 891 | |||||||||||||||||||||
Total operating costs, expenses and other | 17 | 38 | 1 | 2,128 | 348 | (13 | ) | 2,519 | |||||||||||||||||||||
Operating (loss) income | (8 | ) | (38 | ) | (1 | ) | 1,098 | 27 | — | 1,078 | |||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Earnings (losses) from consolidated subsidiaries | 605 | 883 | (23 | ) | 548 | 16 | (2,029 | ) | — | ||||||||||||||||||||
Earnings from equity investments | — | — | — | 76 | — | — | 76 | ||||||||||||||||||||||
Interest, net | (104 | ) | (27 | ) | (12 | ) | (355 | ) | (14 | ) | — | (512 | ) | ||||||||||||||||
Amortization of excess cost of equity investments and other, net | — | — | — | (3 | ) | 4 | — | 1 | |||||||||||||||||||||
Income (loss) before income taxes | 493 | 818 | (36 | ) | 1,364 | 33 | (2,029 | ) | 643 | ||||||||||||||||||||
Income tax expense | (64 | ) | (2 | ) | — | (157 | ) | (1 | ) | — | (224 | ) | |||||||||||||||||
Net income (loss) | 429 | 816 | (36 | ) | 1,207 | 32 | (2,029 | ) | 419 | ||||||||||||||||||||
Net loss attributable to noncontrolling interests | — | — | — | — | — | 10 | 10 | ||||||||||||||||||||||
Net income (loss) attributable to controlling interests | $ | 429 | $ | 816 | $ | (36 | ) | $ | 1,207 | $ | 32 | $ | (2,019 | ) | $ | 429 | |||||||||||||
Net Income | $ | 429 | $ | 816 | $ | (36 | ) | $ | 1,207 | $ | 32 | $ | (2,029 | ) | $ | 419 | |||||||||||||
Total other comprehensive loss | (176 | ) | (238 | ) | — | (295 | ) | (164 | ) | 697 | (176 | ) | |||||||||||||||||
Comprehensive income (loss) | 253 | 578 | (36 | ) | 912 | (132 | ) | (1,332 | ) | 243 | |||||||||||||||||||
Comprehensive loss attributable to noncontrolling interests | — | — | — | — | — | 10 | 10 | ||||||||||||||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 253 | $ | 578 | $ | (36 | ) | $ | 912 | $ | (132 | ) | $ | (1,322 | ) | $ | 253 | ||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||
for the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Total Revenues | $ | 9 | $ | — | $ | — | $ | 3,630 | $ | 406 | $ | 2 | $ | 4,047 | |||||||||||||||
Operating costs, expenses and other | |||||||||||||||||||||||||||||
Costs of sales | — | — | — | 1,497 | 132 | 14 | 1,643 | ||||||||||||||||||||||
Depreciation, depletion and amortization | 5 | — | — | 399 | 92 | — | 496 | ||||||||||||||||||||||
Other operating expenses | 8 | 1 | 7 | 639 | 118 | (12 | ) | 761 | |||||||||||||||||||||
Total operating costs, expenses and other | 13 | 1 | 7 | 2,535 | 342 | 2 | 2,900 | ||||||||||||||||||||||
Operating (loss) income | (4 | ) | (1 | ) | (7 | ) | 1,095 | 64 | — | 1,147 | |||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Earnings from consolidated subsidiaries | 506 | 947 | 44 | 359 | 456 | (2,312 | ) | — | |||||||||||||||||||||
Earnings from equity investments | — | — | — | 99 | — | — | 99 | ||||||||||||||||||||||
Interest, net | (132 | ) | (24 | ) | (11 | ) | (250 | ) | (31 | ) | — | (448 | ) | ||||||||||||||||
Amortization of excess cost of equity investments and other, net | — | — | — | (7 | ) | 10 | — | 3 | |||||||||||||||||||||
Income before income taxes | 370 | 922 | 26 | 1,296 | 499 | (2,312 | ) | 801 | |||||||||||||||||||||
Income tax expense | (34 | ) | (3 | ) | — | (11 | ) | (152 | ) | — | (200 | ) | |||||||||||||||||
Net income | 336 | 919 | 26 | 1,285 | 347 | (2,312 | ) | 601 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (49 | ) | (69 | ) | — | — | — | (196 | ) | (314 | ) | ||||||||||||||||||
Net income attributable to controlling interests | $ | 287 | $ | 850 | $ | 26 | $ | 1,285 | $ | 347 | $ | (2,508 | ) | $ | 287 | ||||||||||||||
Net Income | $ | 336 | $ | 919 | $ | 26 | $ | 1,285 | $ | 347 | $ | (2,312 | ) | $ | 601 | ||||||||||||||
Total other comprehensive loss | (49 | ) | (118 | ) | — | (146 | ) | (110 | ) | 329 | (94 | ) | |||||||||||||||||
Comprehensive income | 287 | 801 | 26 | 1,139 | 237 | (1,983 | ) | 507 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (38 | ) | (68 | ) | — | — | — | (152 | ) | (258 | ) | ||||||||||||||||||
Comprehensive income attributable to controlling interests | $ | 249 | $ | 733 | $ | 26 | $ | 1,139 | $ | 237 | $ | (2,135 | ) | $ | 249 | ||||||||||||||
Condensed Consolidating Balance Sheets as of March 31, 2015 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | Adjustments | ||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 13 | $ | 15 | $ | — | $ | 40 | $ | 191 | $ | — | $ | 259 | |||||||||||||||
Other current assets - affiliates | 3,138 | 1,833 | 18 | 12,665 | 574 | (18,228 | ) | — | |||||||||||||||||||||
All other current assets | 202 | 153 | 1 | 2,354 | 333 | (13 | ) | 3,030 | |||||||||||||||||||||
Property, plant and equipment, net | 277 | — | 1 | 31,462 | 8,549 | — | 40,289 | ||||||||||||||||||||||
Investments | 16 | 2 | — | 5,885 | 108 | — | 6,011 | ||||||||||||||||||||||
Investments in subsidiaries | 32,381 | 31,011 | 1,888 | 17,741 | 3,324 | (86,345 | ) | — | |||||||||||||||||||||
Goodwill | 15,089 | 22 | 920 | 5,688 | 3,188 | — | 24,907 | ||||||||||||||||||||||
Notes receivable from affiliates | 4,590 | 22,593 | — | 2,256 | 323 | (29,762 | ) | — | |||||||||||||||||||||
Deferred tax assets | — | — | — | 9,159 | — | (3,614 | ) | 5,545 | |||||||||||||||||||||
Other non-current assets | 310 | 449 | — | 5,236 | 128 | — | 6,123 | ||||||||||||||||||||||
Total assets | $ | 56,016 | $ | 56,078 | $ | 2,828 | $ | 92,486 | $ | 16,718 | $ | (137,962 | ) | $ | 86,164 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Current portion of debt | $ | 963 | $ | 875 | $ | — | $ | 1,471 | $ | 126 | $ | — | $ | 3,435 | |||||||||||||||
Other current liabilities - affiliates | 551 | 13,417 | 276 | 3,343 | 641 | (18,228 | ) | — | |||||||||||||||||||||
All other current liabilities | 302 | 224 | 16 | 2,105 | 715 | (13 | ) | 3,349 | |||||||||||||||||||||
Long-term debt | 13,965 | 20,271 | 384 | 6,510 | 694 | — | 41,824 | ||||||||||||||||||||||
Notes payable to affiliates | 2,542 | 448 | 606 | 24,784 | 1,382 | (29,762 | ) | — | |||||||||||||||||||||
Deferred income taxes | 2,126 | — | 2 | — | 1,486 | (3,614 | ) | — | |||||||||||||||||||||
All other long-term liabilities and deferred credits | 538 | 175 | — | 989 | 495 | — | 2,197 | ||||||||||||||||||||||
Total liabilities | 20,987 | 35,410 | 1,284 | 39,202 | 5,539 | (51,617 | ) | 50,805 | |||||||||||||||||||||
Stockholders’ equity | |||||||||||||||||||||||||||||
Total KMI equity | 35,029 | 20,668 | 1,544 | 53,284 | 11,179 | (86,675 | ) | 35,029 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 330 | 330 | ||||||||||||||||||||||
Total stockholders’ equity | 35,029 | 20,668 | 1,544 | 53,284 | 11,179 | (86,345 | ) | 35,359 | |||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 56,016 | $ | 56,078 | $ | 2,828 | $ | 92,486 | $ | 16,718 | $ | (137,962 | ) | $ | 86,164 | ||||||||||||||
Condensed Consolidating Balance Sheets as of December 31, 2014 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | Adjustments | ||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 4 | $ | 15 | $ | — | $ | 17 | $ | 279 | $ | — | $ | 315 | |||||||||||||||
Other current assets - affiliates | 1,868 | 1,335 | 11 | 11,573 | 403 | (15,190 | ) | — | |||||||||||||||||||||
All other current assets | 397 | 152 | 3 | 2,547 | 358 | (20 | ) | 3,437 | |||||||||||||||||||||
Property, plant and equipment, net | 263 | — | 5 | 29,490 | 8,806 | — | 38,564 | ||||||||||||||||||||||
Investments | 16 | 1 | — | 5,910 | 109 | — | 6,036 | ||||||||||||||||||||||
Investments in subsidiaries | 31,372 | 33,414 | 1,911 | 17,868 | 3,337 | (87,902 | ) | — | |||||||||||||||||||||
Goodwill | 15,087 | 22 | 920 | 5,419 | 3,206 | — | 24,654 | ||||||||||||||||||||||
Notes receivable from affiliates | 4,459 | 19,832 | — | 2,415 | 496 | (27,202 | ) | — | |||||||||||||||||||||
Deferred tax assets | — | — | — | 9,256 | — | (3,605 | ) | 5,651 | |||||||||||||||||||||
Other non-current assets | 287 | 360 | — | 3,782 | 112 | — | 4,541 | ||||||||||||||||||||||
Total assets | $ | 53,753 | $ | 55,131 | $ | 2,850 | $ | 88,277 | $ | 17,106 | $ | (133,919 | ) | $ | 83,198 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Current portion of debt | $ | 1,486 | $ | 699 | $ | — | $ | 381 | $ | 151 | $ | — | $ | 2,717 | |||||||||||||||
Other current liabilities - affiliates | 709 | 11,949 | 115 | 1,551 | 866 | (15,190 | ) | — | |||||||||||||||||||||
All other current liabilities | 319 | 498 | 12 | 1,812 | 1,024 | (20 | ) | 3,645 | |||||||||||||||||||||
Long-term debt | 11,862 | 20,675 | 386 | 6,609 | 714 | — | 40,246 | ||||||||||||||||||||||
Notes payable to affiliates | 2,619 | 153 | 753 | 22,437 | 1,240 | (27,202 | ) | — | |||||||||||||||||||||
Deferred income taxes | 2,099 | — | 2 | — | 1,504 | (3,605 | ) | — | |||||||||||||||||||||
Other long-term liabilities and deferred credits | 583 | 78 | 2 | 987 | 514 | — | 2,164 | ||||||||||||||||||||||
Total liabilities | 19,677 | 34,052 | 1,270 | 33,777 | 6,013 | (46,017 | ) | 48,772 | |||||||||||||||||||||
Stockholders’ equity | |||||||||||||||||||||||||||||
Total KMI equity | 34,076 | 21,079 | 1,580 | 54,500 | 11,093 | (88,252 | ) | 34,076 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 350 | 350 | ||||||||||||||||||||||
Total stockholders’ equity | 34,076 | 21,079 | 1,580 | 54,500 | 11,093 | (87,902 | ) | 34,426 | |||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 53,753 | $ | 55,131 | $ | 2,850 | $ | 88,277 | $ | 17,106 | $ | (133,919 | ) | $ | 83,198 | ||||||||||||||
Condensed Consolidating Statements of Cash Flows for the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (224 | ) | $ | 3,675 | $ | 139 | $ | 424 | $ | (167 | ) | $ | (2,591 | ) | $ | 1,256 | ||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Funding to affiliates | (246 | ) | (4,664 | ) | — | (1,432 | ) | (98 | ) | 6,440 | — | ||||||||||||||||||
Capital expenditures | (18 | ) | — | (2 | ) | (786 | ) | (95 | ) | 4 | (897 | ) | |||||||||||||||||
Contributions to investments | — | — | — | (30 | ) | — | — | (30 | ) | ||||||||||||||||||||
Investment in KMP | (159 | ) | — | — | — | — | 159 | — | |||||||||||||||||||||
Acquisitions of assets and investments | (1,709 | ) | — | — | (155 | ) | — | — | (1,864 | ) | |||||||||||||||||||
Distributions from equity investments in excess of cumulative earnings | 14 | — | — | 36 | — | — | 50 | ||||||||||||||||||||||
Other, net | — | (31 | ) | 4 | 4 | (7 | ) | (4 | ) | (34 | ) | ||||||||||||||||||
Net cash (used in) provided by investing activities | (2,118 | ) | (4,695 | ) | 2 | (2,363 | ) | (200 | ) | 6,599 | (2,775 | ) | |||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Issuance of debt | 7,136 | — | — | — | — | — | 7,136 | ||||||||||||||||||||||
Payment of debt | (5,967 | ) | (300 | ) | — | (36 | ) | (2 | ) | — | (6,305 | ) | |||||||||||||||||
Funding from (to) affiliates | 534 | 2,311 | (141 | ) | 3,400 | 336 | (6,440 | ) | — | ||||||||||||||||||||
Debt issuance costs | (16 | ) | — | — | — | — | — | (16 | ) | ||||||||||||||||||||
Issuances of shares | 1,626 | — | — | — | — | — | 1,626 | ||||||||||||||||||||||
Cash dividends | (962 | ) | — | — | — | — | — | (962 | ) | ||||||||||||||||||||
Contributions from parents | — | 156 | — | 3 | — | (159 | ) | — | |||||||||||||||||||||
Distributions to parents | — | (1,147 | ) | — | (1,404 | ) | (50 | ) | 2,601 | — | |||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | — | — | (10 | ) | (10 | ) | ||||||||||||||||||||
Other, net | — | — | — | (1 | ) | — | — | (1 | ) | ||||||||||||||||||||
Net cash provided by (used in) financing activities | 2,351 | 1,020 | (141 | ) | 1,962 | 284 | (4,008 | ) | 1,468 | ||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | (5 | ) | — | (5 | ) | ||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 9 | — | — | 23 | (88 | ) | — | (56 | ) | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | 4 | 15 | — | 17 | 279 | — | 315 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 13 | $ | 15 | $ | — | $ | 40 | $ | 191 | $ | — | $ | 259 | |||||||||||||||
Condensed Consolidating Statements of Cash Flows for the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 438 | $ | 1,435 | $ | 79 | $ | 740 | $ | 214 | $ | (1,788 | ) | $ | 1,118 | ||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Funding to affiliates | (64 | ) | (2,986 | ) | — | (1,168 | ) | (210 | ) | 4,428 | — | ||||||||||||||||||
Capital expenditures | (15 | ) | — | (27 | ) | (599 | ) | (204 | ) | — | (845 | ) | |||||||||||||||||
Contributions to investments | — | (76 | ) | — | (36 | ) | — | 76 | (36 | ) | |||||||||||||||||||
Investment in KMP | (11 | ) | — | — | — | — | 11 | — | |||||||||||||||||||||
Acquisitions of assets and investments | — | — | — | (990 | ) | — | — | (990 | ) | ||||||||||||||||||||
Distributions from equity investments in excess of cumulative earnings | 10 | 156 | — | 38 | — | (166 | ) | 38 | |||||||||||||||||||||
Other, net | — | (22 | ) | — | 23 | 13 | — | 14 | |||||||||||||||||||||
Net cash used in investing activities | (80 | ) | (2,928 | ) | (27 | ) | (2,732 | ) | (401 | ) | 4,349 | (1,819 | ) | ||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Issuance of debt | 643 | 4,548 | — | — | — | — | 5,191 | ||||||||||||||||||||||
Payment of debt | (491 | ) | (3,618 | ) | — | (73 | ) | (2 | ) | — | (4,184 | ) | |||||||||||||||||
Funding from (to) affiliates | 39 | 1,010 | (53 | ) | 3,280 | 152 | (4,428 | ) | — | ||||||||||||||||||||
Debt issuance costs | (2 | ) | (10 | ) | — | — | — | — | (12 | ) | |||||||||||||||||||
Cash dividends | (425 | ) | — | — | — | — | — | (425 | ) | ||||||||||||||||||||
Repurchases of shares and warrants | (149 | ) | — | — | — | — | — | (149 | ) | ||||||||||||||||||||
Contributions from parents | — | 661 | — | 83 | 24 | (768 | ) | — | |||||||||||||||||||||
Contributions from noncontrolling interests | — | — | — | — | — | 684 | 684 | ||||||||||||||||||||||
Distributions to parents | — | (1,080 | ) | — | (1,310 | ) | (39 | ) | 2,429 | — | |||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | — | — | (479 | ) | (479 | ) | ||||||||||||||||||||
Other, net | — | (2 | ) | — | 1 | — | 1 | — | |||||||||||||||||||||
Net cash (used in) provided by financing activities | (385 | ) | 1,509 | (53 | ) | 1,981 | 135 | (2,561 | ) | 626 | |||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | (10 | ) | — | (10 | ) | ||||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | (27 | ) | 16 | (1 | ) | (11 | ) | (62 | ) | — | (85 | ) | |||||||||||||||||
Cash and cash equivalents, beginning of period | 83 | 88 | 1 | 17 | 409 | — | 598 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 56 | $ | 104 | $ | — | $ | 6 | $ | 347 | $ | — | $ | 513 | |||||||||||||||
General_Policies
General (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | |
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 (SEC). 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, certain amounts from prior years have been reclassified to conform to the current presentation. | |
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 2014 Form 10-K. | |
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) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Schedule of Net Income for Shareholders and Participating Securities [Table Text Block] | The following tables set forth the allocation of net income available to shareholders for Class P shares and for participating securities and the reconciliation of Basic Weighted-Average Number of Shares Outstanding to Diluted Weighted-Average Number of Shares Outstanding (in millions): | |||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Class P | $ | 426 | $ | 284 | ||||
Participating securities(a) | 3 | 3 | ||||||
Net Income Attributable to Kinder Morgan, Inc. | $ | 429 | $ | 287 | ||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Basic Weighted-Average Number of Shares Outstanding | 2,141 | 1,029 | ||||||
Effect of dilutive securities: | ||||||||
Warrants(b) | 10 | — | ||||||
Diluted Weighted-Average Number of Shares Outstanding | 2,151 | 1,029 | ||||||
________ | ||||||||
(a) | Participating securities are unvested restricted stock awards issued to management employees that contain non-forfeitable rights to dividend equivalent payments. | |||||||
(b) | 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. | |||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | 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 March 31, | ||||||||
2015 | 2014 | |||||||
Unvested restricted stock awards | 7 | 7 | ||||||
Warrants to purchase our Class P shares | 289 | 341 | ||||||
Convertible trust preferred securities | 9 | 10 | ||||||
_______ |
Acquisitions_Tables
Acquisitions (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Business Acquisition [Line Items] | ||||||||
Schedule of Purchase Price Allocation [Table Text Block] | Our preliminary allocation of the purchase price for each of our significant acquisitions during the three months ended March 31, 2015 (in millions) is detailed below. The evaluation of the assigned fair values is ongoing and subject to adjustment. | |||||||
Acquisitions | ||||||||
Hiland | Vopak Terminal Assets | |||||||
Purchase Price Allocation: | ||||||||
Current assets | $ | 44 | $ | 3 | ||||
Property, plant and equipment | 1,521 | 131 | ||||||
Goodwill | 238 | 29 | ||||||
Other intangibles(a) | 1,507 | — | ||||||
Total assets acquired | 3,310 | 163 | ||||||
Current liabilities | (187 | ) | (2 | ) | ||||
Debt | (1,411 | ) | — | |||||
Other liabilities | (3 | ) | (3 | ) | ||||
Cash consideration | $ | 1,709 | $ | 158 | ||||
Debt_Tables
Debt (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Schedule of Debt [Table Text Block] | The following table provides detail on the principal amount of our outstanding debt balances. The table amounts exclude all debt fair value adjustments, including debt discounts and premiums (in millions): | ||||||||
March 31, 2015 | 31-Dec-14 | ||||||||
KMI and Subsidiaries | |||||||||
Senior notes, 1.50% through 8.25%, due 2015 through 2098(a) | $ | 13,330 | $ | 11,438 | |||||
Credit facility due November 26, 2019(b) | 600 | 850 | |||||||
Commercial paper borrowings(b) | 296 | 386 | |||||||
KMP | |||||||||
Senior notes, 2.65% through 9.00%, due 2015 through 2044(c) | 20,360 | 20,660 | |||||||
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 | |||||||
CIG senior notes, 5.95% through 6.85%, due 2015 through 2037 | 440 | 475 | |||||||
SNG notes, 4.40% through 8.00%, due 2017 through 2032 | 1,211 | 1,211 | |||||||
Other Subsidiary Borrowings (as obligor) | |||||||||
Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036 | 1,636 | 1,636 | |||||||
Hiland Partners Holdings LLC, senior notes, 5.50% and 7.25%, due 2020 and 2022(d) | 975 | — | |||||||
EPC Building, LLC, promissory note, 3.967%, due 2015 through 2035 | 450 | 453 | |||||||
Preferred securities, 4.75%, due March 31, 2028 | 232 | 280 | |||||||
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | 100 | 100 | |||||||
Other miscellaneous debt | 301 | 303 | |||||||
Total debt – KMI and Subsidiaries | 43,168 | 41,029 | |||||||
Less: Current portion of debt(e) | 3,435 | 2,717 | |||||||
Total long-term debt – KMI and Subsidiaries(f) | $ | 39,733 | $ | 38,312 | |||||
_______ | |||||||||
(a) | March 31, 2015 amount includes senior notes that are denominated in Euros and have been converted and are reported at the March 31, 2015 exchange rate of 1.0731 U.S. dollars per Euro. We also entered into cross-currency swap agreements associated with these senior notes (see Note 5). | ||||||||
(b) | As of March 31, 2015 and December 31, 2014, the weighted average interest rates on our credit facility borrowings, including commercial paper borrowings, were 1.56% and 1.54%, respectively. | ||||||||
(c) | On January 1, 2015, EPB and EPPOC merged with and into KMP. On that date, KMP succeeded EPPOC as the issuer of approximately $2.9 billion of EPPOC’s senior notes, which were guaranteed by EPB, and EPB and EPPOC ceased to be obligors for those senior notes. | ||||||||
(d) | Represents the principal amount of senior notes assumed in the Hiland acquisition. | ||||||||
(e) | Amounts include outstanding credit facility and commercial paper borrowings. | ||||||||
(f) | As of March 31, 2015 and December 31, 2014, our “Debt fair value adjustments” increased our combined debt balances by $2,091 million and $1,934 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. | ||||||||
Schedule of Significant Long-Term Debt Issuances and Payments [Table Text Block] | following are significant long-term debt issuances and repayments made during the three months ended March 31, 2015: | ||||||||
Issuances | $800 million 5.05% notes due 2046 | ||||||||
$815 million 1.50% notes due 2022(a) | |||||||||
$543 million 2.25% notes due 2027(a) | |||||||||
Repayments | $300 million 5.625% notes due 2015 | ||||||||
$250 million 5.15% notes due 2015 | |||||||||
_______ | |||||||||
(a) | Senior notes are denominated in Euros and are presented above in U.S. dollars at the exchange rate on the issuance date of 1.086 U.S. dollars per Euro. We also entered into cross-currency swap agreements associated with these senior notes (see Note 5). |
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Stockholders' Equity Note [Abstract] | ||||||||
Schedule of Dividends Payable [Table Text Block] | The following table provides information about our per share dividends: | |||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Per common share cash dividend declared for the period | $ | 0.48 | $ | 0.42 | ||||
Per common share cash dividend paid in the period | $ | 0.45 | $ | 0.41 | ||||
Risk_Management_Tables
Risk Management (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Changes in the components of our “Accumulated other comprehensive loss” not including non-controlling interests are summarized as follows (in millions): | ||||||||||||||||||||||||||||
Net unrealized | Foreign | Pension and | Total | ||||||||||||||||||||||||||
gains/(losses) | currency | other | accumulated other | ||||||||||||||||||||||||||
on cash flow | translation | postretirement | comprehensive income/(loss) | ||||||||||||||||||||||||||
hedge derivatives | adjustments | liability adjustments | |||||||||||||||||||||||||||
Balance as of December 31, 2014 | $ | 327 | $ | (108 | ) | $ | (236 | ) | $ | (17 | ) | ||||||||||||||||||
Other comprehensive loss before reclassifications | (2 | ) | (108 | ) | 6 | (104 | ) | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (72 | ) | — | — | (72 | ) | |||||||||||||||||||||||
Net current-period other comprehensive loss | (74 | ) | (108 | ) | 6 | (176 | ) | ||||||||||||||||||||||
Balance as of March 31, 2015 | $ | 253 | $ | (216 | ) | $ | (230 | ) | $ | (193 | ) | ||||||||||||||||||
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 | (19 | ) | (25 | ) | — | (44 | ) | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | 6 | — | — | 6 | |||||||||||||||||||||||||
Net current-period other comprehensive loss | (13 | ) | (25 | ) | — | (38 | ) | ||||||||||||||||||||||
Balance as of March 31, 2014 | $ | (16 | ) | $ | (23 | ) | $ | (23 | ) | $ | (62 | ) | |||||||||||||||||
Schedule of Derivative Instruments | As of March 31, 2015, we had entered into the following outstanding commodity forward contracts to hedge our forecasted energy commodity purchases and sales: | ||||||||||||||||||||||||||||
Net open position long/(short) | |||||||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (12.8 | ) | MMBbl | ||||||||||||||||||||||||||
Crude oil basis | (12.1 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (50.7 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | (25.9 | ) | Bcf | ||||||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Crude oil fixed price | (14.2 | ) | MMBbl | ||||||||||||||||||||||||||
Crude oil basis | (0.3 | ) | MMBbl | ||||||||||||||||||||||||||
Natural gas fixed price | (17.9 | ) | Bcf | ||||||||||||||||||||||||||
Natural gas basis | (16.5 | ) | Bcf | ||||||||||||||||||||||||||
NGL fixed price | (52.7 | ) | 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 (in millions): | ||||||||||||||||||||||||||||
Fair Value of Derivative Contracts | |||||||||||||||||||||||||||||
Asset derivatives | Liability derivatives | ||||||||||||||||||||||||||||
March 31, | December 31, | March 31, | December 31, | ||||||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||||||
Balance sheet location | Fair value | Fair value | |||||||||||||||||||||||||||
Derivatives designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas and crude derivative contracts | Fair value of derivative contracts/(Other current liabilities) | $ | 318 | $ | 309 | $ | (63 | ) | $ | (34 | ) | ||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 44 | 6 | (2 | ) | — | ||||||||||||||||||||||||
Subtotal | 362 | 315 | (65 | ) | (34 | ) | |||||||||||||||||||||||
Interest rate swap agreements | Fair value of derivative contracts/(Other current liabilities) | 171 | 143 | — | — | ||||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 329 | 260 | (5 | ) | (53 | ) | |||||||||||||||||||||||
Subtotal | 500 | 403 | (5 | ) | (53 | ) | |||||||||||||||||||||||
Cross-currency swap agreements | Fair value of derivative contracts/(Other current liabilities) | — | — | (31 | ) | — | |||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | — | — | (23 | ) | — | ||||||||||||||||||||||||
Subtotal | — | — | (54 | ) | — | ||||||||||||||||||||||||
Total | 862 | 718 | (124 | ) | (87 | ) | |||||||||||||||||||||||
Derivatives not designated as hedging contracts | |||||||||||||||||||||||||||||
Natural gas, crude and NGL derivative contracts | Fair value of derivative contracts/(Other current liabilities) | 62 | 73 | (1 | ) | (2 | ) | ||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 174 | 196 | (1 | ) | — | ||||||||||||||||||||||||
Subtotal | 236 | 269 | (2 | ) | (2 | ) | |||||||||||||||||||||||
Power derivative contracts | Fair value of derivative contracts/(Other current liabilities) | 10 | 10 | (56 | ) | (57 | ) | ||||||||||||||||||||||
Deferred charges and other assets/(Other long-term liabilities and deferred credits) | 1 | — | (4 | ) | (16 | ) | |||||||||||||||||||||||
Subtotal | 11 | 10 | (60 | ) | (73 | ) | |||||||||||||||||||||||
Total | 247 | 279 | (62 | ) | (75 | ) | |||||||||||||||||||||||
Total derivatives | $ | 1,109 | $ | 997 | $ | (186 | ) | $ | (162 | ) | |||||||||||||||||||
_______ | |||||||||||||||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following tables summarize the impact of our derivative contracts on our accompanying consolidated statements of income (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 | |||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Interest rate swap agreements | Interest expense | $ | 145 | $ | 55 | ||||||||||||||||||||||||
Hedged fixed rate debt | Interest expense | $ | (139 | ) | $ | (55 | ) | ||||||||||||||||||||||
Derivatives in cash flow hedging relationships | Amount of gain/(loss) | Location of gain/(loss) reclassified from Accumulated OCI into income (effective portion) | Amount of gain/(loss) reclassified from Accumulated OCI | Location of gain/(loss) recognized in income on | Amount of gain/(loss) | ||||||||||||||||||||||||
recognized in OCI | 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 March 31, | Three Months Ended March 31, | Three Months Ended March 31, | |||||||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||||
Energy commodity | $ | 35 | $ | (43 | ) | Revenues—Natural | $ | 24 | $ | (9 | ) | Revenues—Natural | $ | — | $ | — | |||||||||||||
derivative contracts | gas sales | gas sales | |||||||||||||||||||||||||||
Revenues—Product | 64 | (6 | ) | Revenues—Product | 7 | (5 | ) | ||||||||||||||||||||||
sales and other | sales and other | ||||||||||||||||||||||||||||
Costs of sales | (5 | ) | 1 | Costs of sales | — | — | |||||||||||||||||||||||
Interest rate swap | (3 | ) | (2 | ) | Interest expense | (1 | ) | — | Interest expense | — | — | ||||||||||||||||||
agreements | |||||||||||||||||||||||||||||
Cross-currency swap | (34 | ) | — | Other, net | (10 | ) | — | ||||||||||||||||||||||
Total | $ | (2 | ) | $ | (45 | ) | Total | $ | 72 | $ | (14 | ) | Total | $ | 7 | $ | (5 | ) | |||||||||||
_______ | |||||||||||||||||||||||||||||
(a) | We expect to reclassify an approximate $175 million gain associated with cash flow hedge price risk management activities included in our accumulated other comprehensive loss balances as of March 31, 2015 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 March 31, | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts | Revenues—Natural gas sales | $ | 4 | $ | (7 | ) | |||||||||||||||||||||||
Revenues—Product sales and other | 45 | (1 | ) | ||||||||||||||||||||||||||
Costs of sales | (3 | ) | 10 | ||||||||||||||||||||||||||
Other expense (income) | — | (2 | ) | ||||||||||||||||||||||||||
Total(a) | $ | 46 | $ | — | |||||||||||||||||||||||||
_______ | |||||||||||||||||||||||||||||
(a) As of March 31, 2015, includes an approximate $5 million loss associated with natural gas, crude and NGL derivative contract settlements. |
Fair_Value_Tables
Fair Value (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following two tables summarize the fair value measurements of our (i) energy commodity derivative contracts; (ii) interest rate swap agreements; and (iii) cross-currency swap agreements, based on the three levels established by the Codification (in millions). The tables also identify the impact of derivative contracts which we have elected to present on our accompanying consolidated balance sheets on a gross basis that are eligible for netting under master netting agreements. | |||||||||||||||||||||||||||
Balance sheet asset | Net amount | |||||||||||||||||||||||||||
fair value measurements by level | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Contracts available for netting | Cash collateral held(b) | |||||||||||||||||||||||
As of March 31, 2015 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 39 | $ | 559 | $ | 11 | $ | 609 | $ | (70 | ) | $ | — | $ | 539 | |||||||||||||
Interest rate swap agreements | $ | — | $ | 500 | $ | — | $ | 500 | $ | (3 | ) | $ | — | $ | 497 | |||||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | 49 | $ | 533 | $ | 12 | $ | 594 | $ | (46 | ) | $ | (13 | ) | $ | 535 | ||||||||||||
Interest rate swap agreements | $ | — | $ | 403 | $ | — | $ | 403 | $ | (44 | ) | $ | — | $ | 359 | |||||||||||||
Balance sheet liability | Net amount | |||||||||||||||||||||||||||
fair value measurements by level | ||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Gross amount | Contracts available for netting | Collateral posted(c) | |||||||||||||||||||||||
As of March 31, 2015 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (26 | ) | $ | (41 | ) | $ | (60 | ) | $ | (127 | ) | $ | 70 | $ | 44 | $ | (13 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (5 | ) | $ | — | $ | (5 | ) | $ | 3 | $ | — | $ | (2 | ) | |||||||||||
Cross-currency swap agreements | $ | — | $ | (54 | ) | $ | — | $ | (54 | ) | $ | — | $ | — | $ | (54 | ) | |||||||||||
As of December 31, 2014 | ||||||||||||||||||||||||||||
Energy commodity derivative contracts(a) | $ | (25 | ) | $ | (11 | ) | $ | (73 | ) | $ | (109 | ) | $ | 46 | $ | 47 | $ | (16 | ) | |||||||||
Interest rate swap agreements | $ | — | $ | (53 | ) | $ | — | $ | (53 | ) | $ | 44 | $ | — | $ | (9 | ) | |||||||||||
_______ | ||||||||||||||||||||||||||||
(a) | Level 1 consists primarily of New York Mercantile Exchange (NYMEX) natural gas futures. Level 2 consists primarily of OTC West Texas Intermediate (WTI) swaps and options. Level 3 consists primarily of power derivative contracts. | |||||||||||||||||||||||||||
(b) | Cash margin deposits held by us associated with our 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 us associated with our 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 (in millions): | |||||||||||||||||||||||||||
Significant unobservable inputs (Level 3) | ||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Derivatives-net asset (liability) | ||||||||||||||||||||||||||||
Beginning of Period | $ | (61 | ) | $ | (110 | ) | ||||||||||||||||||||||
Total gains or (losses) | ||||||||||||||||||||||||||||
Included in earnings | — | 7 | ||||||||||||||||||||||||||
Included in other comprehensive loss | — | (1 | ) | |||||||||||||||||||||||||
Settlements | 12 | 4 | ||||||||||||||||||||||||||
End of Period | $ | (49 | ) | $ | (100 | ) | ||||||||||||||||||||||
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 | $ | 1 | $ | 3 | ||||||||||||||||||||||||
_______ | ||||||||||||||||||||||||||||
Schedule of Debt [Table Text Block] | The estimated fair value of our outstanding debt balances (the carrying amounts below include both short-term and long-term and debt fair value adjustments), is disclosed below (in millions): | |||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Carrying | Estimated | Carrying | Estimated | |||||||||||||||||||||||||
value | fair value | value | fair value | |||||||||||||||||||||||||
Total debt | $ | 45,259 | $ | 46,480 | $ | 42,963 | $ | 43,582 | ||||||||||||||||||||
_______ | ||||||||||||||||||||||||||||
We used Level 2 input values to measure the estimated fair value of our outstanding debt balances as of both March 31, 2015 and December 31, 2014. |
Reportable_Segments_Tables
Reportable Segments (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Segment Reporting [Abstract] | ||||||||
Schedule of Segment Reporting Information, by Segment | Financial information by segment follows (in millions): | |||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Revenues | ||||||||
Natural Gas Pipelines | ||||||||
Revenues from external customers | $ | 2,177 | $ | 2,557 | ||||
Intersegment revenues | 3 | 4 | ||||||
CO2 | 446 | 483 | ||||||
Terminals | 457 | 391 | ||||||
Products Pipelines | 444 | 534 | ||||||
Kinder Morgan Canada | 60 | 69 | ||||||
Other | 4 | 4 | ||||||
Total segment revenues | 3,591 | 4,042 | ||||||
Other revenues | 9 | 9 | ||||||
Less: Total intersegment revenues | (3 | ) | (4 | ) | ||||
Total consolidated revenues | $ | 3,597 | $ | 4,047 | ||||
Three Months Ended March 30, | ||||||||
2015 | 2014 | |||||||
Segment Earnings Before DD&A(a) | ||||||||
Natural Gas Pipelines | $ | 1,015 | $ | 1,070 | ||||
CO2 | 336 | 363 | ||||||
Terminals | 270 | 210 | ||||||
Products Pipelines | 246 | 208 | ||||||
Kinder Morgan Canada | 41 | 48 | ||||||
Other | (6 | ) | 7 | |||||
Total segment earnings before DD&A | 1,902 | 1,906 | ||||||
DD&A expense | (538 | ) | (496 | ) | ||||
Amortization of excess cost of investments | (12 | ) | (10 | ) | ||||
Other revenues | 9 | 9 | ||||||
General and administrative expense | (216 | ) | (172 | ) | ||||
Interest expense, net of unallocable interest income | (514 | ) | (450 | ) | ||||
Unallocable income tax expense | (212 | ) | (186 | ) | ||||
Total consolidated net income | $ | 419 | $ | 601 | ||||
March 31, | December 31, | |||||||
2015 | 2014 | |||||||
Assets | ||||||||
Natural Gas Pipelines | $ | 54,539 | $ | 52,523 | ||||
CO2 | 5,318 | 5,227 | ||||||
Terminals | 9,071 | 8,850 | ||||||
Products Pipelines | 8,364 | 7,179 | ||||||
Kinder Morgan Canada | 1,480 | 1,593 | ||||||
Other | 443 | 459 | ||||||
Total segment assets | 79,215 | 75,831 | ||||||
Corporate assets(b) | 6,920 | 7,311 | ||||||
Assets held for sale | 29 | 56 | ||||||
Total consolidated assets | $ | 86,164 | $ | 83,198 | ||||
_______ | ||||||||
(a) | We evaluate performance based on each segment’s earnings before DD&A. Amounts include revenues, earnings from equity investments, allocable interest income, and other, net, less operating expenses, allocable income taxes, and other expense (income), net, and losses on impairments of long-lived assets and equity investments. Operating expenses include natural gas purchases and other costs of sales, operations and maintenance expenses, and taxes, other than income taxes. | |||||||
(b) | 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) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
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 | |||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Service cost | $ | 6 | $ | 7 | $ | — | $ | — | ||||||||
Interest cost | 24 | 27 | 6 | 7 | ||||||||||||
Expected return on assets | (43 | ) | (43 | ) | (6 | ) | (6 | ) | ||||||||
Amortization of prior service credits | — | — | (1 | ) | (1 | ) | ||||||||||
Amortization of net actuarial loss | 1 | — | — | — | ||||||||||||
Net benefit plan credit | $ | (12 | ) | $ | (9 | ) | $ | (1 | ) | $ | — | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Income tax expense included in our accompanying consolidated statements of income were as follows (in millions, except percentages): | |||||||
Three Months Ended March 31, | ||||||||
2015 | 2014 | |||||||
Income tax expense | $ | 224 | $ | 200 | ||||
Effective tax rate | 34.8 | % | 25 | % |
Guarantee_of_Securities_of_Sub1
Guarantee of Securities of Subsidiaries (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Guarantee of Securities of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income [Table Text Block] | Condensed Consolidating Statements of Income and Comprehensive Income | ||||||||||||||||||||||||||||
for the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Total Revenues | $ | 9 | $ | — | $ | — | $ | 3,226 | $ | 375 | $ | (13 | ) | $ | 3,597 | ||||||||||||||
Operating costs, expenses and other | |||||||||||||||||||||||||||||
Costs of sales | — | — | — | 1,001 | 89 | — | 1,090 | ||||||||||||||||||||||
Depreciation, depletion and amortization | 5 | — | — | 442 | 91 | — | 538 | ||||||||||||||||||||||
Other operating expenses | 12 | 38 | 1 | 685 | 168 | (13 | ) | 891 | |||||||||||||||||||||
Total operating costs, expenses and other | 17 | 38 | 1 | 2,128 | 348 | (13 | ) | 2,519 | |||||||||||||||||||||
Operating (loss) income | (8 | ) | (38 | ) | (1 | ) | 1,098 | 27 | — | 1,078 | |||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Earnings (losses) from consolidated subsidiaries | 605 | 883 | (23 | ) | 548 | 16 | (2,029 | ) | — | ||||||||||||||||||||
Earnings from equity investments | — | — | — | 76 | — | — | 76 | ||||||||||||||||||||||
Interest, net | (104 | ) | (27 | ) | (12 | ) | (355 | ) | (14 | ) | — | (512 | ) | ||||||||||||||||
Amortization of excess cost of equity investments and other, net | — | — | — | (3 | ) | 4 | — | 1 | |||||||||||||||||||||
Income (loss) before income taxes | 493 | 818 | (36 | ) | 1,364 | 33 | (2,029 | ) | 643 | ||||||||||||||||||||
Income tax expense | (64 | ) | (2 | ) | — | (157 | ) | (1 | ) | — | (224 | ) | |||||||||||||||||
Net income (loss) | 429 | 816 | (36 | ) | 1,207 | 32 | (2,029 | ) | 419 | ||||||||||||||||||||
Net loss attributable to noncontrolling interests | — | — | — | — | — | 10 | 10 | ||||||||||||||||||||||
Net income (loss) attributable to controlling interests | $ | 429 | $ | 816 | $ | (36 | ) | $ | 1,207 | $ | 32 | $ | (2,019 | ) | $ | 429 | |||||||||||||
Net Income | $ | 429 | $ | 816 | $ | (36 | ) | $ | 1,207 | $ | 32 | $ | (2,029 | ) | $ | 419 | |||||||||||||
Total other comprehensive loss | (176 | ) | (238 | ) | — | (295 | ) | (164 | ) | 697 | (176 | ) | |||||||||||||||||
Comprehensive income (loss) | 253 | 578 | (36 | ) | 912 | (132 | ) | (1,332 | ) | 243 | |||||||||||||||||||
Comprehensive loss attributable to noncontrolling interests | — | — | — | — | — | 10 | 10 | ||||||||||||||||||||||
Comprehensive income (loss) attributable to controlling interests | $ | 253 | $ | 578 | $ | (36 | ) | $ | 912 | $ | (132 | ) | $ | (1,322 | ) | $ | 253 | ||||||||||||
Condensed Consolidating Statements of Income and Comprehensive Income | |||||||||||||||||||||||||||||
for the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Total Revenues | $ | 9 | $ | — | $ | — | $ | 3,630 | $ | 406 | $ | 2 | $ | 4,047 | |||||||||||||||
Operating costs, expenses and other | |||||||||||||||||||||||||||||
Costs of sales | — | — | — | 1,497 | 132 | 14 | 1,643 | ||||||||||||||||||||||
Depreciation, depletion and amortization | 5 | — | — | 399 | 92 | — | 496 | ||||||||||||||||||||||
Other operating expenses | 8 | 1 | 7 | 639 | 118 | (12 | ) | 761 | |||||||||||||||||||||
Total operating costs, expenses and other | 13 | 1 | 7 | 2,535 | 342 | 2 | 2,900 | ||||||||||||||||||||||
Operating (loss) income | (4 | ) | (1 | ) | (7 | ) | 1,095 | 64 | — | 1,147 | |||||||||||||||||||
Other income (expense) | |||||||||||||||||||||||||||||
Earnings from consolidated subsidiaries | 506 | 947 | 44 | 359 | 456 | (2,312 | ) | — | |||||||||||||||||||||
Earnings from equity investments | — | — | — | 99 | — | — | 99 | ||||||||||||||||||||||
Interest, net | (132 | ) | (24 | ) | (11 | ) | (250 | ) | (31 | ) | — | (448 | ) | ||||||||||||||||
Amortization of excess cost of equity investments and other, net | — | — | — | (7 | ) | 10 | — | 3 | |||||||||||||||||||||
Income before income taxes | 370 | 922 | 26 | 1,296 | 499 | (2,312 | ) | 801 | |||||||||||||||||||||
Income tax expense | (34 | ) | (3 | ) | — | (11 | ) | (152 | ) | — | (200 | ) | |||||||||||||||||
Net income | 336 | 919 | 26 | 1,285 | 347 | (2,312 | ) | 601 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | (49 | ) | (69 | ) | — | — | — | (196 | ) | (314 | ) | ||||||||||||||||||
Net income attributable to controlling interests | $ | 287 | $ | 850 | $ | 26 | $ | 1,285 | $ | 347 | $ | (2,508 | ) | $ | 287 | ||||||||||||||
Net Income | $ | 336 | $ | 919 | $ | 26 | $ | 1,285 | $ | 347 | $ | (2,312 | ) | $ | 601 | ||||||||||||||
Total other comprehensive loss | (49 | ) | (118 | ) | — | (146 | ) | (110 | ) | 329 | (94 | ) | |||||||||||||||||
Comprehensive income | 287 | 801 | 26 | 1,139 | 237 | (1,983 | ) | 507 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (38 | ) | (68 | ) | — | — | — | (152 | ) | (258 | ) | ||||||||||||||||||
Comprehensive income attributable to controlling interests | $ | 249 | $ | 733 | $ | 26 | $ | 1,139 | $ | 237 | $ | (2,135 | ) | $ | 249 | ||||||||||||||
Condensed Balance Sheet [Table Text Block] | Condensed Consolidating Balance Sheets as of March 31, 2015 | ||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | Adjustments | ||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 13 | $ | 15 | $ | — | $ | 40 | $ | 191 | $ | — | $ | 259 | |||||||||||||||
Other current assets - affiliates | 3,138 | 1,833 | 18 | 12,665 | 574 | (18,228 | ) | — | |||||||||||||||||||||
All other current assets | 202 | 153 | 1 | 2,354 | 333 | (13 | ) | 3,030 | |||||||||||||||||||||
Property, plant and equipment, net | 277 | — | 1 | 31,462 | 8,549 | — | 40,289 | ||||||||||||||||||||||
Investments | 16 | 2 | — | 5,885 | 108 | — | 6,011 | ||||||||||||||||||||||
Investments in subsidiaries | 32,381 | 31,011 | 1,888 | 17,741 | 3,324 | (86,345 | ) | — | |||||||||||||||||||||
Goodwill | 15,089 | 22 | 920 | 5,688 | 3,188 | — | 24,907 | ||||||||||||||||||||||
Notes receivable from affiliates | 4,590 | 22,593 | — | 2,256 | 323 | (29,762 | ) | — | |||||||||||||||||||||
Deferred tax assets | — | — | — | 9,159 | — | (3,614 | ) | 5,545 | |||||||||||||||||||||
Other non-current assets | 310 | 449 | — | 5,236 | 128 | — | 6,123 | ||||||||||||||||||||||
Total assets | $ | 56,016 | $ | 56,078 | $ | 2,828 | $ | 92,486 | $ | 16,718 | $ | (137,962 | ) | $ | 86,164 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Current portion of debt | $ | 963 | $ | 875 | $ | — | $ | 1,471 | $ | 126 | $ | — | $ | 3,435 | |||||||||||||||
Other current liabilities - affiliates | 551 | 13,417 | 276 | 3,343 | 641 | (18,228 | ) | — | |||||||||||||||||||||
All other current liabilities | 302 | 224 | 16 | 2,105 | 715 | (13 | ) | 3,349 | |||||||||||||||||||||
Long-term debt | 13,965 | 20,271 | 384 | 6,510 | 694 | — | 41,824 | ||||||||||||||||||||||
Notes payable to affiliates | 2,542 | 448 | 606 | 24,784 | 1,382 | (29,762 | ) | — | |||||||||||||||||||||
Deferred income taxes | 2,126 | — | 2 | — | 1,486 | (3,614 | ) | — | |||||||||||||||||||||
All other long-term liabilities and deferred credits | 538 | 175 | — | 989 | 495 | — | 2,197 | ||||||||||||||||||||||
Total liabilities | 20,987 | 35,410 | 1,284 | 39,202 | 5,539 | (51,617 | ) | 50,805 | |||||||||||||||||||||
Stockholders’ equity | |||||||||||||||||||||||||||||
Total KMI equity | 35,029 | 20,668 | 1,544 | 53,284 | 11,179 | (86,675 | ) | 35,029 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 330 | 330 | ||||||||||||||||||||||
Total stockholders’ equity | 35,029 | 20,668 | 1,544 | 53,284 | 11,179 | (86,345 | ) | 35,359 | |||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 56,016 | $ | 56,078 | $ | 2,828 | $ | 92,486 | $ | 16,718 | $ | (137,962 | ) | $ | 86,164 | ||||||||||||||
Condensed Consolidating Balance Sheets as of December 31, 2014 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | Adjustments | ||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 4 | $ | 15 | $ | — | $ | 17 | $ | 279 | $ | — | $ | 315 | |||||||||||||||
Other current assets - affiliates | 1,868 | 1,335 | 11 | 11,573 | 403 | (15,190 | ) | — | |||||||||||||||||||||
All other current assets | 397 | 152 | 3 | 2,547 | 358 | (20 | ) | 3,437 | |||||||||||||||||||||
Property, plant and equipment, net | 263 | — | 5 | 29,490 | 8,806 | — | 38,564 | ||||||||||||||||||||||
Investments | 16 | 1 | — | 5,910 | 109 | — | 6,036 | ||||||||||||||||||||||
Investments in subsidiaries | 31,372 | 33,414 | 1,911 | 17,868 | 3,337 | (87,902 | ) | — | |||||||||||||||||||||
Goodwill | 15,087 | 22 | 920 | 5,419 | 3,206 | — | 24,654 | ||||||||||||||||||||||
Notes receivable from affiliates | 4,459 | 19,832 | — | 2,415 | 496 | (27,202 | ) | — | |||||||||||||||||||||
Deferred tax assets | — | — | — | 9,256 | — | (3,605 | ) | 5,651 | |||||||||||||||||||||
Other non-current assets | 287 | 360 | — | 3,782 | 112 | — | 4,541 | ||||||||||||||||||||||
Total assets | $ | 53,753 | $ | 55,131 | $ | 2,850 | $ | 88,277 | $ | 17,106 | $ | (133,919 | ) | $ | 83,198 | ||||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Current portion of debt | $ | 1,486 | $ | 699 | $ | — | $ | 381 | $ | 151 | $ | — | $ | 2,717 | |||||||||||||||
Other current liabilities - affiliates | 709 | 11,949 | 115 | 1,551 | 866 | (15,190 | ) | — | |||||||||||||||||||||
All other current liabilities | 319 | 498 | 12 | 1,812 | 1,024 | (20 | ) | 3,645 | |||||||||||||||||||||
Long-term debt | 11,862 | 20,675 | 386 | 6,609 | 714 | — | 40,246 | ||||||||||||||||||||||
Notes payable to affiliates | 2,619 | 153 | 753 | 22,437 | 1,240 | (27,202 | ) | — | |||||||||||||||||||||
Deferred income taxes | 2,099 | — | 2 | — | 1,504 | (3,605 | ) | — | |||||||||||||||||||||
Other long-term liabilities and deferred credits | 583 | 78 | 2 | 987 | 514 | — | 2,164 | ||||||||||||||||||||||
Total liabilities | 19,677 | 34,052 | 1,270 | 33,777 | 6,013 | (46,017 | ) | 48,772 | |||||||||||||||||||||
Stockholders’ equity | |||||||||||||||||||||||||||||
Total KMI equity | 34,076 | 21,079 | 1,580 | 54,500 | 11,093 | (88,252 | ) | 34,076 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 350 | 350 | ||||||||||||||||||||||
Total stockholders’ equity | 34,076 | 21,079 | 1,580 | 54,500 | 11,093 | (87,902 | ) | 34,426 | |||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 53,753 | $ | 55,131 | $ | 2,850 | $ | 88,277 | $ | 17,106 | $ | (133,919 | ) | $ | 83,198 | ||||||||||||||
Condensed Cash Flow Statement [Table Text Block] | Condensed Consolidating Statements of Cash Flows for the Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (224 | ) | $ | 3,675 | $ | 139 | $ | 424 | $ | (167 | ) | $ | (2,591 | ) | $ | 1,256 | ||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Funding to affiliates | (246 | ) | (4,664 | ) | — | (1,432 | ) | (98 | ) | 6,440 | — | ||||||||||||||||||
Capital expenditures | (18 | ) | — | (2 | ) | (786 | ) | (95 | ) | 4 | (897 | ) | |||||||||||||||||
Contributions to investments | — | — | — | (30 | ) | — | — | (30 | ) | ||||||||||||||||||||
Investment in KMP | (159 | ) | — | — | — | — | 159 | — | |||||||||||||||||||||
Acquisitions of assets and investments | (1,709 | ) | — | — | (155 | ) | — | — | (1,864 | ) | |||||||||||||||||||
Distributions from equity investments in excess of cumulative earnings | 14 | — | — | 36 | — | — | 50 | ||||||||||||||||||||||
Other, net | — | (31 | ) | 4 | 4 | (7 | ) | (4 | ) | (34 | ) | ||||||||||||||||||
Net cash (used in) provided by investing activities | (2,118 | ) | (4,695 | ) | 2 | (2,363 | ) | (200 | ) | 6,599 | (2,775 | ) | |||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Issuance of debt | 7,136 | — | — | — | — | — | 7,136 | ||||||||||||||||||||||
Payment of debt | (5,967 | ) | (300 | ) | — | (36 | ) | (2 | ) | — | (6,305 | ) | |||||||||||||||||
Funding from (to) affiliates | 534 | 2,311 | (141 | ) | 3,400 | 336 | (6,440 | ) | — | ||||||||||||||||||||
Debt issuance costs | (16 | ) | — | — | — | — | — | (16 | ) | ||||||||||||||||||||
Issuances of shares | 1,626 | — | — | — | — | — | 1,626 | ||||||||||||||||||||||
Cash dividends | (962 | ) | — | — | — | — | — | (962 | ) | ||||||||||||||||||||
Contributions from parents | — | 156 | — | 3 | — | (159 | ) | — | |||||||||||||||||||||
Distributions to parents | — | (1,147 | ) | — | (1,404 | ) | (50 | ) | 2,601 | — | |||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | — | — | (10 | ) | (10 | ) | ||||||||||||||||||||
Other, net | — | — | — | (1 | ) | — | — | (1 | ) | ||||||||||||||||||||
Net cash provided by (used in) financing activities | 2,351 | 1,020 | (141 | ) | 1,962 | 284 | (4,008 | ) | 1,468 | ||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | (5 | ) | — | (5 | ) | ||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 9 | — | — | 23 | (88 | ) | — | (56 | ) | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | 4 | 15 | — | 17 | 279 | — | 315 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 13 | $ | 15 | $ | — | $ | 40 | $ | 191 | $ | — | $ | 259 | |||||||||||||||
Condensed Consolidating Statements of Cash Flows for the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
(In Millions) | |||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||
Parent | Subsidiary | Subsidiary | Subsidiary | Subsidiary | Consolidating Adjustments | Consolidated KMI | |||||||||||||||||||||||
Issuer and | Issuer and | Issuer and | Guarantors | Non-Guarantors | |||||||||||||||||||||||||
Guarantor | Guarantor - | Guarantor - | |||||||||||||||||||||||||||
KMP | Copano | ||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 438 | $ | 1,435 | $ | 79 | $ | 740 | $ | 214 | $ | (1,788 | ) | $ | 1,118 | ||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Funding to affiliates | (64 | ) | (2,986 | ) | — | (1,168 | ) | (210 | ) | 4,428 | — | ||||||||||||||||||
Capital expenditures | (15 | ) | — | (27 | ) | (599 | ) | (204 | ) | — | (845 | ) | |||||||||||||||||
Contributions to investments | — | (76 | ) | — | (36 | ) | — | 76 | (36 | ) | |||||||||||||||||||
Investment in KMP | (11 | ) | — | — | — | — | 11 | — | |||||||||||||||||||||
Acquisitions of assets and investments | — | — | — | (990 | ) | — | — | (990 | ) | ||||||||||||||||||||
Distributions from equity investments in excess of cumulative earnings | 10 | 156 | — | 38 | — | (166 | ) | 38 | |||||||||||||||||||||
Other, net | — | (22 | ) | — | 23 | 13 | — | 14 | |||||||||||||||||||||
Net cash used in investing activities | (80 | ) | (2,928 | ) | (27 | ) | (2,732 | ) | (401 | ) | 4,349 | (1,819 | ) | ||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Issuance of debt | 643 | 4,548 | — | — | — | — | 5,191 | ||||||||||||||||||||||
Payment of debt | (491 | ) | (3,618 | ) | — | (73 | ) | (2 | ) | — | (4,184 | ) | |||||||||||||||||
Funding from (to) affiliates | 39 | 1,010 | (53 | ) | 3,280 | 152 | (4,428 | ) | — | ||||||||||||||||||||
Debt issuance costs | (2 | ) | (10 | ) | — | — | — | — | (12 | ) | |||||||||||||||||||
Cash dividends | (425 | ) | — | — | — | — | — | (425 | ) | ||||||||||||||||||||
Repurchases of shares and warrants | (149 | ) | — | — | — | — | — | (149 | ) | ||||||||||||||||||||
Contributions from parents | — | 661 | — | 83 | 24 | (768 | ) | — | |||||||||||||||||||||
Contributions from noncontrolling interests | — | — | — | — | — | 684 | 684 | ||||||||||||||||||||||
Distributions to parents | — | (1,080 | ) | — | (1,310 | ) | (39 | ) | 2,429 | — | |||||||||||||||||||
Distributions to noncontrolling interests | — | — | — | — | — | (479 | ) | (479 | ) | ||||||||||||||||||||
Other, net | — | (2 | ) | — | 1 | — | 1 | — | |||||||||||||||||||||
Net cash (used in) provided by financing activities | (385 | ) | 1,509 | (53 | ) | 1,981 | 135 | (2,561 | ) | 626 | |||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | (10 | ) | — | (10 | ) | ||||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | (27 | ) | 16 | (1 | ) | (11 | ) | (62 | ) | — | (85 | ) | |||||||||||||||||
Cash and cash equivalents, beginning of period | 83 | 88 | 1 | 17 | 409 | — | 598 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 56 | $ | 104 | $ | — | $ | 6 | $ | 347 | $ | — | $ | 513 | |||||||||||||||
General_Organization_Details
General Organization (Details) (USD $) | 0 Months Ended | 3 Months Ended | 11 Months Ended | |
Nov. 25, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Nov. 25, 2014 | |
General [Line Items] | ||||
Loss on impairments of equity investments | $26,000,000 | $0 | ||
Enterprise Market Value | 130,000,000,000 | |||
Miles Of Pipeline | 84,000 | |||
Number Of Pipeline Terminals Owned Interest In And Or Operated | 180 | |||
Loss on impairments of long-lived assets and equity investments | 77,000,000 | 0 | ||
Other Significant Noncash Transaction, Value of Consideration Given | 77,000,000,000 | |||
KMP [Member] | ||||
General [Line Items] | ||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 10.00% | |||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 2.00% | |||
EPB [Member] | ||||
General [Line Items] | ||||
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest | 39.00% | |||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 2.00% | |||
Natural Gas Pipelines [Member] | ||||
General [Line Items] | ||||
Loss on impairments of long-lived assets and equity investments | 77,000,000 | |||
Natural Gas Pipelines [Member] | Fort Union Gas Gathering L.L.C. and Bighorn Gas Gathering L.L.C. [Member] | ||||
General [Line Items] | ||||
Loss on impairments of equity investments | $26,000,000 |
General_Basis_of_Presentation_
General Basis of Presentation (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Loss on impairments of long-lived assets and equity investments | $77 | $0 |
Natural Gas Pipelines [Member] | ||
Segment Reporting Information [Line Items] | ||
Loss on impairments of long-lived assets and equity investments | 77 | |
Loss on impairments of long-lived assets | $51 |
General_Earnings_Per_Share_Det
General Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Net Income Attributable to Kinder Morgan, Inc. | $429 | $287 |
Incremental Common Shares Attributable to Dilutive Effect of Warrants | 10 | 0 |
Diluted Weighted-Average Number of Shares Outstanding | 2,151 | 1,029 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $40 | |
Class P [Member] | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Net (loss) income attributable to Kinder Morgan, Inc. | 426 | 284 |
Basic Weighted-Average Number of Shares Outstanding | 2,141 | 1,029 |
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 | $3 |
Restricted Stock [Member] | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 7 | 7 |
Warrant [Member] | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 289 | 341 |
Convertible Preferred Stock [Member] | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 9 | 10 |
General_Recent_Developments_De
General Recent Developments (Details) (Kinder Morgan, Inc. [Member], USD $) | 3 Months Ended |
In Billions, unless otherwise specified | Mar. 31, 2015 |
Kinder Morgan, Inc. [Member] | |
Business Acquisition [Line Items] | |
Line of Credit Facility, Current Borrowing Capacity | $4 |
Debt Instrument, Term | 5 years |
Acquisitions_Acquisitions_Hila
Acquisitions Acquisitions Hiland (Details) (USD $) | 3 Months Ended | 0 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Feb. 13, 2015 |
Business Acquisition [Line Items] | |||
Repayments of Debt | $6,305 | $4,184 | |
Hiland Partners, LP [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Consideration Transferred | 3,120 | ||
Repayments of Debt | 368 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $1,507 |
Acquisitions_Acquisitions_Vopa
Acquisitions Acquisitions Vopak (Details) (Royal Vopak assets [Member], USD $) | 0 Months Ended | 3 Months Ended |
In Millions, unless otherwise specified | Feb. 27, 2015 | Mar. 31, 2015 |
Business Acquisition [Line Items] | ||
Number of terminals | 3 | |
Number of Real Estate Properties | 1 | |
Payments to Acquire Businesses, Gross | $158 | $158 |
Galena Park, Texas [Member] | ||
Business Acquisition [Line Items] | ||
Area of Land (acres) | 36 | |
Storage Capacity (barrels) | 1,069,500 | |
NORTH CAROLINA | ||
Business Acquisition [Line Items] | ||
Number of terminals | 2 | |
North Wilmington, North Carolina [Member] | ||
Business Acquisition [Line Items] | ||
Number of terminals | 1 | |
South Wilmington, North Carolina [Member] | ||
Business Acquisition [Line Items] | ||
Number of terminals | 1 |
Acquisitions_Purchase_Price_Al
Acquisitions Purchase Price Allocation (Details) (USD $) | 3 Months Ended | 0 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Feb. 27, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | |||
Goodwill | $24,907 | $24,654 | |
Hiland Partners, LP [Member] | |||
Business Acquisition [Line Items] | |||
Current assets | 44 | ||
Property, plant, and equipment | 1,521 | ||
Goodwill | 238 | ||
Other intangibles | 1,507 | ||
Total assets acquired | 3,310 | ||
Current liabilities | -187 | ||
Debt | -1,411 | ||
Other liabilities | -3 | ||
Cash consideration | 1,709 | ||
Finite-Lived Intangible Asset, Useful Life | 16 years 5 months | ||
Royal Vopak assets [Member] | |||
Business Acquisition [Line Items] | |||
Current assets | 3 | ||
Property, plant, and equipment | 131 | ||
Goodwill | 29 | ||
Other intangibles | 0 | ||
Total assets acquired | 163 | ||
Current liabilities | -2 | ||
Debt | 0 | ||
Other liabilities | -3 | ||
Cash consideration | $158 | $158 |
Debt_Details
Debt (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Dec. 31, 2014 | Feb. 13, 2015 | Jan. 01, 2015 | |
Debt Instrument [Line Items] | ||||
Preferred interest in general partner of KMP | $100,000,000 | $100,000,000 | ||
Current portion of debt | 3,435,000,000 | 2,717,000,000 | ||
Total long-term debt | 41,824,000,000 | 40,246,000,000 | ||
Debt fair value adjustments | 2,091,000,000 | 1,934,000,000 | ||
Kinder Morgan, Inc. [Member] | KMI Senior Notes,1.50% through 8.25%, due 2015 through 2098 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 13,330,000,000 | 11,438,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 1.50% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 8.25% | |||
Kinder Morgan, Inc. [Member] | Senior unsecured revolving credit facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Line of Credit | 600,000,000 | 850,000,000 | ||
Kinder Morgan, Inc. [Member] | Commercial Paper [Member] | ||||
Debt Instrument [Line Items] | ||||
Commercial Paper | 296,000,000 | 386,000,000 | ||
Kinder Morgan, Inc. [Member] | Revolving Credit Facility [Member] | KMI Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt, Weighted Average Interest Rate | 1.56% | 1.54% | ||
Kinder Morgan Energy Partners, L.P. [Member] | KMP Senior notes, 2.65% through 9.00%, due 2015 through 2044 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 20,360,000,000 | 20,660,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 2.65% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 9.00% | |||
TGP [Member] | KMP Senior notes, 7.00% through 8.375%, due 2016 through 2037 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 1,790,000,000 | 1,790,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 7.00% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 8.38% | |||
EPNG [Member] | KMP 5.95% through 8.625%, due 2017 through 2032 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 1,115,000,000 | 1,115,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.95% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 8.63% | |||
Copano Energy, L.L.C. [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | 332,000,000 | 332,000,000 | ||
Total long-term debt | 384,000,000 | 386,000,000 | ||
Copano Energy, L.L.C. [Member] | KMP 7.125% Senior Notes due April 1, 2021 (Copano) [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 332,000,000 | 332,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 7.13% | |||
Colorado Interstate Gas Company, L.L.C. [Member] | KMP Notes, 5.95% through 6.85%, due 2015 through 2037 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 440,000,000 | 475,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.95% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.85% | |||
SNG [Member] | KMP Notes, 4.40% through 8.00%, due 2017 through 2032 [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | 1,211,000,000 | 1,211,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 4.40% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 8.00% | |||
Kinder Morgan Finance Company, LLC [Member] | KMI 5.70% through 6.40% series, due 2016 through 2036 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 1,636,000,000 | 1,636,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.70% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.40% | |||
Hiland Partners Holdings LLC [Member] | KMI Senior Notes, 5.50% and 7.25%, due 2020 and 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 975,000,000 | 0 | 975,000,000 | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.50% | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.25% | |||
EPC Building LLC [Member] | KMI Promissory note 3.967%, due 2015 through 2035 [Member] [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | 450,000,000 | 453,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.97% | |||
Capital Trust I [Member] | KMI EP Capital Trust I 4.75%, due 2028 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 232,000,000 | 280,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | |||
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 interest in general partner of KMP | 100,000,000 | 100,000,000 | ||
Liquidation value of note | $1,000 | |||
KMI AND KMP [Member] | Other Miscellaneous Subsidiary Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes Payable | 301,000,000 | 303,000,000 | ||
Kinder Morgan, Inc and Subsidiaries [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt | 43,168,000,000 | 41,029,000,000 | ||
Total long-term debt | 39,733,000,000 | 38,312,000,000 | ||
Financial Guarantee [Member] | Kinder Morgan Energy Partners, L.P. [Member] | ||||
Debt Instrument [Line Items] | ||||
Indemnified by parent of subsidiary debt | $2,900,000,000 | |||
Euro Member Countries, Euro | Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Foreign Currency Exchange Rate, Translation | 1.0731 | 1.086 |
Debt_Credit_Facilities_Details
Debt Credit Facilities (Details) (Kinder Morgan, Inc. [Member], USD $) | 3 Months Ended | 0 Months Ended | |
Mar. 31, 2015 | Feb. 13, 2015 | Dec. 31, 2014 | |
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Current Borrowing Capacity | $4,000,000,000 | ||
Debt Instrument, Term | 5 years | ||
Line of Credit Facility, Remaining Borrowing Capacity | 2,976,000,000 | ||
Letters of Credit Outstanding, Amount | 128,000,000 | ||
Senior unsecured revolving credit facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Long-term Line of Credit | 600,000,000 | 850,000,000 | |
Commercial Paper [Member] | |||
Line of Credit Facility [Line Items] | |||
Commercial Paper | 296,000,000 | 386,000,000 | |
Commercial Paper, Current Borrowing Capacity | 4,000,000,000 | ||
Bridge Loan [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Term | 6 months | ||
Line of Credit Facility, Maximum Amount Outstanding During Period | $1,641,000,000 |
Debt_Hiland_Debt_Acquired_Deta
Debt Hiland Debt Acquired (Details) (USD $) | 3 Months Ended | 0 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Feb. 13, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||||
Repayments of Debt | $6,305 | $4,184 | ||
Hiland Partners Holdings LLC [Member] | KMI Senior Notes, 5.50% and 7.25%, due 2020 and 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior Notes | 975 | 975 | 0 | |
KMI Acquisition of Hiland Partners Holding LLC [Member] | Hiland Partners Holdings LLC [Member] | KMI Senior Notes, 5.50% and 7.25%, due 2020 and 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Fair Value Disclosure | 1,043 | |||
Hiland Partners, LP [Member] | ||||
Debt Instrument [Line Items] | ||||
Repayments of Debt | $368 |
Debt_Issuances_and_Repaymenrts
Debt Issuances and Repaymenrts (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Feb. 13, 2015 |
Debt Instrument [Line Items] | |||
Repayments of Debt | $6,305 | $4,184 | |
Kinder Morgan, Inc. [Member] | KMI 5.05% Senior Notes Due 2046 [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from Issuance of Long-term Debt | 800 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.05% | ||
Kinder Morgan, Inc. [Member] | KMI 1.50% Senior Notes Due 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from Issuance of Long-term Debt | 815 | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.50% | ||
Kinder Morgan, Inc. [Member] | KMI 2.25% Senior Notes Due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Proceeds from Issuance of Long-term Debt | 543 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% | ||
Kinder Morgan, Inc. [Member] | KMI 5.15% Senior Notes due March 1, 2015 [Member] | |||
Debt Instrument [Line Items] | |||
Repayments of Debt | 250 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.15% | ||
Kinder Morgan Energy Partners, L.P. [Member] | KMP 5.625% Senior Notes due February 15, 2015 [Member] | |||
Debt Instrument [Line Items] | |||
Repayments of Debt | $300 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.63% | ||
Euro Member Countries, Euro | Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Foreign Currency Exchange Rate, Translation | 1.0731 | 1.086 |
Stockholders_Equity_Common_Equ
Stockholders' Equity Common Equity (Details) (USD $) | 3 Months Ended | 0 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Apr. 16, 2015 | Apr. 06, 2015 | Dec. 19, 2014 |
Class of Stock [Line Items] | |||||
Stock Issued During Period, Value, New Issues | $1,626 | ||||
Class P [Member] | |||||
Class of Stock [Line Items] | |||||
Stock Issued During Period, Shares, New Issues | 39,000,000 | ||||
Dividends Per Common Share Declared for the Period | $0.48 | $0.42 | |||
Common Stock, Dividends, Per Share, Cash Paid | $0.45 | $0.41 | |||
Dividend Declared [Member] | |||||
Class of Stock [Line Items] | |||||
Dividends Per Common Share Declared for the Period | $0.48 | ||||
Equity distribution agreement [Member] | Class P [Member] | |||||
Class of Stock [Line Items] | |||||
Value of Stock Available for Sale Under Equity Distribution Agreement | 5,000 | ||||
Stock Issued During Period, Shares, New Issues | 39,398,245 | ||||
Sold Shares of Class P Stock | 39,398,245 | ||||
Stock Issued During Period, Value, New Issues | $1,738 | ||||
Equity distribution agreement [Member] | Subsequent Event [Member] | Class P [Member] | |||||
Class of Stock [Line Items] | |||||
Stock Issued During Period, Shares, New Issues | 2,692,672 |
Risk_Management_Energy_Commodi
Risk Management Energy Commodity Price Risk Management (Details) (Energy Related Derivative [Member], Forward Contracts [Member]) | Mar. 31, 2015 |
MMBbls | |
Crude Oil Fixed Price [Member] | Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -12.8 |
Crude Oil Fixed Price [Member] | Not Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -14.2 |
Crude Oil Basis [Member] | Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -12.1 |
Crude Oil Basis [Member] | Not Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -0.3 |
Natural Gas Fixed Price [Member] | Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -50.7 |
Natural Gas Fixed Price [Member] | Not Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -17.9 |
Natural Gas Basis [Member] | Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -25.9 |
Natural Gas Basis [Member] | Not Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -16.5 |
Natural Gas Liquids Fixed Price [Member] | Not Designated as Hedging Instrument [Member] | |
Derivative [Line Items] | |
Net open position long/(short) | -52.7 |
Risk_Management_Interest_Rate_
Risk Management Interest Rate Risk Management (Details) (Interest Rate Swap [Member], USD $) | 1 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 30, 2015 |
Derivative [Line Items] | |||
Derivative, Notional Amount | $9,700 | $9,200 | |
KMI 5.625% Senior Notes due November 15, 2023 [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 600 | ||
Number of Fixed-to-Variable Interest Rate Swap Agreements Entered Into | $0 | ||
Interest rate, stated percentage | 5.63% |
Risk_Management_Risk_Managemen
Risk Management Risk Management Foreign Currency Risk Management (Details) | 3 Months Ended |
Mar. 31, 2015 | |
KMI 1.50% Senior Notes Due 2022 [Member] | Currency Swap [Member] | |
Derivative [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 3.79% |
KMI 2.25% Senior Notes Due 2027 [Member] | Currency Swap [Member] | |
Derivative [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 4.67% |
Kinder Morgan, Inc. [Member] | |
Derivative [Line Items] | |
Debt Instrument, Term | 5 years |
Kinder Morgan, Inc. [Member] | KMI 1.50% Senior Notes Due 2022 [Member] | |
Derivative [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 1.50% |
Debt Instrument, Term | 7 years |
Kinder Morgan, Inc. [Member] | KMI 2.25% Senior Notes Due 2027 [Member] | |
Derivative [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 2.25% |
Debt Instrument, Term | 12 years |
Risk_Management_Fair_Value_of_
Risk Management Fair Value of Derivative Contracts (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Designated as Hedging Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | $862 | $718 |
Derivative Liability, Fair Value, Net | -124 | -87 |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 1,109 | 997 |
Derivative Liability, Fair Value, Net | -186 | -162 |
Energy Related Derivative [Member] | Designated as Hedging Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 362 | 315 |
Derivative Liability, Fair Value, Net | -65 | -34 |
Energy Related Derivative [Member] | Designated as Hedging Contracts [Member] | Fair Value of Derivatives Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 318 | 309 |
Energy Related Derivative [Member] | Designated as Hedging Contracts [Member] | Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -63 | -34 |
Energy Related Derivative [Member] | Designated as Hedging Contracts [Member] | Non-current-Fair value of derivative contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 44 | 6 |
Energy Related Derivative [Member] | Designated as Hedging Contracts [Member] | Other Long-Term Liabilities and Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -2 | 0 |
Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 236 | 269 |
Derivative Liability, Fair Value, Net | -2 | -2 |
Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Fair Value of Derivatives Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 62 | 73 |
Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -1 | -2 |
Energy Related Derivative [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 | 174 | 196 |
Energy Related Derivative [Member] | Not Designated as Hedging Instrument [Member] | Other Long-Term Liabilities and Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -1 | 0 |
Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 500 | 403 |
Derivative Liability, Fair Value, Net | -5 | -53 |
Currency Swap [Member] | Designated as Hedging Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 0 | 0 |
Derivative Liability, Fair Value, Net | -54 | 0 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 11 | 10 |
Derivative Liability, Fair Value, Net | -60 | -73 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | Fair Value of Derivatives Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 10 | 10 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -56 | -57 |
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 | 1 | 0 |
Power Derivative Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Long-Term Liabilities and Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -4 | -16 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 247 | 279 |
Derivative Liability, Fair Value, Net | -62 | -75 |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | Fair Value of Derivatives Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 171 | 143 |
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 | 329 | 260 |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Contracts [Member] | Other Long-Term Liabilities and Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -5 | -53 |
Fair Value Hedging [Member] | Currency Swap [Member] | Designated as Hedging Contracts [Member] | Fair Value of Derivatives Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 0 | 0 |
Fair Value Hedging [Member] | Currency Swap [Member] | Designated as Hedging Contracts [Member] | Other Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | -31 | 0 |
Fair Value Hedging [Member] | Currency 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 | 0 | 0 |
Fair Value Hedging [Member] | Currency Swap [Member] | Designated as Hedging Contracts [Member] | Other Long-Term Liabilities and Deferred Credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | ($23) | $0 |
Risk_Management_Effect_of_Deri
Risk Management Effect of Derivative Contracts on the Income Statement (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Energy Related Derivative [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $46 | $0 |
Derivative, Loss on Derivative | 5 | |
Energy Related Derivative [Member] | Natural Gas Revenue [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 4 | -7 |
Energy Related Derivative [Member] | Revenues - Product sales and other [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 45 | -1 |
Energy Related Derivative [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 | 10 |
Energy Related Derivative [Member] | Other Income (Expense) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | -2 |
Designated as Hedging Instrument [Member] | Operating Income (Loss) [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | 72 | -14 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 7 | -5 |
Designated as Hedging Instrument [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) | -2 | -45 |
Designated as Hedging Instrument [Member] | 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 | 145 | 55 |
Designated as Hedging Instrument [Member] | 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) | -1 | 0 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 0 | 0 |
Designated as Hedging Instrument [Member] | 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) | -3 | -2 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Interest expense [Member] | Fair Value Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of gain/(loss) recognized in income on derivative | -139 | -55 |
Designated as Hedging Instrument [Member] | Energy Related Derivative [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Loss to be reclassified within twelve months | 175 | |
Designated as Hedging Instrument [Member] | Energy Related Derivative [Member] | Natural Gas Revenue [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | 24 | -9 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 0 | 0 |
Designated as Hedging Instrument [Member] | Energy Related Derivative [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) | 64 | -6 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 7 | -5 |
Designated as Hedging Instrument [Member] | Energy Related Derivative [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 | 1 |
Amount of gain/(loss)recognized in incomeon derivative(ineffective portionand amountexcluded fromeffectiveness testing) | 0 | 0 |
Designated as Hedging Instrument [Member] | Energy Related Derivative [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) | 35 | -43 |
Designated as Hedging Instrument [Member] | Currency 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) | -34 | 0 |
Designated as Hedging Instrument [Member] | Other Credit Derivatives [Member] | Other Expense [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of gain/(loss)reclassified fromAccumulated OCIinto income(effective portion) | ($10) | $0 |
Risk_Management_Credit_Risks_D
Risk Management Credit Risks (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Energy Related Derivative [Member] | ||
Credit Derivatives [Line Items] | ||
Letters of Credit Outstanding, Amount | $20,000,000 | $20,000,000 |
Energy Related Derivative [Member] | One notch credit downgrade [Member] | ||
Credit Derivatives [Line Items] | ||
Additional Collateral, Aggregate Fair Value | 1,000,000 | |
Energy Related Derivative [Member] | Two notch credit downgrade [Member] | ||
Credit Derivatives [Line Items] | ||
Additional Collateral, Aggregate Fair Value | 0 | |
Contract and Over the Counter [Member] | Interest Rate Swap [Member] | ||
Credit Derivatives [Line Items] | ||
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Contract and Over the Counter [Member] | Energy Related Derivative [Member] | ||
Credit Derivatives [Line Items] | ||
Derivative, Collateral, Right to Reclaim Cash | $44,000,000 | $47,000,000 |
Risk_Management_Reporting_of_A
Risk Management Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
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 | $327 | ($3) |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -108 | 2 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -236 | -23 |
Accumulated other comprehensive loss | -17 | -24 |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax Portion Attributable To Parent | -2 | -19 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | -72 | 6 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -74 | -13 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -108 | -25 |
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), Foreign Currency Transaction and Translation Adjustment and Impact of Merger Transactions, Net of Tax, Portion Attributable to Parent | -108 | -25 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax | 6 | 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 | 6 | 0 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | -176 | -38 |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 253 | -16 |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -216 | -23 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -230 | -23 |
Accumulated other comprehensive loss | -193 | -62 |
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 | -104 | -44 |
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 | ($72) | $6 |
Fair_Value_Fair_Value_of_Deriv
Fair Value Fair Value of Derivative Contracts (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Energy Related Derivative [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets | $609 | $594 | |
Derivative Liability | -127 | -109 | |
Fair Value, Assets Liabilites Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | -61 | -110 | |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | 0 | 7 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | -1 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements | 12 | 4 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | -49 | -100 | |
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) | 1 | 3 | |
Interest Rate Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets | 500 | 403 | |
Derivative Liability | -5 | -53 | |
Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability | -54 | ||
Quoted prices in active markets for identical assets (Level 1) [Member] | Energy Related Derivative [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets | 39 | 49 | |
Derivative Liability | -26 | -25 | |
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 | |
Derivative Liability | 0 | 0 | |
Quoted prices in active markets for identical assets (Level 1) [Member] | Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability | 0 | ||
Significant other observable inputs (Level 2) [Member] | Energy Related Derivative [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets | 559 | 533 | |
Derivative Liability | -41 | -11 | |
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 | 500 | 403 | |
Derivative Liability | -5 | -53 | |
Significant other observable inputs (Level 2) [Member] | Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability | -54 | ||
Significantunobservable inputs (Level 3) [Member] | Energy Related Derivative [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Assets | 11 | 12 | |
Derivative Liability | -60 | -73 | |
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 | |
Derivative Liability | 0 | 0 | |
Significantunobservable inputs (Level 3) [Member] | Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability | 0 | ||
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 | 539 | 535 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -13 | -16 | |
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 | 497 | 359 | |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -2 | -9 | |
Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -54 | ||
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 | -70 | -46 | |
Net Liability Adjustment for Financial Instruments Subject to Master Netting Agreement but Presented Gross | 70 | 46 | |
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 | -3 | -44 | |
Net Liability Adjustment for Financial Instruments Subject to Master Netting Agreement but Presented Gross | 3 | 44 | |
Not Offset on Balance Sheet [Member] | Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Net Liability Adjustment for Financial Instruments Subject to Master Netting Agreement but Presented Gross | 0 | ||
Contract and Over the Counter [Member] | Energy Related Derivative [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative, Collateral, Obligation to Return Cash | 0 | -13 | |
Derivative, Collateral, Right to Reclaim Cash | 44 | 47 | |
Contract and Over the Counter [Member] | Interest Rate Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative, Collateral, Obligation to Return Cash | 0 | 0 | |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 | |
Contract and Over the Counter [Member] | Currency Swap [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative, Collateral, Right to Reclaim Cash | $0 |
Fair_Value_Fair_Value_of_Finan
Fair Value Fair Value of Financial Instruments (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Instrument, Fair Value Disclosure | $46,480 | $43,582 |
Reported Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Instrument, Fair Value Disclosure | $45,259 | $42,963 |
Reportable_Segments_Details
Reportable Segments (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Segment Reporting Information [Line Items] | |||
Revenues | $3,597 | $4,047 | |
Segment earnings before DD&A | 1,902 | 1,906 | |
Depreciation, depletion and amortization | -538 | -496 | |
Amortization of excess cost of equity investments | -12 | -10 | |
Product sales and other | 842 | 1,121 | |
General and administrative expenses | -216 | -172 | |
Interest, net | -512 | -448 | |
Income Tax Expense (Benefit) | -224 | -200 | |
Net income | 419 | 601 | |
Assets | 86,164 | 83,198 | |
Assets held for sale | 29 | 56 | |
Natural Gas Pipelines [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,177 | 2,557 | |
Segment earnings before DD&A | 1,015 | 1,070 | |
Assets | 54,539 | 52,523 | |
CO2 [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 446 | 483 | |
Segment earnings before DD&A | 336 | 363 | |
Assets | 5,318 | 5,227 | |
Terminals [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 457 | 391 | |
Segment earnings before DD&A | 270 | 210 | |
Assets | 9,071 | 8,850 | |
Products Pipelines [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 444 | 534 | |
Segment earnings before DD&A | 246 | 208 | |
Assets | 8,364 | 7,179 | |
Kinder Morgan Canada [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 60 | 69 | |
Segment earnings before DD&A | 41 | 48 | |
Assets | 1,480 | 1,593 | |
All Other Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 4 | 4 | |
Segment earnings before DD&A | -6 | 7 | |
Assets | 443 | 459 | |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,591 | 4,042 | |
Assets | 79,215 | 75,831 | |
Unallocated [Member] | |||
Segment Reporting Information [Line Items] | |||
Product sales and other | 9 | 9 | |
Interest, net | -514 | -450 | |
Income Tax Expense (Benefit) | -212 | -186 | |
Corporate [Member] | |||
Segment Reporting Information [Line Items] | |||
Assets | 6,920 | 7,311 | |
Intersegment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | -3 | -4 | |
Intersegment Revenues [Member] | Natural Gas Pipelines [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues | $3 | $4 |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Benefit Plans (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $6 | $7 |
Interest cost | 24 | 27 |
Expected return on assets | -43 | -43 |
Amortization of prior service credits | 0 | 0 |
Amortization of net actuarial loss | 1 | 0 |
Net benefit plan credit | -12 | -9 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 0 | 0 |
Interest cost | 6 | 7 |
Expected return on assets | -6 | -6 |
Amortization of prior service credits | -1 | -1 |
Amortization of net actuarial loss | 0 | 0 |
Net benefit plan credit | ($1) | $0 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating Loss Carryforwards [Line Items] | ||
Income Tax Expense (Benefit) | $224 | $200 |
Effective tax rate | 34.80% | 25.00% |
Federal statutory income tax rate | 35.00% | 35.00% |
Florida Gas Pipeline [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Ownership interest | 50.00% | 50.00% |
Federal_Energy_Regulatory_Comm
Federal Energy Regulatory Commission Proceedings (Details) (Regulated Operation [Member], Federal Energy Regulatory Commission [Member], Various Shippers [Member], Unfavorable Regulatory Action [Member], USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
SFPP [Member] | Repreations, Refunds, and Rate Reductions [Member] | Pending Litigation [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency Period of Time Litigation Concerns | 2 years |
SFPP [Member] | Annual Rate Reductions [Member] | Pending Litigation [Member] | |
SFPP [Abstract] | |
Loss Contingency, Damages Sought, Value | 20 |
SFPP [Member] | Revenue Subject to Refund [Member] | Pending Litigation [Member] | |
SFPP [Abstract] | |
Loss Contingency, Damages Sought, Value | 110 |
2008 rate case and the 2010 rate case [Member] | EPNG [Member] | Opinion 517 issued and implemented (rehearing pending); and Opinion 528 issued and is awaiting filing of court document) [Member] | |
EPNG [Abstract] | |
Loss Contingency, Pending Claims, Number | 2 |
California_Public_Utilities_Co
California Public Utilities Commission Proceedings (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Loss Contingencies [Line Items] | ||
Accrued contingencies | $399 | $383 |
Regulated Operation [Member] | Revenue Subject to Refund [Member] | SFPP [Member] | Various Shippers [Member] | California Public Utilities Commission [Member] | Unfavorable Regulatory Action [Member] | Settled Litigation [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Damages Sought, Value | 319 | |
Letter of Credit [Member] | SFPP [Member] | California Public Utilities Commission [Member] | ||
Loss Contingencies [Line Items] | ||
Accrued contingencies | $100 |
Other_Commercial_Matters_Detai
Other Commercial Matters (Details) (USD $) | 9 Months Ended | 0 Months Ended | 3 Months Ended | 1 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Oct. 25, 2013 | Mar. 31, 2015 | Mar. 31, 2011 |
Plains Gas Solutions, LLC v. Tennessee Gas Pipeline Company, L.L.C. et al [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Damages Sought, Value | $100 | |||
Merger Transactions [Member] | Kinder Morgan Energy Partners, L.P. and El Paso Pipeline Partners, L.P. [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Pending Claims, Number | 5 | |||
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. [Member] | Pending Litigation [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Damages Sought, Value | 22.3 | |||
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. [Member] | Loss on Long-term Purchase Commitment [Member] | Pending Litigation [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Initial Award Amount, Annual Rent Payable | 14 | |||
SFPP, L.P. vs. UPRR on relocation costs [Member] | SFPP L.P. [Member] | Pending Litigation [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss contingency, settlement tentative by court, value | 42.5 | |||
Price Reporting Litigation [Member] | Kinder Morgan Bulk Terminals, Inc. [Member] | Price Reporting Litigation [Member] | Pending Litigation [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Damages Sought, Value | $140 | |||
EPB Acquisition of 25% Ownership Interest in SNG [Member] | Allen vs El Paso GP [Member] | El Paso Pipeline Partners, L.P. [Member] | SNG [Member] | ||||
Loss Contingencies [Line Items] | ||||
Business Acquisition, Additional Percentage of Interest Acquired | 25.00% | |||
2014 - 2023 [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. [Member] | Pending Litigation [Member] | ||||
Loss Contingencies [Line Items] | ||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 10 years |
Litigation_Environmental_and_O1
Litigation, Environmental and Other Contingencies Litigation General (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Loss Contingencies [Line Items] | ||
Estimated Litigation Liability | $518 | $400 |
SFPP [Member] | Revenue Subject to Refund [Member] | California Public Utilities Commission [Member] | Various Shippers [Member] | Regulated Operation [Member] | Unfavorable Regulatory Action [Member] | Settled Litigation [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Damages Sought, Value | $319 |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | 240 Months Ended | 0 Months Ended | 3 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 1969 | Aug. 06, 2013 | Mar. 31, 2015 | Aug. 31, 2007 | Dec. 31, 2010 | Dec. 31, 2000 | Jul. 24, 2013 | Nov. 08, 2013 | Dec. 31, 2014 |
Terminals | |||||||||
Loss Contingencies [Line Items] | |||||||||
Accrual for environmental loss contingencies | $332 | $340 | |||||||
Environmental recoveries receivable | 14 | 14 | |||||||
Rare Metals Inc. [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of Uranium Mines | 20 | ||||||||
Roosevelt Irrigation District v. Kinder Morgan G.P., Inc., Kinder Morgan Energy Partners, L.P. , U.S. District Court, Arizona [Member] | Pending Litigation [Member] | SFPP Phoenix Terminal [Member] | Unfavorable Regulatory Action [Member] | KMEP and SFPP [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Loss Contingency, Damages Sought, Value | 175 | ||||||||
Loss Contingency, Number of Defendants | 26 | 70 | |||||||
United States District Court, Southern District of California, case number 07CV1883WCAB [Member] | Pending Litigation [Member] | Mission Valley Terminal Facility [Member] | Kinder Morgan Energy Partners, L.P. [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Loss Contingency, Damages Sought, Value | 170 | 365 | |||||||
Lower Passaic River Study Area [Member] | Pending Litigation [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of Parties at a Joint Defense Group | 70 | ||||||||
Number of Facilities | 100 | ||||||||
Portland Harbor Superfund Site, Willamette River, Portland, Oregon [Member] | Environmental Protection Agency [Member] | Regulated Operation [Member] | Portland Harbor Superfund Site, Willamette River, Portland, Oregon [Member] | GATX Terminals Corporation (n/k/a KMLT) [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of Liquid Terminals | 4 | 2 | |||||||
Number of Parties Involved In Site Cleanup Allocation Negotiations | 90 | ||||||||
Southeast Louisiana Flood Protection Litigation [Member] | Board of Commissioners of the Southeast Louisiana Flood Protection Authority - East [Member] | TGP and SNG [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Loss Contingency, Number of Defendants | 100 | ||||||||
Plaquemines Parish, Louisiana (Docket No. 60-999) [Member] | Parish of Plaquemines, Louisiana [Member] | Bastian Bay, Buras, Empire and Fort Jackson oil and gas fields of Plaquemines Parish [Member] | Tennessee Gas Pipeline Company LLC [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Loss Contingency, Number of Defendants | 17 | ||||||||
Minimum [Member] | Lower Passaic River Study Area [Member] | Pending Litigation [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Environmental Remediation Expense | 365 | ||||||||
Maximum [Member] | Lower Passaic River Study Area [Member] | Pending Litigation [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Environmental Remediation Expense | 3,200 | ||||||||
Preferred alternative [Member] | Lower Passaic River Study Area [Member] | Pending Litigation [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Environmental Remediation Expense | $1,700 |
Guarantee_of_Securities_of_Sub2
Guarantee of Securities of Subsidiaries (Details Textual) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Subsidiary Issuer and Guarantor-KMP [Member] | ||
Long-term Debt | $20,360 | $20,660 |
Subsidiary Issuer and Guarantor-Copano [Member] | ||
Long-term Debt | 332 | 332 |
Subsidiary Guarantors [Member] | ||
Long-term Debt | 7,401 | 6,463 |
Capitalized Lease Debt Not Subject to Cross Guarantee Agreement | 177 | 178 |
Parent Issuer and Guarantor [Member] | ||
Long-term Debt | $14,226 | $12,674 |
Guarantee_of_Securities_of_Sub3
Guarantee of Securities of Subsidiaries Condensed Consolidated Statements of Income and Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | $3,597 | $4,047 |
Depreciation, depletion and amortization | 538 | 496 |
Other operating expenses | 4 | -4 |
Total Operating Costs, Expenses and Other | 2,519 | 2,900 |
Operating (loss) income | -1,078 | -1,147 |
Earnings from equity investments | 102 | 99 |
Interest, net | -512 | -448 |
Amortization of excess cost of equity investments and other, net | 13 | 13 |
Income Tax Expense (Benefit) | -224 | -200 |
Net Income | 419 | 601 |
Net Loss (Income) Attributable to Noncontrolling Interests | 10 | -314 |
Net Income Attributable to Kinder Morgan, Inc. | 429 | 287 |
Total other comprehensive loss | -176 | -94 |
Comprehensive income (loss) | 243 | 507 |
Comprehensive income (loss) attributable to noncontrolling interests | 10 | -258 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 253 | 249 |
Consolidating Adjustments [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | -13 | 2 |
Cost of sales | 0 | 14 |
Depreciation, depletion and amortization | 0 | 0 |
Other operating expenses | -13 | -12 |
Total Operating Costs, Expenses and Other | -13 | 2 |
Operating (loss) income | 0 | 0 |
Earnings (losses) from consolidated subsidiaries | -2,029 | -2,312 |
Earnings from equity investments | 0 | 0 |
Interest, net | 0 | 0 |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income (loss) before income taxes | -2,029 | -2,312 |
Income Tax Expense (Benefit) | 0 | 0 |
Net Income | -2,029 | -2,312 |
Net Loss (Income) Attributable to Noncontrolling Interests | 10 | -196 |
Net Income Attributable to Kinder Morgan, Inc. | -2,019 | -2,508 |
Total other comprehensive loss | 697 | 329 |
Comprehensive income (loss) | -1,332 | -1,983 |
Comprehensive income (loss) attributable to noncontrolling interests | 10 | -152 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -1,322 | -2,135 |
Parent Issuer and Guarantor [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 9 | 9 |
Cost of sales | 0 | 0 |
Depreciation, depletion and amortization | 5 | 5 |
Other operating expenses | 12 | 8 |
Total Operating Costs, Expenses and Other | 17 | 13 |
Operating (loss) income | 8 | 4 |
Earnings (losses) from consolidated subsidiaries | 605 | 506 |
Earnings from equity investments | 0 | 0 |
Interest, net | -104 | -132 |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income (loss) before income taxes | 493 | 370 |
Income Tax Expense (Benefit) | -64 | -34 |
Net Income | 429 | 336 |
Net Loss (Income) Attributable to Noncontrolling Interests | 0 | -49 |
Net Income Attributable to Kinder Morgan, Inc. | 429 | 287 |
Total other comprehensive loss | -176 | -49 |
Comprehensive income (loss) | 253 | 287 |
Comprehensive income (loss) attributable to noncontrolling interests | 0 | -38 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 253 | 249 |
Subsidiary Issuer and Guarantor-KMP [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 0 | 0 |
Cost of sales | 0 | 0 |
Depreciation, depletion and amortization | 0 | 0 |
Other operating expenses | 38 | 1 |
Total Operating Costs, Expenses and Other | 38 | 1 |
Operating (loss) income | 38 | 1 |
Earnings (losses) from consolidated subsidiaries | 883 | 947 |
Earnings from equity investments | 0 | 0 |
Interest, net | -27 | -24 |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income (loss) before income taxes | 818 | 922 |
Income Tax Expense (Benefit) | -2 | -3 |
Net Income | 816 | 919 |
Net Loss (Income) Attributable to Noncontrolling Interests | 0 | -69 |
Net Income Attributable to Kinder Morgan, Inc. | 816 | 850 |
Total other comprehensive loss | -238 | -118 |
Comprehensive income (loss) | 578 | 801 |
Comprehensive income (loss) attributable to noncontrolling interests | 0 | -68 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 578 | 733 |
Subsidiary Issuer and Guarantor-Copano [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 0 | 0 |
Cost of sales | 0 | 0 |
Depreciation, depletion and amortization | 0 | 0 |
Other operating expenses | 1 | 7 |
Total Operating Costs, Expenses and Other | 1 | 7 |
Operating (loss) income | 1 | 7 |
Earnings (losses) from consolidated subsidiaries | -23 | 44 |
Earnings from equity investments | 0 | 0 |
Interest, net | -12 | -11 |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income (loss) before income taxes | -36 | 26 |
Income Tax Expense (Benefit) | 0 | 0 |
Net Income | -36 | 26 |
Net Loss (Income) Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | -36 | 26 |
Total other comprehensive loss | 0 | 0 |
Comprehensive income (loss) | -36 | 26 |
Comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -36 | 26 |
Subsidiaries Guarantors [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 3,226 | 3,630 |
Cost of sales | 1,001 | 1,497 |
Depreciation, depletion and amortization | 442 | 399 |
Other operating expenses | 685 | 639 |
Total Operating Costs, Expenses and Other | 2,128 | 2,535 |
Operating (loss) income | -1,098 | -1,095 |
Earnings (losses) from consolidated subsidiaries | 548 | 359 |
Earnings from equity investments | 76 | 99 |
Interest, net | -355 | -250 |
Amortization of excess cost of equity investments and other, net | -3 | -7 |
Income (loss) before income taxes | 1,364 | 1,296 |
Income Tax Expense (Benefit) | -157 | -11 |
Net Income | 1,207 | 1,285 |
Net Loss (Income) Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | 1,207 | 1,285 |
Total other comprehensive loss | -295 | -146 |
Comprehensive income (loss) | 912 | 1,139 |
Comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 912 | 1,139 |
Subsidiary Non-Guarantors [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 375 | 406 |
Cost of sales | 89 | 132 |
Depreciation, depletion and amortization | 91 | 92 |
Other operating expenses | 168 | 118 |
Total Operating Costs, Expenses and Other | 348 | 342 |
Operating (loss) income | -27 | -64 |
Earnings (losses) from consolidated subsidiaries | 16 | 456 |
Earnings from equity investments | 0 | 0 |
Interest, net | -14 | -31 |
Amortization of excess cost of equity investments and other, net | 4 | 10 |
Income (loss) before income taxes | 33 | 499 |
Income Tax Expense (Benefit) | -1 | -152 |
Net Income | 32 | 347 |
Net Loss (Income) Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | 32 | 347 |
Total other comprehensive loss | -164 | -110 |
Comprehensive income (loss) | -132 | 237 |
Comprehensive income (loss) attributable to noncontrolling interests | 0 | 0 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -132 | 237 |
Consolidated KMI [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 3,597 | 4,047 |
Cost of sales | 1,090 | 1,643 |
Depreciation, depletion and amortization | 538 | 496 |
Other operating expenses | 891 | 761 |
Total Operating Costs, Expenses and Other | 2,519 | 2,900 |
Operating (loss) income | -1,078 | -1,147 |
Earnings (losses) from consolidated subsidiaries | 0 | 0 |
Earnings from equity investments | 76 | 99 |
Interest, net | -512 | -448 |
Amortization of excess cost of equity investments and other, net | 1 | 3 |
Income (loss) before income taxes | 643 | 801 |
Income Tax Expense (Benefit) | -224 | -200 |
Net Income | 419 | 601 |
Net Loss (Income) Attributable to Noncontrolling Interests | 10 | -314 |
Net Income Attributable to Kinder Morgan, Inc. | 429 | 287 |
Total other comprehensive loss | -176 | -94 |
Comprehensive income (loss) | 243 | 507 |
Comprehensive income (loss) attributable to noncontrolling interests | 10 | -258 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $253 | $249 |
Guarantee_of_Securities_of_Sub4
Guarantee of Securities of Subsidiaries Condensed Consolidating Balance Sheets (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $259 | $315 | $513 | $598 |
Other current assets | 540 | 746 | ||
Property, plant and equipment, net | 40,289 | 38,564 | ||
Investments | 6,011 | 6,036 | ||
Goodwill | 24,907 | 24,654 | ||
Deferred tax assets | 5,545 | 5,651 | ||
Other non-current assets | 2,361 | 2,239 | ||
Total Assets | 86,164 | 83,198 | ||
Long-term debt | 41,824 | 40,246 | ||
Total Liabilities | 50,805 | 48,772 | ||
Total KMI equity | 35,029 | 34,076 | ||
Noncontrolling interests | 330 | 350 | ||
Total stockholders' equity | 35,359 | 34,426 | 28,434 | 28,285 |
Total liabilities and stockholders' equity | 86,164 | 83,198 | ||
Consolidating Adjustments [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Other current assets | -13 | -20 | ||
Property, plant and equipment, net | 0 | 0 | ||
Investments | 0 | 0 | ||
Investments in subsidiaries | -86,345 | -87,902 | ||
Goodwill | 0 | 0 | ||
Notes receivable from affiliates | -29,762 | -27,202 | ||
Deferred tax assets | -3,614 | -3,605 | ||
Other non-current assets | 0 | 0 | ||
Total Assets | -137,962 | -133,919 | ||
Current portion of debt | 0 | 0 | ||
Other current liabilities | -13 | -20 | ||
Long-term debt | 0 | 0 | ||
Notes payable to affiliates | -29,762 | -27,202 | ||
Deferred income taxes | -3,614 | -3,605 | ||
All other long-term liabilities and deferred credits | 0 | 0 | ||
Total Liabilities | -51,617 | -46,017 | ||
Total KMI equity | -86,675 | -88,252 | ||
Noncontrolling interests | 330 | 350 | ||
Total stockholders' equity | -86,345 | -87,902 | ||
Total liabilities and stockholders' equity | -137,962 | -133,919 | ||
Parent Issuer and Guarantor [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 13 | 4 | 56 | 83 |
Other current assets | 202 | 397 | ||
Property, plant and equipment, net | 277 | 263 | ||
Investments | 16 | 16 | ||
Investments in subsidiaries | 32,381 | 31,372 | ||
Goodwill | 15,089 | 15,087 | ||
Notes receivable from affiliates | 4,590 | 4,459 | ||
Deferred tax assets | 0 | 0 | ||
Other non-current assets | 310 | 287 | ||
Total Assets | 56,016 | 53,753 | ||
Current portion of debt | 963 | 1,486 | ||
Other current liabilities | 302 | 319 | ||
Long-term debt | 13,965 | 11,862 | ||
Notes payable to affiliates | 2,542 | 2,619 | ||
Deferred income taxes | 2,126 | 2,099 | ||
All other long-term liabilities and deferred credits | 538 | 583 | ||
Total Liabilities | 20,987 | 19,677 | ||
Total KMI equity | 35,029 | 34,076 | ||
Noncontrolling interests | 0 | 0 | ||
Total stockholders' equity | 35,029 | 34,076 | ||
Total liabilities and stockholders' equity | 56,016 | 53,753 | ||
Subsidiary Issuer and Guarantor-KMP [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 15 | 15 | 104 | 88 |
Other current assets | 153 | 152 | ||
Property, plant and equipment, net | 0 | 0 | ||
Investments | 2 | 1 | ||
Investments in subsidiaries | 31,011 | 33,414 | ||
Goodwill | 22 | 22 | ||
Notes receivable from affiliates | 22,593 | 19,832 | ||
Deferred tax assets | 0 | 0 | ||
Other non-current assets | 449 | 360 | ||
Total Assets | 56,078 | 55,131 | ||
Current portion of debt | 875 | 699 | ||
Other current liabilities | 224 | 498 | ||
Long-term debt | 20,271 | 20,675 | ||
Notes payable to affiliates | 448 | 153 | ||
Deferred income taxes | 0 | 0 | ||
All other long-term liabilities and deferred credits | 175 | 78 | ||
Total Liabilities | 35,410 | 34,052 | ||
Total KMI equity | 20,668 | 21,079 | ||
Noncontrolling interests | 0 | 0 | ||
Total stockholders' equity | 20,668 | 21,079 | ||
Total liabilities and stockholders' equity | 56,078 | 55,131 | ||
Subsidiary Issuer and Guarantor-Copano [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 1 |
Other current assets | 1 | 3 | ||
Property, plant and equipment, net | 1 | 5 | ||
Investments | 0 | 0 | ||
Investments in subsidiaries | 1,888 | 1,911 | ||
Goodwill | 920 | 920 | ||
Notes receivable from affiliates | 0 | 0 | ||
Deferred tax assets | 0 | 0 | ||
Other non-current assets | 0 | 0 | ||
Total Assets | 2,828 | 2,850 | ||
Current portion of debt | 0 | 0 | ||
Other current liabilities | 16 | 12 | ||
Long-term debt | 384 | 386 | ||
Notes payable to affiliates | 606 | 753 | ||
Deferred income taxes | 2 | 2 | ||
All other long-term liabilities and deferred credits | 0 | 2 | ||
Total Liabilities | 1,284 | 1,270 | ||
Total KMI equity | 1,544 | 1,580 | ||
Noncontrolling interests | 0 | 0 | ||
Total stockholders' equity | 1,544 | 1,580 | ||
Total liabilities and stockholders' equity | 2,828 | 2,850 | ||
Subsidiaries Guarantors [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 40 | 17 | 6 | 17 |
Other current assets | 2,354 | 2,547 | ||
Property, plant and equipment, net | 31,462 | 29,490 | ||
Investments | 5,885 | 5,910 | ||
Investments in subsidiaries | 17,741 | 17,868 | ||
Goodwill | 5,688 | 5,419 | ||
Notes receivable from affiliates | 2,256 | 2,415 | ||
Deferred tax assets | 9,159 | 9,256 | ||
Other non-current assets | 5,236 | 3,782 | ||
Total Assets | 92,486 | 88,277 | ||
Current portion of debt | 1,471 | 381 | ||
Other current liabilities | 2,105 | 1,812 | ||
Long-term debt | 6,510 | 6,609 | ||
Notes payable to affiliates | 24,784 | 22,437 | ||
Deferred income taxes | 0 | 0 | ||
All other long-term liabilities and deferred credits | 989 | 987 | ||
Total Liabilities | 39,202 | 33,777 | ||
Total KMI equity | 53,284 | 54,500 | ||
Noncontrolling interests | 0 | 0 | ||
Total stockholders' equity | 53,284 | 54,500 | ||
Total liabilities and stockholders' equity | 92,486 | 88,277 | ||
Subsidiary Non-Guarantors [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 191 | 279 | 347 | 409 |
Other current assets | 333 | 358 | ||
Property, plant and equipment, net | 8,549 | 8,806 | ||
Investments | 108 | 109 | ||
Investments in subsidiaries | 3,324 | 3,337 | ||
Goodwill | 3,188 | 3,206 | ||
Notes receivable from affiliates | 323 | 496 | ||
Deferred tax assets | 0 | 0 | ||
Other non-current assets | 128 | 112 | ||
Total Assets | 16,718 | 17,106 | ||
Current portion of debt | 126 | 151 | ||
Other current liabilities | 715 | 1,024 | ||
Long-term debt | 694 | 714 | ||
Notes payable to affiliates | 1,382 | 1,240 | ||
Deferred income taxes | 1,486 | 1,504 | ||
All other long-term liabilities and deferred credits | 495 | 514 | ||
Total Liabilities | 5,539 | 6,013 | ||
Total KMI equity | 11,179 | 11,093 | ||
Noncontrolling interests | 0 | 0 | ||
Total stockholders' equity | 11,179 | 11,093 | ||
Total liabilities and stockholders' equity | 16,718 | 17,106 | ||
Consolidated KMI [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 259 | 315 | 513 | 598 |
Other current assets | 3,030 | 3,437 | ||
Property, plant and equipment, net | 40,289 | 38,564 | ||
Investments | 6,011 | 6,036 | ||
Investments in subsidiaries | 0 | 0 | ||
Goodwill | 24,907 | 24,654 | ||
Notes receivable from affiliates | 0 | 0 | ||
Deferred tax assets | 5,545 | 5,651 | ||
Other non-current assets | 6,123 | 4,541 | ||
Total Assets | 86,164 | 83,198 | ||
Current portion of debt | 3,435 | 2,717 | ||
Other current liabilities | 3,349 | 3,645 | ||
Long-term debt | 41,824 | 40,246 | ||
Notes payable to affiliates | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
All other long-term liabilities and deferred credits | 2,197 | 2,164 | ||
Total Liabilities | 50,805 | 48,772 | ||
Total KMI equity | 35,029 | 34,076 | ||
Noncontrolling interests | 330 | 350 | ||
Total stockholders' equity | 35,359 | 34,426 | ||
Total liabilities and stockholders' equity | 86,164 | 83,198 | ||
Affiliated Entity [Member] | Consolidating Adjustments [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | -18,228 | -15,190 | ||
Other current liabilities | -18,228 | -15,190 | ||
Affiliated Entity [Member] | Parent Issuer and Guarantor [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 3,138 | 1,868 | ||
Other current liabilities | 551 | 709 | ||
Affiliated Entity [Member] | Subsidiary Issuer and Guarantor-KMP [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 1,833 | 1,335 | ||
Other current liabilities | 13,417 | 11,949 | ||
Affiliated Entity [Member] | Subsidiary Issuer and Guarantor-Copano [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 18 | 11 | ||
Other current liabilities | 276 | 115 | ||
Affiliated Entity [Member] | Subsidiaries Guarantors [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 12,665 | 11,573 | ||
Other current liabilities | 3,343 | 1,551 | ||
Affiliated Entity [Member] | Subsidiary Non-Guarantors [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 574 | 403 | ||
Other current liabilities | 641 | 866 | ||
Affiliated Entity [Member] | Consolidated KMI [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 0 | 0 | ||
Other current liabilities | $0 | $0 |
Guarantee_of_Securities_of_Sub5
Guarantee of Securities of Subsidiaries Condensed Consolidating Statements of Cash Flows (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | $1,256 | $1,118 |
Capital expenditures | -897 | -845 |
Contributions to investments | -30 | -36 |
Acquisitions of assets and investments | -1,859 | -960 |
Distributions from equity investments in excess of cumulative earnings | 50 | 38 |
Other, net | -34 | 14 |
Net cash (used in) provided by investing activities | -2,775 | -1,819 |
Issuance of debt | 7,136 | 5,191 |
Payment of debt | -6,305 | -4,184 |
Debt issuance costs | -16 | -12 |
Issuances of shares | 1,626 | 0 |
Cash dividends | -962 | -425 |
Repurchases of shares and warrants | 0 | -149 |
Contributions from noncontrolling interests | 0 | 684 |
Distributions to noncontrolling interests | -10 | -479 |
Other, net | -1 | 0 |
Net cash (used in) provided by financing activities | 1,468 | 626 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | -5 | -10 |
Net (decrease) increase in cash and cash equivalents | -56 | -85 |
Cash and Cash Equivalents, beginning of period | 315 | 598 |
Cash and Cash Equivalents, end of period | 259 | 513 |
Consolidating Adjustments [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | -2,591 | -1,788 |
Funding to affiliates | 6,440 | 4,428 |
Capital expenditures | 4 | 0 |
Contributions to investments | 0 | 76 |
Investment in KMP | 159 | 11 |
Acquisitions of assets and investments | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | 0 | -166 |
Other, net | -4 | 0 |
Net cash (used in) provided by investing activities | 6,599 | 4,349 |
Issuance of debt | 0 | 0 |
Payment of debt | 0 | 0 |
Funding from (to) affiliates | -6,440 | -4,428 |
Debt issuance costs | 0 | 0 |
Issuances of shares | 0 | |
Cash dividends | 0 | 0 |
Repurchases of shares and warrants | 0 | |
Contributions from parents | -159 | -768 |
Contributions from noncontrolling interests | 684 | |
Distributions to parents | 2,601 | 2,429 |
Distributions to noncontrolling interests | -10 | -479 |
Other, net | 0 | 1 |
Net cash (used in) provided by financing activities | -4,008 | -2,561 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 0 | 0 |
Cash and Cash Equivalents, beginning of period | 0 | 0 |
Cash and Cash Equivalents, end of period | 0 | 0 |
Parent Issuer and Guarantor [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | -224 | 438 |
Funding to affiliates | -246 | -64 |
Capital expenditures | -18 | -15 |
Contributions to investments | 0 | 0 |
Investment in KMP | -159 | -11 |
Acquisitions of assets and investments | -1,709 | 0 |
Distributions from equity investments in excess of cumulative earnings | 14 | 10 |
Other, net | 0 | 0 |
Net cash (used in) provided by investing activities | -2,118 | -80 |
Issuance of debt | 7,136 | 643 |
Payment of debt | -5,967 | -491 |
Funding from (to) affiliates | 534 | 39 |
Debt issuance costs | -16 | -2 |
Issuances of shares | 1,626 | |
Cash dividends | -962 | -425 |
Repurchases of shares and warrants | -149 | |
Contributions from parents | 0 | 0 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | 0 | 0 |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | 0 | 0 |
Net cash (used in) provided by financing activities | 2,351 | -385 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 9 | -27 |
Cash and Cash Equivalents, beginning of period | 4 | 83 |
Cash and Cash Equivalents, end of period | 13 | 56 |
Subsidiary Issuer and Guarantor-KMP [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | 3,675 | 1,435 |
Funding to affiliates | -4,664 | -2,986 |
Capital expenditures | 0 | 0 |
Contributions to investments | 0 | -76 |
Investment in KMP | 0 | 0 |
Acquisitions of assets and investments | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | 0 | 156 |
Other, net | -31 | -22 |
Net cash (used in) provided by investing activities | -4,695 | -2,928 |
Issuance of debt | 0 | 4,548 |
Payment of debt | -300 | -3,618 |
Funding from (to) affiliates | 2,311 | 1,010 |
Debt issuance costs | 0 | -10 |
Issuances of shares | 0 | |
Cash dividends | 0 | 0 |
Repurchases of shares and warrants | 0 | |
Contributions from parents | 156 | 661 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | -1,147 | -1,080 |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | 0 | -2 |
Net cash (used in) provided by financing activities | 1,020 | 1,509 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 0 | 16 |
Cash and Cash Equivalents, beginning of period | 15 | 88 |
Cash and Cash Equivalents, end of period | 15 | 104 |
Subsidiary Issuer and Guarantor-Copano [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | 139 | 79 |
Funding to affiliates | 0 | 0 |
Capital expenditures | -2 | -27 |
Contributions to investments | 0 | 0 |
Investment in KMP | 0 | 0 |
Acquisitions of assets and investments | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | 0 | 0 |
Other, net | 4 | 0 |
Net cash (used in) provided by investing activities | 2 | -27 |
Issuance of debt | 0 | 0 |
Payment of debt | 0 | 0 |
Funding from (to) affiliates | -141 | -53 |
Debt issuance costs | 0 | 0 |
Issuances of shares | 0 | |
Cash dividends | 0 | 0 |
Repurchases of shares and warrants | 0 | |
Contributions from parents | 0 | 0 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | 0 | 0 |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | 0 | 0 |
Net cash (used in) provided by financing activities | -141 | -53 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 0 | -1 |
Cash and Cash Equivalents, beginning of period | 0 | 1 |
Cash and Cash Equivalents, end of period | 0 | 0 |
Subsidiaries Guarantors [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | 424 | 740 |
Funding to affiliates | -1,432 | -1,168 |
Capital expenditures | -786 | -599 |
Contributions to investments | -30 | -36 |
Investment in KMP | 0 | 0 |
Acquisitions of assets and investments | -155 | -990 |
Distributions from equity investments in excess of cumulative earnings | 36 | 38 |
Other, net | 4 | 23 |
Net cash (used in) provided by investing activities | -2,363 | -2,732 |
Issuance of debt | 0 | 0 |
Payment of debt | -36 | -73 |
Funding from (to) affiliates | 3,400 | 3,280 |
Debt issuance costs | 0 | 0 |
Issuances of shares | 0 | |
Cash dividends | 0 | 0 |
Repurchases of shares and warrants | 0 | |
Contributions from parents | 3 | 83 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | -1,404 | -1,310 |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | -1 | 1 |
Net cash (used in) provided by financing activities | 1,962 | 1,981 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 23 | -11 |
Cash and Cash Equivalents, beginning of period | 17 | 17 |
Cash and Cash Equivalents, end of period | 40 | 6 |
Subsidiary Non-Guarantors [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | -167 | 214 |
Funding to affiliates | -98 | -210 |
Capital expenditures | -95 | -204 |
Contributions to investments | 0 | 0 |
Investment in KMP | 0 | 0 |
Acquisitions of assets and investments | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | 0 | 0 |
Other, net | -7 | 13 |
Net cash (used in) provided by investing activities | -200 | -401 |
Issuance of debt | 0 | 0 |
Payment of debt | -2 | -2 |
Funding from (to) affiliates | 336 | 152 |
Debt issuance costs | 0 | 0 |
Issuances of shares | 0 | |
Cash dividends | 0 | 0 |
Repurchases of shares and warrants | 0 | |
Contributions from parents | 0 | 24 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | -50 | -39 |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | 0 | 0 |
Net cash (used in) provided by financing activities | 284 | 135 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | -5 | -10 |
Net (decrease) increase in cash and cash equivalents | -88 | -62 |
Cash and Cash Equivalents, beginning of period | 279 | 409 |
Cash and Cash Equivalents, end of period | 191 | 347 |
Consolidated KMI [Member] | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash provided by operating activities | 1,256 | 1,118 |
Funding to affiliates | 0 | 0 |
Capital expenditures | -897 | -845 |
Contributions to investments | -30 | -36 |
Investment in KMP | 0 | 0 |
Acquisitions of assets and investments | -1,864 | -990 |
Distributions from equity investments in excess of cumulative earnings | 50 | 38 |
Other, net | -34 | 14 |
Net cash (used in) provided by investing activities | -2,775 | -1,819 |
Issuance of debt | 7,136 | 5,191 |
Payment of debt | -6,305 | -4,184 |
Funding from (to) affiliates | 0 | 0 |
Debt issuance costs | -16 | -12 |
Issuances of shares | 1,626 | |
Cash dividends | -962 | -425 |
Repurchases of shares and warrants | -149 | |
Contributions from parents | 0 | 0 |
Contributions from noncontrolling interests | 684 | |
Distributions to parents | 0 | 0 |
Distributions to noncontrolling interests | -10 | -479 |
Other, net | -1 | 0 |
Net cash (used in) provided by financing activities | 1,468 | 626 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | -5 | -10 |
Net (decrease) increase in cash and cash equivalents | -56 | -85 |
Cash and Cash Equivalents, beginning of period | 315 | 598 |
Cash and Cash Equivalents, end of period | $259 | $513 |