Document And Entity Information
Document And Entity Information - USD ($) | 3 Months Ended | ||
Mar. 31, 2016 | Apr. 21, 2016 | Jun. 30, 2015 | |
Entity [Abstract] | |||
Entity Registrant Name | KINDER MORGAN, INC. | ||
Entity Central Index Key | 1,506,307 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 69,734,282,635 | ||
Entity Common Stock, Shares Outstanding | 2,231,555,976 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | Q1 | ||
Document Type | 10-Q | ||
Amendment Flag | false | ||
Document Period End Date | Mar. 31, 2016 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenues | ||
Natural gas sales | $ 543 | $ 785 |
Services | 2,114 | 1,970 |
Product sales and other | 538 | 842 |
Total Revenues | 3,195 | 3,597 |
Operating Costs, Expenses and Other | ||
Costs of sales | 731 | 1,090 |
Operations and maintenance | 565 | 505 |
Depreciation, depletion and amortization | 551 | 538 |
General and administrative | 190 | 216 |
Taxes, other than income taxes | 108 | 115 |
Loss on impairments and disposals of long-lived assets, net | 235 | 54 |
Other (income) expense, net | (1) | 1 |
Total Operating Costs, Expenses and Other | 2,379 | 2,519 |
Operating Income | 816 | 1,078 |
Other Income (Expense) | ||
Earnings from equity investments | 94 | 76 |
Amortization of excess cost of equity investments | (14) | (12) |
Interest, net | (441) | (512) |
Other, net | 13 | 13 |
Total Other Expense | (348) | (435) |
Income Before Income Taxes | 468 | 643 |
Income Tax Expense | (154) | (224) |
Net Income | 314 | 419 |
Net Loss Attributable to Noncontrolling Interests | 1 | 10 |
Net Income Attributable to Kinder Morgan, Inc. | 315 | 429 |
Preferred Stock Dividends | (39) | 0 |
Net Income (Loss) Available to Common Stockholders | $ 276 | $ 429 |
Class P Shares | ||
Diluted Earnings Per Common Share | $ 0.12 | $ 0.20 |
Diluted Weighted Average Common Shares Outstanding | 2,229 | 2,151 |
Class P Shares | ||
Other Income (Expense) | ||
Net Income (Loss) Available to Common Stockholders | $ 275 | $ 426 |
Class P Shares | ||
Basic Earnings Per Common Share | $ 0.12 | $ 0.20 |
Basic Weighted Average Common Shares Outstanding | 2,229 | 2,141 |
Dividends Per Common Share Declared for the Period | $ 0.125 | $ 0.480 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Total | ||
Net income | $ 314 | $ 419 |
Other comprehensive income (loss), net of tax | ||
Change in fair value of hedge derivatives (net of tax (expense) benefit of $(43) and $1, respectively) | 73 | (2) |
Reclassification of change in fair value of derivatives to net income (net of tax benefit of $64 and $41, respectively) | (108) | (72) |
Foreign currency translation adjustments (net of tax (expense) benefit of $(45) and $62, respectively) | 78 | (108) |
Benefit plan adjustments (net of tax expense of $(3) and $(3), respectively) | 4 | 6 |
Total other comprehensive income (loss) | 47 | (176) |
Comprehensive income | 361 | 243 |
Comprehensive loss attributable to noncontrolling interests | 1 | 10 |
Comprehensive income attributable to KMI | $ 362 | $ 253 |
CONSOLIDATED STATEMENTS OF COM4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Other comprehensive income (loss), net of tax | ||
Change in fair value of hedge derivatives | $ (43) | $ 1 |
Reclassification of change in fair value of derivatives to net income | 64 | 41 |
Foreign currency translation adjustments | (45) | 62 |
Benefit plan adjustments | $ (3) | $ (3) |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 175 | $ 229 |
Accounts receivable, net | 1,203 | 1,315 |
Fair value of derivative contracts | 454 | 507 |
Inventories | 364 | 407 |
Other current assets | 285 | 366 |
Total current assets | 2,481 | 2,824 |
Property, plant and equipment, net | 41,042 | 40,547 |
Investments | 6,035 | 6,040 |
Goodwill | 23,801 | 23,790 |
Other intangibles, net | 3,496 | 3,551 |
Deferred income taxes | 5,103 | 5,323 |
Deferred charges and other assets | 2,271 | 2,029 |
Total Assets | 84,229 | 84,104 |
Current Liabilities | ||
Current portion of debt | 1,702 | 821 |
Accounts payable | 1,017 | 1,324 |
Accrued interest | 506 | 695 |
Accrued contingencies | 276 | 298 |
Other current liabilities | 895 | 927 |
Total current liabilities | 4,396 | 4,065 |
Long-term debt | ||
Outstanding | 40,093 | 40,632 |
Preferred interest in general partner of KMP | 100 | 100 |
Debt fair value adjustments | 1,912 | 1,674 |
Total long-term debt | 42,105 | 42,406 |
Other long-term liabilities and deferred credits | 2,182 | 2,230 |
Total long-term liabilities and deferred credits | 44,287 | 44,636 |
Total Liabilities | $ 48,683 | $ 48,701 |
Commitments and contingencies (Notes 3 and 9) | ||
Stockholders’ Equity | ||
Class P shares, $0.01 par value, 4,000,000,000 shares authorized, 2,229,232,375 and 2,229,223,864 shares, respectively, issued and outstanding | $ 22 | $ 22 |
Preferred stock, $0.01 par value, 10,000,000 shares authorized, 9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference, 1,600,000 shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 41,678 | 41,661 |
Retained deficit | (6,106) | (6,103) |
Accumulated other comprehensive loss | (414) | (461) |
Total Kinder Morgan, Inc.’s stockholders’ equity | 35,180 | 35,119 |
Noncontrolling interests | 366 | 284 |
Total Stockholders’ Equity | 35,546 | 35,403 |
Total Liabilities and Stockholders’ Equity | $ 84,229 | $ 84,104 |
CONSOLIDATED BALANCE SHEETS (U6
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Stockholders’ Equity | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 1,600,000 | 1,600,000 |
Preferred stock, shares outstanding (in shares) | 1,600,000 | 1,600,000 |
Class P | ||
Stockholders’ Equity | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 4,000,000,000 | 4,000,000,000 |
Common stock, shares issued (in shares) | 2,229,232,375 | 2,229,223,864 |
Common stock, shares outstanding (in shares) | 2,229,232,375 | 2,229,223,864 |
9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference | ||
Stockholders’ Equity | ||
9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference | $ 1,000 | $ 1,000 |
9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference | 9.75% | 9.75% |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash Flows From Operating Activities | ||
Net income | $ 314 | $ 419 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation, depletion and amortization | 551 | 538 |
Deferred income taxes | 179 | 221 |
Amortization of excess cost of equity investments | 14 | 12 |
Loss on impairments and disposals of long-lived assets, net | 235 | 54 |
Earnings from equity investments | (94) | (76) |
Distributions from equity investment earnings | 91 | 92 |
Changes in components of working capital, net of the effects of acquisitions | ||
Accounts receivable, net | 116 | 216 |
Income tax receivable | 0 | 195 |
Inventories | 46 | 6 |
Other current assets | 16 | 0 |
Accounts payable | (172) | (241) |
Accrued interest, net of interest rate swaps | (159) | (89) |
Accrued contingencies and other current liabilities | (23) | (12) |
Rate reparations, refunds and other litigation reserve adjustments | 31 | 60 |
Other, net | (95) | (139) |
Net Cash Provided by Operating Activities | 1,050 | 1,256 |
Cash Flows From Investing Activities | ||
Acquisitions of assets and investments, net of cash acquired | (330) | (1,864) |
Capital expenditures | (811) | (897) |
Contributions to investments | (44) | (30) |
Distributions from equity investments in excess of cumulative earnings | 43 | 50 |
Other, net | (2) | (34) |
Net Cash Used in Investing Activities | (1,144) | (2,775) |
Cash Flows From Financing Activities | ||
Issuances of debt | 4,610 | 7,136 |
Payments of debt | (4,336) | (6,305) |
Debt issue costs | (6) | (16) |
Issuances of common shares | 0 | 1,626 |
Cash dividends - common shares | (279) | (962) |
Cash dividends - preferred shares | (37) | 0 |
Contributions from noncontrolling interests | 87 | 0 |
Distributions to noncontrolling interests | (4) | (10) |
Other, net | 0 | (1) |
Net Cash Provided by Financing Activities | 35 | 1,468 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 5 | (5) |
Net decrease in Cash and Cash Equivalents | (54) | (56) |
Cash and Cash Equivalents, beginning of period | 229 | 315 |
Cash and Cash Equivalents, end of period | 175 | 259 |
Non-cash Investing and Financing Activities | ||
Assets acquired by the assumption or incurrence of liabilities | 43 | 1,606 |
Net assets contributed to equity investment | 0 | 27 |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid during the period for interest (net of capitalized interest) | 659 | 592 |
Cash refunded during the period for income taxes, net | $ (2) | $ (196) |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) Statement - USD ($) shares in Millions, $ in Millions | Total | Par value | Par value | Additional paid-in capital | Retained deficit | Accumulated other comprehensive loss | Stockholders’ equity attributable to KMI | Non-controlling interests | EP Trust I Preferred security conversionsAdditional paid-in capital | EP Trust I Preferred security conversionsStockholders’ equity attributable to KMI | Class P | Class PAdditional paid-in capital | Class PStockholders’ equity attributable to KMI | Class PEP Trust I Preferred security conversions | Preferred stock |
Issued shares at Dec. 31, 2014 | 2,125 | 0 | |||||||||||||
Issued shares at Mar. 31, 2015 | 2,165 | 0 | |||||||||||||
Stockholders’ equity attributable to KMI at Dec. 31, 2014 | $ 21 | $ 0 | $ 36,178 | $ (2,106) | $ (17) | $ 34,076 | |||||||||
Stockholders’ equity attributable to KMI at Mar. 31, 2015 | 22 | 0 | 37,839 | (2,639) | (193) | 35,029 | |||||||||
Non-controlling interests at Dec. 31, 2014 | $ 350 | ||||||||||||||
Non-controlling interests at Mar. 31, 2015 | 330 | ||||||||||||||
Total at Dec. 31, 2014 | $ 34,426 | ||||||||||||||
Total at Mar. 31, 2015 | 35,359 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Issuances of common shares | 39 | ||||||||||||||
Issuances of common shares | 1 | $ 1,626 | $ 1,625 | $ 1,626 | |||||||||||
EP Trust I Preferred security conversions | 19 | ||||||||||||||
EP Trust I Preferred security conversions | 1 | ||||||||||||||
EP Trust I Preferred security conversions | $ 19 | $ 19 | |||||||||||||
Warrants exercised | 1 | 1 | 1 | ||||||||||||
Restricted shares | 16 | ||||||||||||||
Restricted shares | 16 | 16 | |||||||||||||
Net income | 429 | 429 | 429 | ||||||||||||
Net income | 10 | (10) | |||||||||||||
Net income | 419 | ||||||||||||||
Distributions | (10) | 0 | (10) | ||||||||||||
Common stock dividends | (962) | (962) | (962) | ||||||||||||
Other comprehensive income | (176) | (176) | |||||||||||||
Other comprehensive loss | (176) | ||||||||||||||
Issued shares at Dec. 31, 2015 | 2,229 | 2 | |||||||||||||
Issued shares at Mar. 31, 2016 | 2,229 | 2 | |||||||||||||
Stockholders’ equity attributable to KMI at Dec. 31, 2015 | 35,119 | 22 | 0 | 41,661 | (6,103) | (461) | 35,119 | ||||||||
Stockholders’ equity attributable to KMI at Mar. 31, 2016 | 35,180 | $ 22 | $ 0 | 41,678 | (6,106) | (414) | 35,180 | ||||||||
Non-controlling interests at Dec. 31, 2015 | 284 | 284 | |||||||||||||
Non-controlling interests at Mar. 31, 2016 | 366 | 366 | |||||||||||||
Total at Dec. 31, 2015 | 35,403 | ||||||||||||||
Total at Mar. 31, 2016 | 35,546 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Restricted shares | $ 17 | ||||||||||||||
Restricted shares | 17 | 17 | |||||||||||||
Net income | 315 | 315 | 315 | ||||||||||||
Net income | 1 | (1) | |||||||||||||
Net income | 314 | ||||||||||||||
Distributions | (4) | 0 | (4) | ||||||||||||
Contributions | 87 | 0 | $ 87 | ||||||||||||
Preferred stock dividends | (39) | (39) | (39) | ||||||||||||
Common stock dividends | (279) | $ (279) | (279) | ||||||||||||
Other comprehensive income | $ 47 | $ 47 | |||||||||||||
Other comprehensive loss | $ 47 |
General (Notes)
General (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
General | General Organization We are the largest energy infrastructure company in North America. 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, CO 2 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 CO 2 , 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 KMP and EPB and all of the outstanding shares of KMR that we did not already own, which transactions are referred to collectively as the “Merger Transactions.” Basis of Presentation General Our reporting currency is U.S. dollars, and all references to dollars are U.S. dollars, unless 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 2015 Form 10-K. Impairments and Disposals During the three months ended March 31, 2016 and 2015, we had non-cash pre-tax impairment charges and losses on disposals of assets of $254 million and $80 million , respectively. The three months ended March 31, 2016 amount includes (i) $106 million of project write-offs within our regulated natural gas pipeline assets, primarily associated with our Northeast Energy Direct (NED) Market project, and $13 million related to an equity investment in a gas gathering entity, which are all included in our Natural Gas Pipelines business segment; (ii) $27 million of project write-offs within our CO 2 business segment; (iii) $20 million related to certain terminals with significant coal operations within our Terminals business segment; (iv) $64 million of write-offs associated with our Palmetto project and a $13 million loss on a held-for-sale Transmix facility, both within our Products Pipelines business segment; and (v) $11 million of net losses on other disposals of assets. The project write-offs recorded in the three months ended March 31, 2016 were driven by management's current assessment of the probability of those projects moving forward based on insufficient progress in obtaining contractual commitments from customers in the New England market, in the case of the NED Market project, and a recent unfavorable action by the Georgia legislature regarding eminent domain authority and permitting for refined products pipelines affecting the Palmetto project. The three months ended March 31, 2015 amount includes (i) $51 million of impairments and project write-offs, related to certain gas gathering and processing assets within our midstream operations and $26 million primarily related to an equity investment in a gathering entity, both within our Natural Gas Pipelines business segment; and (ii) $3 million of net losses on other disposals of assets. As conditions warrant, we routinely evaluate our 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, equity investments, goodwill, other intangibles and property plant and equipment, including oil and gas properties and in-process construction. Depending on the nature of the asset, these evaluations require the use of significant judgments including but not limited to judgments related to customer credit worthiness, future cash flow estimates, future volume expectations, current and future commodity prices, regulatory environment, management’s decisions to dispose of certain assets and estimates of the fair values of our reporting units, 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 require future evaluations of the recoverability of the carrying value of our long-lived assets, investments and goodwill which could result in further impairment charges. Because certain of our assets, including our oil and gas producing properties have been written down to fair value, any deterioration in fair value that exceeds the rate of depletion of the related asset would result in further impairments. Such non-cash impairments could have a significant effect on our results of operations, which would be recognized in the period in which the carrying value is determined to not be recoverable. 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, which may be stock or stock units issued to management employees and include dividend equivalent payments, do not participate in excess distributions over earnings. The following tables set forth the allocation of net income available to shareholders of Class P shares and participating securities and the reconciliation of Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding (in millions): Three Months Ended March 31, 2016 2015 Class P $ 275 $ 426 Participating securities: Restricted stock awards(a) 1 3 Net Income Available to Common Stockholders $ 276 $ 429 Three Months Ended March 31, 2016 2015 Basic Weighted Average Common Shares Outstanding 2,229 2,141 Effect of dilutive securities: Warrants — 10 Diluted Weighted Average Common Shares Outstanding 2,229 2,151 ________ (a) As of March 31, 2016 , there were approximately 8 million such restricted stock awards. The following maximum number of 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, 2016 2015 Unvested restricted stock awards 8 7 Warrants to purchase our Class P shares(a) 293 289 Convertible trust preferred securities 8 9 Mandatory convertible preferred stock(b) 58 n/a _______ n/a - not applicable (a) Each warrant 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 potential dilutive effect of the warrants does not consider the assumed proceeds to KMI upon exercise. (b) Until our mandatory convertible preferred shares are converted to common shares, on or before the expected mandatory conversion date of October 26, 2018, the holder of each preferred share participates in our earnings by receiving preferred dividends. |
Acquisitions (Notes)
Acquisitions (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Acquisitions and Divestitures [Abstract] | |
Acquisitions | Acquisitions Acquisition of Terminal Assets from and Joint Venture With BP Products North America Inc. (BP) On February 1, 2016, we completed the acquisition of 15 products terminals and associated infrastructure from BP for $348 million , including a transaction deposit paid in 2015. In conjunction with this transaction, we and BP formed a joint venture, with an equity ownership interest of 75% and 25% , respectively. Subsequent to the acquisition, we contributed 14 of the acquired terminals to the joint venture, which we operate, and the remaining terminal is solely owned by us. BP acquired its 25% interest in the joint venture for $84 million , which we reported as “Contributions from noncontrolling interests” within our accompanying consolidated statement of cash flows for three months ended March 31, 2016 . Of the acquired assets, 10 terminals are included in our Terminals business segment and 5 terminals are included in our Products Pipelines business segment based on synergies with their respective existing operations. Allocation of Purchase Price The evaluation of the assigned fair values for the BP terminals acquisition is ongoing and subject to adjustment. As of March 31, 2016 , our preliminary allocation of the purchase price for the BP terminals acquisition and the adjusted purchase price allocations for the Hiland acquisition and Royal Vopak terminals acquisition, both completed in February 2015, are detailed below (in millions). Acquisitions BP Terminal Assets Hiland Royal Vopak Terminal Assets Purchase Price Allocation: Current assets $ 2 $ 79 $ 2 Property, plant and equipment 395 1,492 155 Goodwill — 310 6 Deferred charges and other assets(a) — 1,498 — Total assets acquired 397 3,379 163 Current liabilities — (253 ) (1 ) Debt — (1,413 ) — Other liabilities (49 ) (4 ) (4 ) Cash consideration $ 348 $ 1,709 $ 158 _______ (a) Primarily consists of 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. Additionally, we adjust goodwill as a result of applying the look-through method of recording deferred taxes on the outside book tax basis differences in our investments without regard to non-tax deductible goodwill. |
Debt Debt (Notes)
Debt Debt (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt [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, premiums and issuance costs (in millions): March 31, 2016 December 31, 2015 KMI Unsecured term loan facility, variable rate, due January 26, 2019(a) $ 1,000 $ — Senior notes, 1.50% through 8.25%, due 2016 through 2098(b) 13,344 13,346 Credit facility due November 26, 2019(c) 900 — Commercial paper borrowings(c) 48 — KMP Senior notes, 2.65% through 9.00%, due 2016 through 2044 19,485 19,985 TGP senior notes, 7.00% through 8.375%, due 2016 through 2037(a) 1,540 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, 6.85%, due June 15, 2037 100 100 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(a) 786 1,636 Hiland Partners Holdings LLC, senior notes, 5.50% and 7.25%, due 2020 and 2022 974 974 EPC Building, LLC, promissory note, 3.967%, due 2016 through 2035 440 443 Trust I preferred securities, 4.75%, due March 31, 2028 221 221 KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock 100 100 Other miscellaneous debt 299 300 Total debt – KMI and Subsidiaries 41,895 41,553 Less: Current portion of debt(a)(d) 1,702 821 Total long-term debt – KMI and Subsidiaries(e) $ 40,193 $ 40,732 _______ (a) On January 26, 2016, we entered into a $1.0 billion three -year unsecured term loan facility with a variable interest rate, which is determined in the same manner as interest on our revolving credit facility borrowings. In January 2016, we repaid $850 million of maturing 5.70% senior notes, and in February 2016, we repaid $250 million of maturing 8.00% senior notes primarily using proceeds from the three-year term loan. (b) Amount includes senior notes that are denominated in Euros and have been converted and are respectively reported above at the March 31, 2016 exchange rate of 1.1380 U.S. dollars per Euro and the December 31, 2015 exchange rate of 1.0862 U.S. dollars per Euro. For the three months ended March 31, 2016 , our debt increased by $65 million as a result of the change in the exchange rate of U.S. dollars per Euro. At the time of issuance, we entered into cross-currency swap agreements associated with these senior notes, effectively converting these Euro-denominated senior notes to U.S. dollars (see Note 5 “Risk Management— Foreign Currency Risk Management ”). (c) As of March 31, 2016 , the weighted average interest rate on our credit facility borrowings, including commercial paper borrowings, was 1.86% . (d) Amounts include outstanding credit facility borrowings, commercial paper borrowings and other debt maturing within 12 months (see “—Current Portion of Debt” below). (e) Excludes our “Debt fair value adjustments” which, as of March 31, 2016 and December 31, 2015 , increased our combined debt balances by $1,912 million and $1,674 million , respectively. In addition to all unamortized debt discount/premium amounts, debt issuance costs and purchase accounting on our debt balances, our debt fair value adjustments also include amounts associated with the offsetting entry for hedged debt and any unamortized portion of proceeds received from the early termination of interest rate swap agreements. We and substantially all of our wholly owned domestic subsidiaries are a party to 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. Also, see Note 11. Credit Facilities On January 26, 2016, in accordance with the terms of our revolving credit agreement, we increased the capacity of our revolving credit agreement from $4.0 billion to $5.0 billion . The other terms of the revolving credit agreement remain the same. Our availability under this facility as of March 31, 2016 was $3,937 million , which is net of borrowings, and $115 million in letters of credit. 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. Borrowings under our commercial paper program reduce the borrowings allowed under our credit facility. Current Portion of Debt In addition to outstanding credit facility borrowings, commercial paper borrowings, and other debt maturing within 12 months, our current portion of debt includes the current portion of the following significant series of long-term notes: 2016 $600 million 6.00% notes due February 2017 2015 $500 million 3.50% notes due March 2016 Long-term Debt Issuances and Repayments The following are significant long-term debt issuances and repayments made during the three months ended March 31, 2016 : Issuances $1.0 billion unsecured term loan facility due 2019 Repayments $850 million 5.70% notes due 2016 $500 million 3.50% notes due 2016 $250 million 8.00% notes due 2016 $67 million 8.25% notes due 2016 |
Stockholders' Equity (Notes)
Stockholders' Equity (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Stockholders’ Equity Common Equity As of March 31, 2016 , our common equity consisted of our Class P common stock. For additional information regarding our Class P common stock, see Note 11 to our consolidated financial statements included in our 2015 Form 10-K. Common Dividends Holders of our common stock participate 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, 2016 2015 Per common share cash dividend declared for the period $ 0.125 $ 0.48 Per common share cash dividend paid in the period $ 0.125 $ 0.45 On April 20, 2016 , our board of directors declared a cash dividend of $0.125 per common share for the quarterly period ended March 31, 2016 , which is payable on May 16, 2016 to common shareholders of record as of May 2, 2016 . Mandatory Convertible Preferred Stock On October 30, 2015, we completed an offering of 32,000,000 depositary shares, each of which represents a 1/20th interest in a share of our 1,600,000 shares of 9.750% Series A mandatory convertible preferred stock, with a liquidating preference of $1,000 per share (equal to a $50 liquidation preference per depositary share). For additional information regarding our mandatory convertible preferred stock, see Note 11 to our consolidated financial statements included in our 2015 Form 10-K. Preferred Dividends On January 20, 2016, our board of directors declared a cash dividend of $24.375 per share of our mandatory convertible preferred stock (equivalent of $1.21875 per depositary share) for the period from and including January 26, 2016 through and including April 25, 2016, which is payable on April 26, 2016 to mandatory convertible preferred shareholders of record as of April 11, 2016. |
Risk Management (Notes)
Risk Management (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
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 power forward and swap contracts related to legacy operations of acquired businesses for which we entered into positions that offset the price risks associated with these contracts. Energy Commodity Price Risk Management As of March 31, 2016 , we had 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 (21.4 ) MMBbl Crude oil basis (5.6 ) MMBbl Natural gas fixed price (41.0 ) Bcf Natural gas basis (31.5 ) Bcf Derivatives not designated as hedging contracts Crude oil fixed price (0.4 ) MMBbl Crude oil basis (1.0 ) MMBbl Natural gas fixed price (13.0 ) Bcf Natural gas basis (1.8 ) Bcf NGL and other fixed price (2.5 ) MMBbl As of March 31, 2016 , 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 2020. Interest Rate Risk Management As of March 31, 2016 , we had a combined notional principal amount of $9,775 million of fixed-to-variable interest rate swap agreements, of which $8,475 million were designated as fair value hedges. As of December 31, 2015 , we had a combined notional principal amount of $11,000 million of fixed-to-variable interest rate swap agreements, of which $9,700 million were designated as fair value hedges. All of our swap agreements effectively convert 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 plus a spread and have termination dates that correspond to the maturity dates of the related series of senior notes. As of March 31, 2016 , 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. Foreign Currency Risk Management In connection with the issuance of our Euro denominated senior notes in March 2015 (see Note 3), we entered into $1,358 million 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, Location Fair value Fair value Derivatives designated as hedging contracts Natural gas and crude derivative contracts Fair value of derivative contracts/(Other current liabilities) $ 287 $ 359 $ (8 ) $ (13 ) Deferred charges and other assets/(Other long-term liabilities and deferred credits) 226 244 (2 ) — Subtotal 513 603 (10 ) (13 ) Interest rate swap agreements Fair value of derivative contracts/(Other current liabilities) 126 111 — — Deferred charges and other assets/(Other long-term liabilities and deferred credits) 529 273 — (9 ) Subtotal 655 384 — (9 ) Cross-currency swap agreements Fair value of derivative contracts/(Other current liabilities) — — (29 ) (6 ) Deferred charges and other assets/(Other long-term liabilities and deferred credits) 56 — — (46 ) Subtotal 56 — (29 ) (52 ) Total 1,224 987 (39 ) (74 ) Derivatives not designated as hedging contracts Natural gas, crude, NGL and other derivative contracts Fair value of derivative contracts/(Other current liabilities) 27 35 (4 ) (1 ) Subtotal 27 35 (4 ) (1 ) Interest rate swap agreements Fair value of derivative contracts/(Other current liabilities) 11 1 — (11 ) Deferred charges and other assets/(Other long-term liabilities and deferred credits) 27 — — (5 ) Subtotal 38 1 — (16 ) Power derivative contracts Fair value of derivative contracts/(Other current liabilities) 3 1 (6 ) (17 ) Subtotal 3 1 (6 ) (17 ) Total 68 37 (10 ) (34 ) Total derivatives $ 1,292 $ 1,024 $ (49 ) $ (108 ) 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 Gain/(loss) recognized in income on derivatives and related hedged item Three Months Ended March 31, 2016 2015 Interest rate swap agreements Interest, net $ 280 $ 145 Hedged fixed rate debt Interest, net $ (284 ) $ (139 ) Derivatives in cash flow hedging relationships Gain/(loss) recognized in OCI on derivative (effective portion)(a) Location Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) Location Gain/(loss) recognized in income 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, 2016 2015 2016 2015 2016 2015 Energy commodity derivative contracts $ 27 $ 35 Revenues—Natural gas sales $ 21 $ 24 Revenues—Natural gas sales $ — $ — Revenues—Product sales and other 57 64 Revenues—Product sales and other 1 7 Costs of sales (10 ) (5 ) Costs of sales — — Interest rate swap agreements(c) (4 ) (3 ) Interest, net (1 ) (1 ) Interest, net — — Cross-currency swap 50 (34 ) Other, net 41 (10 ) Other, net — — Total $ 73 $ (2 ) Total $ 108 $ 72 Total $ 1 $ 7 _________ (a) We expect to reclassify an approximate $132 million gain associated with cash flow hedge price risk management activities included in our accumulated other comprehensive loss balances as of March 31, 2016 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). (c) Amounts represent our share of an equity investee’s accumulated other comprehensive income (loss). Derivatives not designated as accounting hedges Location Gain/(loss) recognized in income on derivatives Three Months Ended March 31, 2016 2015 Energy commodity derivative contracts Revenues—Natural gas sales $ 6 $ 4 Revenues—Product sales and other (2 ) 45 Costs of sales (5 ) (3 ) Interest rate swap agreements Interest, net 53 — Total(a) $ 52 $ 46 _______ (a) The three months ended March 31, 2016 and 2015 include an approximate gain of $19 million and loss of $5 million , respectively, associated with natural gas, crude and NGL derivative contract settlements. Credit Risks In conjunction with certain derivative contracts, 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, 2016 and December 31, 2015 , we had $2 million of outstanding letters of credit supporting our commodity price risk management program. As of March 31, 2016 and December 31, 2015, we had cash margins of $1 million and $0 , respectively, posted by us as collateral and $8 million and $37 million , respectively, posted by our counterparties 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, 2016 , based on our current mark to market positions and posted collateral, we estimate that if our credit rating were downgraded one or two notches, we would not be required to post additional collateral. Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Loss 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 gains/(losses) on cash flow hedge derivatives Foreign currency translation adjustments Pension and other postretirement liability adjustments Total accumulated other comprehensive loss Balance as of December 31, 2015 $ 219 $ (322 ) $ (358 ) $ (461 ) Other comprehensive gain before reclassifications 73 78 4 155 (Gains) losses reclassified from accumulated other comprehensive income (loss) (108 ) — — (108 ) Net current-period other comprehensive gain (35 ) 78 4 47 Balance as of March 31, 2016 $ 184 $ (244 ) $ (354 ) $ (414 ) Net unrealized gains/(losses) on cash flow hedge derivatives Foreign currency translation adjustments Pension and other postretirement liability adjustments Total accumulated other comprehensive loss Balance as of December 31, 2014 $ 327 $ (108 ) $ (236 ) $ (17 ) Other comprehensive loss before reclassifications (2 ) (108 ) 6 (104 ) (Gains) losses reclassified from accumulated other comprehensive income (loss) (72 ) — — (72 ) Net current-period other comprehensive loss (74 ) (108 ) 6 (176 ) Balance as of March 31, 2015 $ 253 $ (216 ) $ (230 ) $ (193 ) |
Fair Value (Notes)
Fair Value (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
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 fair value measurements by level Net amount Level 1 Level 2 Level 3 Gross amount Contracts available for netting Cash collateral held(b) As of March 31, 2016 Energy commodity derivative contracts(a) $ 20 $ 520 $ 3 $ 543 $ (12 ) $ (8 ) $ 523 Interest rate swap agreements $ — $ 693 $ — $ 693 $ — $ — $ 693 Cross-currency swap agreements $ — $ 56 $ — $ 56 $ (29 ) $ — $ 27 As of December 31, 2015 Energy commodity derivative contracts(a) $ 48 $ 589 $ 2 $ 639 $ (12 ) $ (37 ) $ 590 Interest rate swap agreements $ — $ 385 $ — $ 385 $ (8 ) $ — $ 377 Cross-currency swap agreements $ — $ — $ — $ — $ — $ — $ — Balance sheet liability fair value measurements by level Net amount Level 1 Level 2 Level 3 Gross amount Contracts available for netting Collateral posted(c) As of March 31, 2016 Energy commodity derivative contracts(a) $ (2 ) $ (13 ) $ (5 ) $ (20 ) $ 12 $ 1 $ (7 ) Interest rate swap agreements $ — $ — $ — $ — $ — $ — $ — Cross-currency swap agreements $ — $ (29 ) $ — $ (29 ) $ 29 $ — $ — As of December 31, 2015 Energy commodity derivative contracts(a) $ (4 ) $ (10 ) $ (17 ) $ (31 ) $ 12 $ — $ (19 ) Interest rate swap agreements $ — $ (25 ) $ — $ (25 ) $ 8 $ — $ (17 ) Cross-currency swap agreements $ — $ (52 ) $ — $ (52 ) $ — $ — $ (52 ) _______ (a) Level 1 consists primarily of New York Mercantile Exchange natural gas futures. Level 2 consists primarily of OTC West Texas Intermediate 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, 2016 2015 Derivatives-net asset (liability) Beginning of Period $ (15 ) $ (61 ) Total gains or (losses) included in earnings (6 ) — Settlements 19 12 End of Period $ (2 ) $ (49 ) 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 $ 1 As of March 31, 2016 , 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 is disclosed below (in millions): March 31, 2016 December 31, 2015 Carrying value Estimated fair value Carrying value Estimated fair value Total debt $ 43,807 $ 40,861 $ 43,227 $ 37,481 We used Level 2 input values to measure the estimated fair value of our outstanding debt balances as of both March 31, 2016 and December 31, 2015 . |
Reportable Segments (Notes)
Reportable Segments (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Reportable Segments | Reportable Segments Financial information by segment follows (in millions): Three Months Ended March 31, 2016 2015 Revenues Natural Gas Pipelines Revenues from external customers $ 1,970 $ 2,177 Intersegment revenues 1 3 CO 2 302 446 Terminals 465 457 Products Pipelines Revenues from external customers 391 444 Intersegment revenues 5 — Kinder Morgan Canada 59 60 Other — 4 Total segment revenues 3,193 3,591 Other revenues 8 9 Less: Total intersegment revenues (6 ) (3 ) Total consolidated revenues $ 3,195 $ 3,597 Three Months Ended March 31, 2016 2015 Segment EBDA(a) Natural Gas Pipelines $ 992 $ 1,015 CO 2 186 336 Terminals 253 270 Products Pipelines 179 246 Kinder Morgan Canada 40 41 Other (8 ) (6 ) Total segment EBDA 1,642 1,902 Total segment DD&A (551 ) (538 ) Total segment amortization of excess cost of equity investments (14 ) (12 ) Other revenues 8 9 General and administrative expense (190 ) (216 ) Interest expense, net of unallocable interest income (442 ) (514 ) Unallocable income tax expense (139 ) (212 ) Total consolidated net income $ 314 $ 419 March 31, December 31, Assets Natural Gas Pipelines $ 53,456 $ 53,704 CO 2 4,548 4,706 Terminals 9,467 9,083 Products Pipelines 8,512 8,464 Kinder Morgan Canada 1,542 1,434 Other 344 418 Total segment assets 77,869 77,809 Corporate assets(b) 6,337 6,276 Assets held for sale 23 19 Total consolidated assets $ 84,229 $ 84,104 _______ (a) We evaluate performance based on each segment’s EBDA. 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 and disposals of long-lived assets, net 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, deferred tax assets, 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. |
Income Taxes (Notes)
Income Taxes (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
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, 2016 2015 Income tax expense $ 154 $ 224 Effective tax rate 32.9 % 34.8 % The effective tax rate for the three months ended March 31, 2016 is lower than the statutory federal rate of 35% primarily due to dividend-received deductions from our investment in Florida Gas Pipeline (Citrus) and adjustments to our income tax reserve for uncertain tax positions, partially offset by state and foreign income taxes. The effective tax rate for the three months ended March 31, 2015 is lower than the statutory federal rate of 35% primarily due to dividend-received deductions from our investments in Citrus and Plantation Pipe Line Company and the change in the effective state tax rate as a result of the Hiland acquisition, partially offset by state income taxes. As of March 31, 2016 , the total amount of unrecognized tax benefits including interest and penalties relating to uncertain tax positions is $142 million , a decrease of $31 million from the December 31, 2015 balance of $173 million . This $31 million decrease in unrecognized tax benefits resulted primarily from the settlement of a state tax audit and certain statute of limitations expiration on another matter. |
Litigation, Environmental and O
Litigation, Environmental and Other Contingencies (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
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 or certain predecessor operations 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 and insurance, 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 the most recent of which was filed in late 2015 with the FERC (docketed at OR16-6) challenging SFPP’s filed East Line rates. 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 some of these proceedings shippers have challenged the overall rate being charged by SFPP, and in others the shippers have challenged SFPP’s index-based rate increases. 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 SFPP may include in its rates. With respect to the various SFPP related complaints and protest proceedings at the FERC, we estimate that the shippers are seeking approximately $40 million in annual rate reductions and approximately $169 million in refunds. Management believes SFPP has meritorious arguments supporting SFPP’s rates and intends to vigorously defend SFPP against these complaints and protests. However, to the extent the shippers are successful in one or more of the complaints or protest proceedings, SFPP estimates that applying the principles of several recent FERC decisions in SFPP cases, as applicable, to pending cases would result in rate reductions and refunds substantially lower than those sought by the shippers. 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-A) in July 2015. The FERC generally upheld its prior determinations, ordered refunds to be paid within 60 days, and stated that it will apply its findings in Opinion 517-A to the same issues in the 2010 rate case. EPNG has sought federal appellate review of Opinion 517-A. With respect to the 2010 rate case, the FERC issued its decision (Opinion 528-A) on February 18, 2016. The FERC generally upheld its prior determinations, affirmed prior findings of an Administrative Law Judge that certain shippers qualify for lower rates, and required EPNG to file revised pro forma recalculated rates consistent with the terms of Opinions 517-A and 528-A. EPNG has sought rehearing of certain aspects of the decision. All refund obligations related to the 2008 rate case were satisfied during calendar year 2015. With respect to the 2010 rate case, EPNG believes it has an appropriate reserve related to the findings in Opinions 517-A and 528-A. 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. SFPP appealed the judgment. 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, which SFPP rejected. 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 review to the California Supreme Court which was denied. The trial court has not set a date for the retrial. After the above-referenced decision by the California Court of Appeals which held that UPRR does not own the subsurface rights to grant certain easements and may not be able to collect rent from those easements, a purported class action lawsuit was filed in 2015 in the U.S. District Court for the Southern District of California by private landowners in California who claim to be the lawful owners of subsurface real property allegedly used or occupied by UPRR or SFPP. Substantially similar follow-on lawsuits were filed and are pending in federal courts by landowners in Nevada, Arizona and New Mexico. These suits, which are brought purportedly as class actions on behalf of all landowners who own land in fee adjacent to and underlying the railroad easement under which the SFPP pipeline is located in those respective states, assert 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 arising from defendants’ alleged improper use or occupation of subsurface real property. SFPP views these cases as primarily a dispute between UPRR and the plaintiffs. UPRR purported to grant SFPP a network of subsurface pipeline easements along UPRR’s railroad right-of-way. SFPP relied on the validity of those easements and paid rent to UPRR for the value of those easements. We believe we have recorded a right-of-way liability sufficient to cover our potential obligation, if any, for back rent. SFPP and UPRR have engaged in multiple disputes over the circumstances under which SFPP must pay for relocations of its pipeline within the UPRR right-of-way and the safety standards that govern relocations. In 2006, following a bench trial regarding the circumstances under which SFPP must pay for relocations, the judge determined that SFPP must pay for any relocations resulting from any legitimate business purpose of the UPRR. The decision was affirmed on appeal. 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 has sought declaratory relief with respect to its positions regarding the application of these standards with respect to relocations. In 2011, a jury verdict was reached that SFPP was obligated to comply with AREMA standards in connection with a railroad project in Beaumont Hills, California. In 2014, the trial court entered judgment against SFPP, consistent with the jury’s verdict. On June 29, 2015, the parties entered into a confidential settlement of all of the claims relating to the project in Beaumont Hills and the case was dismissed. 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. Gulf LNG Facility Arbitration On March 1, 2016, Gulf LNG Energy, LLC and Gulf LNG Pipeline, LLC (GLNG) received a Notice of Disagreement and Disputed Statements and a Notice of Arbitration from Eni USA Gas Marketing LLC (Eni USA), one of two companies that entered into a terminal use agreement for capacity of the Gulf LNG Facility in Mississippi for an initial term that is not scheduled to expire until the year 2031. Eni USA is an indirect subsidiary of Eni S.p.A., a multi-national integrated energy company headquartered in Milan, Italy. Pursuant to its Notice of Arbitration, Eni USA seeks declaratory and monetary relief based upon its assertion that (i) the terminal use agreement should be terminated because changes in the U.S. natural gas market since the execution of the agreement in December 2007 have “frustrated the essential purpose” of the agreement and (ii) activities allegedly undertaken by affiliates of Gulf LNG Holdings Group LLC “in connection with a plan to convert the LNG Facility into a liquefaction/export facility have given rise to a contractual right on the part of Eni USA to terminate” the agreement. As set forth in the terminal use agreement, disputes are meant to be resolved by final and binding arbitration. No date has been set for the arbitration hearing. Eni USA has indicated that it shall continue to pay the amounts claimed to be due pending resolution of the dispute. The successful assertion by Eni USA of its claim to terminate or amend its payment obligations under the agreement prior to the expiration of its initial term could have an adverse effect on the business, financial position, results of operations, or cash flows of GLNG and distributions to KMI, a 50% shareholder of GLNG. We view the allegations in the demand for arbitration to be without merit, and we intend to vigorously contest them in the arbitration. 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 151 st 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, 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 that EPB overpaid for Elba. 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, 2015, the Court denied our motion to dismiss the remaining claims in Brinckerhoff II based upon our acquisition of all of the outstanding common units of EPB, and held that damages should be calculated by considering the unaffiliated unitholders’ ownership percentage as of the effective date of the merger. Based on this ruling, the Court entered judgment on February 4, 2016 in the amount of $100.2 million plus interest at the legal rate for the period from November 15, 2010 until the date of payment, if any payment is ultimately required. We have filed an appeal to the Delaware Supreme Court. Execution on the judgment has been stayed until the appeal is decided. 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 the transactions at issue were appropriate and in the best interests of EPB and we intend to continue to defend the lawsuits vigorously. 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 9 th Circuit Court of Appeals. The U.S. Supreme Court affirmed the 9 th Circuit Court of Appeals in a decision dated April 21, 2015, and the cases were then remanded to the Nevada federal court for 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). On December 12, 2014, the plaintiffs filed a Verified Second Consolidated Amended Class Action Complaint, which purported 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 alleged 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 sought 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. On August 24, 2015, the Court issued an order granting the defendants’ motion to dismiss the remaining counts of the complaint for failure to state a claim. On September 21, 2015, plaintiffs filed a notice of appeal to the Supreme Court of the State of Delaware, captioned Haynes Family Trust et al. v. Kinder Morgan G.P., Inc. et al. (Case No. 515). The plaintiffs only appealed the dismissal of claims brought against defendants KMGP, Ted A. Gardner, Gary L. Hultquist, and Perry M. Waughtal and not those asserted against KMI, P. Merger Sub LLC, Richard D. Kinder, Steven J. Kean, KMP and KMR. On March 10, 2016, the Delaware Supreme Court affirmed the dismissal of all claims on appeal and this matter is now concluded. 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, 2016 and December 31, 2015, our total reserve for legal matters was $481 million and $463 million , respectively. The reserve primarily relates to various claims from regulatory proceedings arising in our products and natural gas pipeline segments and certain 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 CO 2 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 CO 2 . 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 (ROD). 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. Following a dispute with the EPA concerning certain provisions of the FS, the parties agreed that the EPA would complete the FS, and that the LWG may dispute the FS within fourteen days of the publication of the proposed remedy for cleanup. We expect the FS and proposed remedy will be completed by the EPA in the second quarter of 2016, and expect the EPA to make a final cleanup decision and publish the ROD by the end of 2016. The allocation process will follow the issuance of the ROD with an expected completion date of 2018. We anticipate that the cleanup activities will begin within two years after the ROD is issued. 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 and fact discovery is proceeding. 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 and was removed in 2007 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. On May 21, 2015, the Court of Appeals issued a memorandum decision which affirmed the District Court’s summary judgment in our favor with respect to the City’s claim under California Safe Drinking Water and Toxic Enforcement Act, but reversed both the District Court’s summary judgment decision in our favor on the City’s remaining claims and the District Court’s decision to exclude the City’s expert testimony. The Court of Appeals issued a mandate returning the case to the U.S. District Court. On January 25, 2016, the District Court heard oral argument on motions we previously filed to exclude certain expert testimony offered by the City and for partial summary judgment on the City’s claims. By its Order dated February 2, 2016, the Court granted in part and denied in part our motion to exclude certain expert testimony, granted in part and denied in part our motion for partial summary judgment, found that the City is limited to seeking alleged damages relating to the three year period immediately preceding the filing of the lawsuit, found that the City lacks expert opinions or testimony to support its claim for water damages, including the alleged loss of use of the Mission Valley aquifer as a source of both supply and storage of potable water, and denied our motion for partial summary judgment on the City’s alleged real estate and restoration damages. As a result of the Court’s Order, the City’s alleged damages should be reduced from approximately $365 million to approximately $160 million . Trial is scheduled to begin June 7, 2016. We intend to continue to vigorously defend the case. This site remains 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 2015 as part of the compliance evaluation required by the RWQCB. SFPP expects the RWQCB to issue a notice of no further action with respect to the stadium property site. 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. The counterclaim of defendant EPA has been settled, and no viable claims for reimbursement by the other defendants are known to exist. 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 (PRPs) 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 AO |
Recent Accounting Pronouncement
Recent Accounting Pronouncements (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
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 us as of January 1, 2018. Early adoption is permitted for the interim periods within the adoption year. We are currently reviewing the effect of ASU No. 2014-09 on our revenue recognition and assessing the timing of our adoption. 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. We adopted ASU No. 2015-02 effective January 1, 2016 with no material impact to our financial statements. ASU No. 2015-11 On July 22, 2015, the FASB issued ASU No. 2015-11, “ Inventory (Topic 330): Simplifying the Measurement of Inventory .” This ASU requires entities to subsequently measure inventory at the lower of cost and net realizable value, and defines net realizable value as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. ASU No. 2015-11 will be effective for us as of January 1, 2017. We are currently reviewing the effect of ASU No. 2015-11. ASU No. 2016-02 On February 25, 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) .” This ASU requires that lessees will be required to recognize assets and liabilities on the balance sheet for the present value of the rights and obligations created by all leases with terms of more than 12 months. The ASU also will require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 will be effective for us as of January 1, 2019. We are currently reviewing the effect of ASU No. 2016-02. ASU No. 2016-05 On March 10, 2016, the FASB issued ASU 2016-05, “ Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships .” This ASU clarifies that for the purposes of applying the guidance in Topic 815, a change in the counterparty to a derivative instrument that has been designated as the hedging instrument in an existing hedging relationship would not, in and of itself, be considered a termination of the derivative instrument. We adopted ASU 2016-05 in the first quarter of 2016 with no material impact to our financial statements. ASU No. 2016-09 On March 30, 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718).” This ASU was issued as part of the FASB’s simplification initiative and affects all entities that issue share-based payment awards to their employees. This ASU covers accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU No. 2016-09 will be effective for us as of January 1, 2017. We are currently reviewing the effect of ASU No. 2016-09. |
Guarantee of Securities of Subs
Guarantee of Securities of Subsidiaries (Notes) | 3 Months Ended |
Mar. 31, 2016 | |
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, KMP, Copano and substantially all of KMI’s wholly owned domestic subsidiaries, 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 Subsidiary Non-Guarantors, 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. Excluding fair value adjustments, as of March 31, 2016 , Parent Issuer and Guarantor, Subsidiary Issuer and Guarantor-KMP, Subsidiary Issuer and Guarantor-Copano, and Subsidiary Guarantors had $15,291 million , $19,485 million , $332 million , and $5,784 million , respectively, of Guaranteed Notes outstanding. Included in the Subsidiary Guarantors debt balance as presented in the accompanying March 31, 2016 condensed consolidating balance sheets is approximately $174 million 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 Subsidiary Non-Guarantors. 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 December 31, 2015, Kinder Morgan (Delaware), Inc. and Kinder Morgan Services LLC merged into KMI. As a result of such merger, both entities are no longer Subsidiary Guarantors, and for all periods presented, financial statement balances and activities for Kinder Morgan (Delaware), Inc. and Kinder Morgan Services LLC are reflected within the Parent Issuer and Guarantor column. Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2016 (In Millions) (Unaudited) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Total Revenues $ 9 $ — $ — $ 2,825 $ 370 $ (9 ) $ 3,195 Operating Costs, Expenses and Other Costs of sales — — — 652 76 3 731 Depreciation, depletion and amortization 5 — — 456 90 — 551 Other operating expenses 19 2 — 813 275 (12 ) 1,097 Total Operating Costs, Expenses and Other 24 2 — 1,921 441 (9 ) 2,379 Operating (loss) income (15 ) (2 ) — 904 (71 ) — 816 Other Income (Expense) Earnings from consolidated subsidiaries 658 597 7 13 14 (1,289 ) — Earnings from equity investments — — — 94 — — 94 Interest, net (170 ) 63 (12 ) (309 ) (13 ) — (441 ) Amortization of excess cost of equity investments and other, net — — — (5 ) 4 — (1 ) Income (Loss) Before Income Taxes 473 658 (5 ) 697 (66 ) (1,289 ) 468 Income Tax (Expense) Benefit (158 ) (2 ) — 6 — — (154 ) Net Income (Loss) 315 656 (5 ) 703 (66 ) (1,289 ) 314 Net Loss Attributable to Noncontrolling Interests — — — — — 1 1 Net Income (Loss) Attributable to Controlling Interests 315 656 (5 ) 703 (66 ) (1,288 ) 315 Preferred Stock Dividends (39 ) — — — — — (39 ) Net Income (Loss) Available to Common Stockholders $ 276 $ 656 $ (5 ) $ 703 $ (66 ) $ (1,288 ) $ 276 Net Income (loss) $ 315 $ 656 $ (5 ) $ 703 $ (66 ) $ (1,289 ) $ 314 Total other comprehensive income (loss) 47 52 — (6 ) 124 (170 ) 47 Comprehensive income (loss) 362 708 (5 ) 697 58 (1,459 ) 361 Comprehensive loss attributable to noncontrolling interests — — — — — 1 1 Comprehensive income (loss) attributable to controlling interests $ 362 $ 708 $ (5 ) $ 697 $ 58 $ (1,458 ) $ 362 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 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 799 883 (23 ) 14 16 (1,689 ) — Earnings from equity investments — — — 76 — — 76 Interest, net (155 ) (27 ) (12 ) (304 ) (14 ) — (512 ) Amortization of excess cost of equity investments and other, net — — — (3 ) 4 — 1 Income (Loss) Before Income Taxes 636 818 (36 ) 881 33 (1,689 ) 643 Income Tax Expense (207 ) (2 ) — (14 ) (1 ) — (224 ) Net Income (Loss) 429 816 (36 ) 867 32 (1,689 ) 419 Net Loss Attributable to Noncontrolling Interests — — — — — 10 10 Net Income (Loss) Attributable to Controlling Interests $ 429 $ 816 $ (36 ) $ 867 $ 32 $ (1,679 ) $ 429 Net Income (loss) $ 429 $ 816 $ (36 ) $ 867 $ 32 $ (1,689 ) $ 419 Total other comprehensive loss (176 ) (238 ) — (196 ) (164 ) 598 (176 ) Comprehensive income (loss) 253 578 (36 ) 671 (132 ) (1,091 ) 243 Comprehensive loss attributable to noncontrolling interests — — — — — 10 10 Comprehensive income (loss) attributable to controlling interests $ 253 $ 578 $ (36 ) $ 671 $ (132 ) $ (1,081 ) $ 253 Condensed Consolidating Balance Sheets as of December 31, 2015 (In Millions) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI ASSETS Cash and cash equivalents $ 123 $ — $ — $ 12 $ 142 $ (48 ) $ 229 Other current assets - affiliates 2,233 1,600 — 9,451 695 (13,979 ) — All other current assets 126 119 — 2,163 195 (8 ) 2,595 Property, plant and equipment, net 252 — — 32,195 8,100 — 40,547 Investments 16 2 — 5,906 116 — 6,040 Investments in subsidiaries 27,401 28,038 2,341 4,361 3,320 (65,461 ) — Goodwill 15,089 22 287 5,221 3,171 — 23,790 Notes receivable from affiliates 850 21,319 — 2,070 380 (24,619 ) — Deferred income taxes 7,501 — — — — (2,178 ) 5,323 Other non-current assets 215 307 1 4,943 114 — 5,580 Total assets $ 53,806 $ 51,407 $ 2,629 $ 66,322 $ 16,233 $ (106,293 ) $ 84,104 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Current portion of debt $ 67 $ 500 $ — $ 132 $ 122 $ — $ 821 Other current liabilities - affiliates 1,328 8,682 39 3,216 714 (13,979 ) — All other current liabilities 321 458 7 1,987 527 (56 ) 3,244 Long-term debt 13,845 20,053 378 7,447 683 — 42,406 Notes payable to affiliates 2,404 448 622 19,840 1,305 (24,619 ) — Deferred income taxes — — 2 594 1,582 (2,178 ) — Other long-term liabilities and deferred credits 722 193 — 907 408 — 2,230 Total liabilities 18,687 30,334 1,048 34,123 5,341 (40,832 ) 48,701 Stockholders’ equity Total KMI equity 35,119 21,073 1,581 32,199 10,892 (65,745 ) 35,119 Noncontrolling interests — — — — — 284 284 Total stockholders’ Equity 35,119 21,073 1,581 32,199 10,892 (65,461 ) 35,403 Total Liabilities and Stockholders’ Equity $ 53,806 $ 51,407 $ 2,629 $ 66,322 $ 16,233 $ (106,293 ) $ 84,104 Condensed Consolidating Statements of Cash Flows for the Three Months Ended March 31, 2016 (In Millions) (Unaudited) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Net cash (used in) provided by operating activities $ (733 ) $ 1,830 $ (131 ) $ 2,377 $ 15 $ (2,308 ) $ 1,050 Cash flows from investing activities Funding to affiliates (1,360 ) (759 ) — (869 ) (109 ) 3,097 — Capital expenditures (24 ) — — (340 ) (447 ) — (811 ) Contributions to investments (31 ) — — (10 ) (3 ) — (44 ) Acquisitions of assets and investments, net of cash acquired — — — (330 ) — — (330 ) Distributions from equity investments in excess of cumulative earnings 790 — — 29 — (776 ) 43 Other, net — (30 ) — 30 (2 ) — (2 ) Net cash used in investing activities (625 ) (789 ) — (1,490 ) (561 ) 2,321 (1,144 ) Cash flows from financing activities Issuances of debt 4,610 — — — — — 4,610 Payments of debt (2,729 ) (500 ) — (1,104 ) (3 ) — (4,336 ) Funding (to) from affiliates (314 ) 881 131 1,878 521 (3,097 ) — Debt issue costs (6 ) — — — — — (6 ) Cash dividends - common shares (279 ) — — — — — (279 ) Cash dividends - preferred shares (37 ) — — — — — (37 ) Contributions from parents — — — — 87 (87 ) — Contributions from noncontrolling interests — — — — — 87 87 Distributions to parents — (1,422 ) — (1,660 ) (41 ) 3,123 — Distributions to noncontrolling interests — — — — — (4 ) (4 ) Net cash provided by (used in) financing activities 1,245 (1,041 ) 131 (886 ) 564 22 35 Effect of exchange rate changes on cash and cash equivalents — — — — 5 — 5 Net (decrease) increase in cash and cash equivalents (113 ) — — 1 23 35 (54 ) Cash and cash equivalents, beginning of period 123 — — 12 142 (48 ) 229 Cash and cash equivalents, end of period $ 10 $ — $ — $ 13 $ 165 $ (13 ) $ 175 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 Net cash (used in) provided by operating activities $ (300 ) $ 3,675 $ 139 $ 500 $ (167 ) $ (2,591 ) $ 1,256 Cash flows from investing activities Funding to affiliates (691 ) (4,664 ) — (1,364 ) (96 ) 6,815 — Capital expenditures (18 ) — (2 ) (786 ) (95 ) 4 (897 ) Contributions to investments — — — (30 ) — — (30 ) Investment in KMP (159 ) — — — — 159 — Acquisitions of assets and investments, net of cash acquired (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 (2,563 ) (4,695 ) 2 (2,295 ) (198 ) 6,974 (2,775 ) Cash flows from financing activities Issuances of debt 7,136 — — — — — 7,136 Payments of debt (5,967 ) (300 ) — (36 ) (2 ) — (6,305 ) Funding from (to) affiliates 1,055 2,311 (141 ) 3,256 334 (6,815 ) — Debt issue costs (16 ) — — — — — (16 ) Issuances of common 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 2,872 1,020 (141 ) 1,818 282 (4,383 ) 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 |
General (Policies)
General (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
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, unless 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 2015 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, which may be stock or stock units issued to management employees and include dividend equivalent payments, do not participate in excess distributions over earnings. |
General (Tables)
General (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 of Class P shares and participating securities and the reconciliation of Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding (in millions): Three Months Ended March 31, 2016 2015 Class P $ 275 $ 426 Participating securities: Restricted stock awards(a) 1 3 Net Income Available to Common Stockholders $ 276 $ 429 Three Months Ended March 31, 2016 2015 Basic Weighted Average Common Shares Outstanding 2,229 2,141 Effect of dilutive securities: Warrants — 10 Diluted Weighted Average Common Shares Outstanding 2,229 2,151 ________ (a) As of March 31, 2016 , there were approximately 8 million such restricted stock awards. |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The following maximum number of 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, 2016 2015 Unvested restricted stock awards 8 7 Warrants to purchase our Class P shares(a) 293 289 Convertible trust preferred securities 8 9 Mandatory convertible preferred stock(b) 58 n/a |
Acquisitions (Tables)
Acquisitions (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Business Acquisition [Line Items] | |
Schedule of Purchase Price Allocation [Table Text Block] | The evaluation of the assigned fair values for the BP terminals acquisition is ongoing and subject to adjustment. As of March 31, 2016 , our preliminary allocation of the purchase price for the BP terminals acquisition and the adjusted purchase price allocations for the Hiland acquisition and Royal Vopak terminals acquisition, both completed in February 2015, are detailed below (in millions). Acquisitions BP Terminal Assets Hiland Royal Vopak Terminal Assets Purchase Price Allocation: Current assets $ 2 $ 79 $ 2 Property, plant and equipment 395 1,492 155 Goodwill — 310 6 Deferred charges and other assets(a) — 1,498 — Total assets acquired 397 3,379 163 Current liabilities — (253 ) (1 ) Debt — (1,413 ) — Other liabilities (49 ) (4 ) (4 ) Cash consideration $ 348 $ 1,709 $ 158 _______ (a) Primarily consists of customer contracts and relationships with a weighted average amortization period of 16.4 years |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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, premiums and issuance costs (in millions): March 31, 2016 December 31, 2015 KMI Unsecured term loan facility, variable rate, due January 26, 2019(a) $ 1,000 $ — Senior notes, 1.50% through 8.25%, due 2016 through 2098(b) 13,344 13,346 Credit facility due November 26, 2019(c) 900 — Commercial paper borrowings(c) 48 — KMP Senior notes, 2.65% through 9.00%, due 2016 through 2044 19,485 19,985 TGP senior notes, 7.00% through 8.375%, due 2016 through 2037(a) 1,540 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, 6.85%, due June 15, 2037 100 100 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(a) 786 1,636 Hiland Partners Holdings LLC, senior notes, 5.50% and 7.25%, due 2020 and 2022 974 974 EPC Building, LLC, promissory note, 3.967%, due 2016 through 2035 440 443 Trust I preferred securities, 4.75%, due March 31, 2028 221 221 KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock 100 100 Other miscellaneous debt 299 300 Total debt – KMI and Subsidiaries 41,895 41,553 Less: Current portion of debt(a)(d) 1,702 821 Total long-term debt – KMI and Subsidiaries(e) $ 40,193 $ 40,732 _______ (a) On January 26, 2016, we entered into a $1.0 billion three -year unsecured term loan facility with a variable interest rate, which is determined in the same manner as interest on our revolving credit facility borrowings. In January 2016, we repaid $850 million of maturing 5.70% senior notes, and in February 2016, we repaid $250 million of maturing 8.00% senior notes primarily using proceeds from the three-year term loan. (b) Amount includes senior notes that are denominated in Euros and have been converted and are respectively reported above at the March 31, 2016 exchange rate of 1.1380 U.S. dollars per Euro and the December 31, 2015 exchange rate of 1.0862 U.S. dollars per Euro. For the three months ended March 31, 2016 , our debt increased by $65 million as a result of the change in the exchange rate of U.S. dollars per Euro. At the time of issuance, we entered into cross-currency swap agreements associated with these senior notes, effectively converting these Euro-denominated senior notes to U.S. dollars (see Note 5 “Risk Management— Foreign Currency Risk Management ”). (c) As of March 31, 2016 , the weighted average interest rate on our credit facility borrowings, including commercial paper borrowings, was 1.86% . (d) Amounts include outstanding credit facility borrowings, commercial paper borrowings and other debt maturing within 12 months (see “—Current Portion of Debt” below). (e) Excludes our “Debt fair value adjustments” which, as of March 31, 2016 and December 31, 2015 , increased our combined debt balances by $1,912 million and $1,674 million , respectively. In addition to all unamortized debt discount/premium amounts, debt issuance costs and purchase accounting on our debt balances, our debt fair value adjustments also include amounts associated with the offsetting entry for hedged debt and 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, 2016 : Issuances $1.0 billion unsecured term loan facility due 2019 Repayments $850 million 5.70% notes due 2016 $500 million 3.50% notes due 2016 $250 million 8.00% notes due 2016 $67 million 8.25% notes due 2016 |
Schedule of Short-term Debt [Table Text Block] | In addition to outstanding credit facility borrowings, commercial paper borrowings, and other debt maturing within 12 months, our current portion of debt includes the current portion of the following significant series of long-term notes: 2016 $600 million 6.00% notes due February 2017 2015 $500 million 3.50% notes due March 2016 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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, 2016 2015 Per common share cash dividend declared for the period $ 0.125 $ 0.48 Per common share cash dividend paid in the period $ 0.125 $ 0.45 |
Risk Management (Tables)
Risk Management (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments | As of March 31, 2016 , we had 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 (21.4 ) MMBbl Crude oil basis (5.6 ) MMBbl Natural gas fixed price (41.0 ) Bcf Natural gas basis (31.5 ) Bcf Derivatives not designated as hedging contracts Crude oil fixed price (0.4 ) MMBbl Crude oil basis (1.0 ) MMBbl Natural gas fixed price (13.0 ) Bcf Natural gas basis (1.8 ) Bcf NGL and other fixed price (2.5 ) 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, Location Fair value Fair value Derivatives designated as hedging contracts Natural gas and crude derivative contracts Fair value of derivative contracts/(Other current liabilities) $ 287 $ 359 $ (8 ) $ (13 ) Deferred charges and other assets/(Other long-term liabilities and deferred credits) 226 244 (2 ) — Subtotal 513 603 (10 ) (13 ) Interest rate swap agreements Fair value of derivative contracts/(Other current liabilities) 126 111 — — Deferred charges and other assets/(Other long-term liabilities and deferred credits) 529 273 — (9 ) Subtotal 655 384 — (9 ) Cross-currency swap agreements Fair value of derivative contracts/(Other current liabilities) — — (29 ) (6 ) Deferred charges and other assets/(Other long-term liabilities and deferred credits) 56 — — (46 ) Subtotal 56 — (29 ) (52 ) Total 1,224 987 (39 ) (74 ) Derivatives not designated as hedging contracts Natural gas, crude, NGL and other derivative contracts Fair value of derivative contracts/(Other current liabilities) 27 35 (4 ) (1 ) Subtotal 27 35 (4 ) (1 ) Interest rate swap agreements Fair value of derivative contracts/(Other current liabilities) 11 1 — (11 ) Deferred charges and other assets/(Other long-term liabilities and deferred credits) 27 — — (5 ) Subtotal 38 1 — (16 ) Power derivative contracts Fair value of derivative contracts/(Other current liabilities) 3 1 (6 ) (17 ) Subtotal 3 1 (6 ) (17 ) Total 68 37 (10 ) (34 ) Total derivatives $ 1,292 $ 1,024 $ (49 ) $ (108 ) |
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 Gain/(loss) recognized in income on derivatives and related hedged item Three Months Ended March 31, 2016 2015 Interest rate swap agreements Interest, net $ 280 $ 145 Hedged fixed rate debt Interest, net $ (284 ) $ (139 ) Derivatives in cash flow hedging relationships Gain/(loss) recognized in OCI on derivative (effective portion)(a) Location Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) Location Gain/(loss) recognized in income 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, 2016 2015 2016 2015 2016 2015 Energy commodity derivative contracts $ 27 $ 35 Revenues—Natural gas sales $ 21 $ 24 Revenues—Natural gas sales $ — $ — Revenues—Product sales and other 57 64 Revenues—Product sales and other 1 7 Costs of sales (10 ) (5 ) Costs of sales — — Interest rate swap agreements(c) (4 ) (3 ) Interest, net (1 ) (1 ) Interest, net — — Cross-currency swap 50 (34 ) Other, net 41 (10 ) Other, net — — Total $ 73 $ (2 ) Total $ 108 $ 72 Total $ 1 $ 7 _________ (a) We expect to reclassify an approximate $132 million gain associated with cash flow hedge price risk management activities included in our accumulated other comprehensive loss balances as of March 31, 2016 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). (c) Amounts represent our share of an equity investee’s accumulated other comprehensive income (loss). Derivatives not designated as accounting hedges Location Gain/(loss) recognized in income on derivatives Three Months Ended March 31, 2016 2015 Energy commodity derivative contracts Revenues—Natural gas sales $ 6 $ 4 Revenues—Product sales and other (2 ) 45 Costs of sales (5 ) (3 ) Interest rate swap agreements Interest, net 53 — Total(a) $ 52 $ 46 _______ (a) The three months ended March 31, 2016 and 2015 include an approximate gain of $19 million and loss of $5 million , respectively, associated with natural gas, crude and NGL derivative contract settlements. |
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 gains/(losses) on cash flow hedge derivatives Foreign currency translation adjustments Pension and other postretirement liability adjustments Total accumulated other comprehensive loss Balance as of December 31, 2015 $ 219 $ (322 ) $ (358 ) $ (461 ) Other comprehensive gain before reclassifications 73 78 4 155 (Gains) losses reclassified from accumulated other comprehensive income (loss) (108 ) — — (108 ) Net current-period other comprehensive gain (35 ) 78 4 47 Balance as of March 31, 2016 $ 184 $ (244 ) $ (354 ) $ (414 ) Net unrealized gains/(losses) on cash flow hedge derivatives Foreign currency translation adjustments Pension and other postretirement liability adjustments Total accumulated other comprehensive loss Balance as of December 31, 2014 $ 327 $ (108 ) $ (236 ) $ (17 ) Other comprehensive loss before reclassifications (2 ) (108 ) 6 (104 ) (Gains) losses reclassified from accumulated other comprehensive income (loss) (72 ) — — (72 ) Net current-period other comprehensive loss (74 ) (108 ) 6 (176 ) Balance as of March 31, 2015 $ 253 $ (216 ) $ (230 ) $ (193 ) |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 fair value measurements by level Net amount Level 1 Level 2 Level 3 Gross amount Contracts available for netting Cash collateral held(b) As of March 31, 2016 Energy commodity derivative contracts(a) $ 20 $ 520 $ 3 $ 543 $ (12 ) $ (8 ) $ 523 Interest rate swap agreements $ — $ 693 $ — $ 693 $ — $ — $ 693 Cross-currency swap agreements $ — $ 56 $ — $ 56 $ (29 ) $ — $ 27 As of December 31, 2015 Energy commodity derivative contracts(a) $ 48 $ 589 $ 2 $ 639 $ (12 ) $ (37 ) $ 590 Interest rate swap agreements $ — $ 385 $ — $ 385 $ (8 ) $ — $ 377 Cross-currency swap agreements $ — $ — $ — $ — $ — $ — $ — Balance sheet liability fair value measurements by level Net amount Level 1 Level 2 Level 3 Gross amount Contracts available for netting Collateral posted(c) As of March 31, 2016 Energy commodity derivative contracts(a) $ (2 ) $ (13 ) $ (5 ) $ (20 ) $ 12 $ 1 $ (7 ) Interest rate swap agreements $ — $ — $ — $ — $ — $ — $ — Cross-currency swap agreements $ — $ (29 ) $ — $ (29 ) $ 29 $ — $ — As of December 31, 2015 Energy commodity derivative contracts(a) $ (4 ) $ (10 ) $ (17 ) $ (31 ) $ 12 $ — $ (19 ) Interest rate swap agreements $ — $ (25 ) $ — $ (25 ) $ 8 $ — $ (17 ) Cross-currency swap agreements $ — $ (52 ) $ — $ (52 ) $ — $ — $ (52 ) _______ (a) Level 1 consists primarily of New York Mercantile Exchange natural gas futures. Level 2 consists primarily of OTC West Texas Intermediate 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, 2016 2015 Derivatives-net asset (liability) Beginning of Period $ (15 ) $ (61 ) Total gains or (losses) included in earnings (6 ) — Settlements 19 12 End of Period $ (2 ) $ (49 ) 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 $ 1 |
Schedule of Debt [Table Text Block] | The estimated fair value of our outstanding debt balances is disclosed below (in millions): March 31, 2016 December 31, 2015 Carrying value Estimated fair value Carrying value Estimated fair value Total debt $ 43,807 $ 40,861 $ 43,227 $ 37,481 We used Level 2 input values to measure the estimated fair value of our outstanding debt balances as of both March 31, 2016 and December 31, 2015 . |
Reportable Segments (Tables)
Reportable Segments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Financial information by segment follows (in millions): Three Months Ended March 31, 2016 2015 Revenues Natural Gas Pipelines Revenues from external customers $ 1,970 $ 2,177 Intersegment revenues 1 3 CO 2 302 446 Terminals 465 457 Products Pipelines Revenues from external customers 391 444 Intersegment revenues 5 — Kinder Morgan Canada 59 60 Other — 4 Total segment revenues 3,193 3,591 Other revenues 8 9 Less: Total intersegment revenues (6 ) (3 ) Total consolidated revenues $ 3,195 $ 3,597 Three Months Ended March 31, 2016 2015 Segment EBDA(a) Natural Gas Pipelines $ 992 $ 1,015 CO 2 186 336 Terminals 253 270 Products Pipelines 179 246 Kinder Morgan Canada 40 41 Other (8 ) (6 ) Total segment EBDA 1,642 1,902 Total segment DD&A (551 ) (538 ) Total segment amortization of excess cost of equity investments (14 ) (12 ) Other revenues 8 9 General and administrative expense (190 ) (216 ) Interest expense, net of unallocable interest income (442 ) (514 ) Unallocable income tax expense (139 ) (212 ) Total consolidated net income $ 314 $ 419 March 31, December 31, Assets Natural Gas Pipelines $ 53,456 $ 53,704 CO 2 4,548 4,706 Terminals 9,467 9,083 Products Pipelines 8,512 8,464 Kinder Morgan Canada 1,542 1,434 Other 344 418 Total segment assets 77,869 77,809 Corporate assets(b) 6,337 6,276 Assets held for sale 23 19 Total consolidated assets $ 84,229 $ 84,104 _______ (a) We evaluate performance based on each segment’s EBDA. 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 and disposals of long-lived assets, net 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, deferred tax assets, 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. |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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, 2016 2015 Income tax expense $ 154 $ 224 Effective tax rate 32.9 % 34.8 % |
Guarantee of Securities of Su29
Guarantee of Securities of Subsidiaries (Tables) | 3 Months Ended | |
Mar. 31, 2016 | 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, 2016 (In Millions) (Unaudited) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Total Revenues $ 9 $ — $ — $ 2,825 $ 370 $ (9 ) $ 3,195 Operating Costs, Expenses and Other Costs of sales — — — 652 76 3 731 Depreciation, depletion and amortization 5 — — 456 90 — 551 Other operating expenses 19 2 — 813 275 (12 ) 1,097 Total Operating Costs, Expenses and Other 24 2 — 1,921 441 (9 ) 2,379 Operating (loss) income (15 ) (2 ) — 904 (71 ) — 816 Other Income (Expense) Earnings from consolidated subsidiaries 658 597 7 13 14 (1,289 ) — Earnings from equity investments — — — 94 — — 94 Interest, net (170 ) 63 (12 ) (309 ) (13 ) — (441 ) Amortization of excess cost of equity investments and other, net — — — (5 ) 4 — (1 ) Income (Loss) Before Income Taxes 473 658 (5 ) 697 (66 ) (1,289 ) 468 Income Tax (Expense) Benefit (158 ) (2 ) — 6 — — (154 ) Net Income (Loss) 315 656 (5 ) 703 (66 ) (1,289 ) 314 Net Loss Attributable to Noncontrolling Interests — — — — — 1 1 Net Income (Loss) Attributable to Controlling Interests 315 656 (5 ) 703 (66 ) (1,288 ) 315 Preferred Stock Dividends (39 ) — — — — — (39 ) Net Income (Loss) Available to Common Stockholders $ 276 $ 656 $ (5 ) $ 703 $ (66 ) $ (1,288 ) $ 276 Net Income (loss) $ 315 $ 656 $ (5 ) $ 703 $ (66 ) $ (1,289 ) $ 314 Total other comprehensive income (loss) 47 52 — (6 ) 124 (170 ) 47 Comprehensive income (loss) 362 708 (5 ) 697 58 (1,459 ) 361 Comprehensive loss attributable to noncontrolling interests — — — — — 1 1 Comprehensive income (loss) attributable to controlling interests $ 362 $ 708 $ (5 ) $ 697 $ 58 $ (1,458 ) $ 362 | |
Condensed Balance Sheet [Table Text Block] | Condensed Consolidating Balance Sheets as of March 31, 2016 (In Millions) (Unaudited) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI ASSETS Cash and cash equivalents $ 10 $ — $ — $ 13 $ 165 $ (13 ) $ 175 Other current assets - affiliates 4,744 2,207 115 10,520 830 (18,416 ) — All other current assets 121 120 — 1,854 214 (3 ) 2,306 Property, plant and equipment, net 262 — — 32,206 8,574 — 41,042 Investments 16 2 — 5,898 119 — 6,035 Investments in subsidiaries 25,726 26,754 2,348 4,653 3,994 (63,475 ) — Goodwill 15,089 22 287 5,220 3,183 — 23,801 Notes receivable from affiliates 1,090 21,754 — 1,249 305 (24,398 ) — Deferred income taxes 7,312 — — — — (2,209 ) 5,103 Other non-current assets 389 470 1 4,791 116 — 5,767 Total assets $ 54,759 $ 51,329 $ 2,751 $ 66,404 $ 17,500 $ (108,514 ) $ 84,229 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Current portion of debt $ 948 $ 600 $ — $ 32 $ 122 $ — $ 1,702 Other current liabilities - affiliates 1,237 10,851 31 5,475 822 (18,416 ) — All other current liabilities 355 225 13 1,625 492 (16 ) 2,694 Long-term debt 15,011 19,607 376 6,431 680 — 42,105 Notes payable to affiliates 1,373 448 753 20,417 1,407 (24,398 ) — Deferred income taxes — — 2 613 1,594 (2,209 ) — All other long-term liabilities and deferred credits 655 184 — 865 478 — 2,182 Total liabilities 19,579 31,915 1,175 35,458 5,595 (45,039 ) 48,683 Stockholders’ equity Total KMI equity 35,180 19,414 1,576 30,946 11,905 (63,841 ) 35,180 Noncontrolling interests — — — — — 366 366 Total stockholders’ Equity 35,180 19,414 1,576 30,946 11,905 (63,475 ) 35,546 Total Liabilities and Stockholders’ Equity $ 54,759 $ 51,329 $ 2,751 $ 66,404 $ 17,500 $ (108,514 ) $ 84,229 | Condensed Consolidating Balance Sheets as of March 31, 2016 (In Millions) (Unaudited) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI ASSETS Cash and cash equivalents $ 10 $ — $ — $ 13 $ 165 $ (13 ) $ 175 Other current assets - affiliates 4,744 2,207 115 10,520 830 (18,416 ) — All other current assets 121 120 — 1,854 214 (3 ) 2,306 Property, plant and equipment, net 262 — — 32,206 8,574 — 41,042 Investments 16 2 — 5,898 119 — 6,035 Investments in subsidiaries 25,726 26,754 2,348 4,653 3,994 (63,475 ) — Goodwill 15,089 22 287 5,220 3,183 — 23,801 Notes receivable from affiliates 1,090 21,754 — 1,249 305 (24,398 ) — Deferred income taxes 7,312 — — — — (2,209 ) 5,103 Other non-current assets 389 470 1 4,791 116 — 5,767 Total assets $ 54,759 $ 51,329 $ 2,751 $ 66,404 $ 17,500 $ (108,514 ) $ 84,229 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Current portion of debt $ 948 $ 600 $ — $ 32 $ 122 $ — $ 1,702 Other current liabilities - affiliates 1,237 10,851 31 5,475 822 (18,416 ) — All other current liabilities 355 225 13 1,625 492 (16 ) 2,694 Long-term debt 15,011 19,607 376 6,431 680 — 42,105 Notes payable to affiliates 1,373 448 753 20,417 1,407 (24,398 ) — Deferred income taxes — — 2 613 1,594 (2,209 ) — All other long-term liabilities and deferred credits 655 184 — 865 478 — 2,182 Total liabilities 19,579 31,915 1,175 35,458 5,595 (45,039 ) 48,683 Stockholders’ equity Total KMI equity 35,180 19,414 1,576 30,946 11,905 (63,841 ) 35,180 Noncontrolling interests — — — — — 366 366 Total stockholders’ Equity 35,180 19,414 1,576 30,946 11,905 (63,475 ) 35,546 Total Liabilities and Stockholders’ Equity $ 54,759 $ 51,329 $ 2,751 $ 66,404 $ 17,500 $ (108,514 ) $ 84,229 Condensed Consolidating Balance Sheets as of December 31, 2015 (In Millions) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI ASSETS Cash and cash equivalents $ 123 $ — $ — $ 12 $ 142 $ (48 ) $ 229 Other current assets - affiliates 2,233 1,600 — 9,451 695 (13,979 ) — All other current assets 126 119 — 2,163 195 (8 ) 2,595 Property, plant and equipment, net 252 — — 32,195 8,100 — 40,547 Investments 16 2 — 5,906 116 — 6,040 Investments in subsidiaries 27,401 28,038 2,341 4,361 3,320 (65,461 ) — Goodwill 15,089 22 287 5,221 3,171 — 23,790 Notes receivable from affiliates 850 21,319 — 2,070 380 (24,619 ) — Deferred income taxes 7,501 — — — — (2,178 ) 5,323 Other non-current assets 215 307 1 4,943 114 — 5,580 Total assets $ 53,806 $ 51,407 $ 2,629 $ 66,322 $ 16,233 $ (106,293 ) $ 84,104 LIABILITIES AND STOCKHOLDERS’ EQUITY Liabilities Current portion of debt $ 67 $ 500 $ — $ 132 $ 122 $ — $ 821 Other current liabilities - affiliates 1,328 8,682 39 3,216 714 (13,979 ) — All other current liabilities 321 458 7 1,987 527 (56 ) 3,244 Long-term debt 13,845 20,053 378 7,447 683 — 42,406 Notes payable to affiliates 2,404 448 622 19,840 1,305 (24,619 ) — Deferred income taxes — — 2 594 1,582 (2,178 ) — Other long-term liabilities and deferred credits 722 193 — 907 408 — 2,230 Total liabilities 18,687 30,334 1,048 34,123 5,341 (40,832 ) 48,701 Stockholders’ equity Total KMI equity 35,119 21,073 1,581 32,199 10,892 (65,745 ) 35,119 Noncontrolling interests — — — — — 284 284 Total stockholders’ Equity 35,119 21,073 1,581 32,199 10,892 (65,461 ) 35,403 Total Liabilities and Stockholders’ Equity $ 53,806 $ 51,407 $ 2,629 $ 66,322 $ 16,233 $ (106,293 ) $ 84,104 |
Condensed Cash Flow Statement [Table Text Block] | Condensed Consolidating Statements of Cash Flows for the Three Months Ended March 31, 2016 (In Millions) (Unaudited) Parent Subsidiary Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Net cash (used in) provided by operating activities $ (733 ) $ 1,830 $ (131 ) $ 2,377 $ 15 $ (2,308 ) $ 1,050 Cash flows from investing activities Funding to affiliates (1,360 ) (759 ) — (869 ) (109 ) 3,097 — Capital expenditures (24 ) — — (340 ) (447 ) — (811 ) Contributions to investments (31 ) — — (10 ) (3 ) — (44 ) Acquisitions of assets and investments, net of cash acquired — — — (330 ) — — (330 ) Distributions from equity investments in excess of cumulative earnings 790 — — 29 — (776 ) 43 Other, net — (30 ) — 30 (2 ) — (2 ) Net cash used in investing activities (625 ) (789 ) — (1,490 ) (561 ) 2,321 (1,144 ) Cash flows from financing activities Issuances of debt 4,610 — — — — — 4,610 Payments of debt (2,729 ) (500 ) — (1,104 ) (3 ) — (4,336 ) Funding (to) from affiliates (314 ) 881 131 1,878 521 (3,097 ) — Debt issue costs (6 ) — — — — — (6 ) Cash dividends - common shares (279 ) — — — — — (279 ) Cash dividends - preferred shares (37 ) — — — — — (37 ) Contributions from parents — — — — 87 (87 ) — Contributions from noncontrolling interests — — — — — 87 87 Distributions to parents — (1,422 ) — (1,660 ) (41 ) 3,123 — Distributions to noncontrolling interests — — — — — (4 ) (4 ) Net cash provided by (used in) financing activities 1,245 (1,041 ) 131 (886 ) 564 22 35 Effect of exchange rate changes on cash and cash equivalents — — — — 5 — 5 Net (decrease) increase in cash and cash equivalents (113 ) — — 1 23 35 (54 ) Cash and cash equivalents, beginning of period 123 — — 12 142 (48 ) 229 Cash and cash equivalents, end of period $ 10 $ — $ — $ 13 $ 165 $ (13 ) $ 175 | 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 Net cash (used in) provided by operating activities $ (300 ) $ 3,675 $ 139 $ 500 $ (167 ) $ (2,591 ) $ 1,256 Cash flows from investing activities Funding to affiliates (691 ) (4,664 ) — (1,364 ) (96 ) 6,815 — Capital expenditures (18 ) — (2 ) (786 ) (95 ) 4 (897 ) Contributions to investments — — — (30 ) — — (30 ) Investment in KMP (159 ) — — — — 159 — Acquisitions of assets and investments, net of cash acquired (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 (2,563 ) (4,695 ) 2 (2,295 ) (198 ) 6,974 (2,775 ) Cash flows from financing activities Issuances of debt 7,136 — — — — — 7,136 Payments of debt (5,967 ) (300 ) — (36 ) (2 ) — (6,305 ) Funding from (to) affiliates 1,055 2,311 (141 ) 3,256 334 (6,815 ) — Debt issue costs (16 ) — — — — — (16 ) Issuances of common 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 2,872 1,020 (141 ) 1,818 282 (4,383 ) 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 |
General Organization (Details)
General Organization (Details) | Mar. 31, 2016 |
General [Line Items] | |
Miles Of Pipeline | 84,000 |
Number Of Pipeline Terminals Owned Interest In And Or Operated | 180 |
General Basis of Presentation (
General Basis of Presentation (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | ||
Loss on impairments and disposals of long-lived assets and equity investments, net | $ 254 | $ 80 |
Natural Gas Pipelines | ||
Segment Reporting Information [Line Items] | ||
Loss on impairments and disposals of long-lived assets and equity investments, net | 106 | 51 |
Natural Gas Pipelines | Fort Union Gas Gathering L.L.C. and Bighorn Gas Gathering L.L.C. [Member] | ||
Segment Reporting Information [Line Items] | ||
Equity Method Investment, Other than Temporary Impairment | 13 | 26 |
CO2 [Member] | ||
Segment Reporting Information [Line Items] | ||
Loss on impairments and disposals of long-lived assets and equity investments, net | 27 | |
Terminals | ||
Segment Reporting Information [Line Items] | ||
Loss on impairments and disposals of long-lived assets and equity investments, net | 20 | |
Products Pipelines | ||
Segment Reporting Information [Line Items] | ||
Loss on impairments and disposals of long-lived assets and equity investments, net | 64 | |
Products Pipelines | Discontinued Operations, Held-for-sale [Member] | ||
Segment Reporting Information [Line Items] | ||
Loss on impairments and disposals of long-lived assets and equity investments, net | 13 | |
Other Assets [Member] | ||
Segment Reporting Information [Line Items] | ||
Loss on impairments and disposals of long-lived assets and equity investments, net | $ 11 | $ 3 |
General Earnings Per Share (Det
General Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Net Income Available to Common Stockholders | $ 276 | $ 429 |
Warrants(b) | 0 | 10 |
Diluted Weighted Average Common Shares Outstanding | 2,229 | 2,151 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 40 | |
Unvested restricted stock awards | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 8 | 7 |
Warrants to purchase our Class P shares | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 293 | 289 |
Convertible trust preferred securities | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 8 | 9 |
9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 58 | |
Class P | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Net Income Available to Common Stockholders | $ 275 | $ 426 |
Basic Weighted Average Common Shares Outstanding | 2,229 | 2,141 |
Restricted stock awards(a) | ||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||
Net Income Available to Common Stockholders | $ 1 | $ 3 |
Unvested Restricted Stock Awards, Issued and Non Issued | 8 |
Acquisitions Acquisition of Ter
Acquisitions Acquisition of Terminal Assets from and Joint Venture With BP (Details) $ in Millions | Feb. 02, 2016USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Jan. 31, 2016 |
Business Acquisition [Line Items] | ||||
Contributions from noncontrolling interests | $ 87 | $ 0 | ||
BP Terminal Assets | ||||
Business Acquisition [Line Items] | ||||
Number of terminals | 15 | |||
Payments to Acquire Businesses, Gross | $ 348 | 348 | ||
New Joint Venture with BP [Member] | BP Terminal Assets | ||||
Business Acquisition [Line Items] | ||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 75.00% | |||
Number of terminals contributed to equity investment | 14 | |||
BP [Member] | New Joint Venture with BP [Member] | BP Terminal Assets | ||||
Business Acquisition [Line Items] | ||||
Jointly Owned Utility Plant, Proportionate Ownership Share | 25.00% | |||
Contributions from noncontrolling interests | $ 84 | |||
Terminals | New Joint Venture with BP [Member] | BP Terminal Assets | ||||
Business Acquisition [Line Items] | ||||
Number of terminals contributed to equity investment | 10 | |||
Products Pipelines | New Joint Venture with BP [Member] | BP Terminal Assets | ||||
Business Acquisition [Line Items] | ||||
Number of terminals contributed to equity investment | 5 |
Acquisitions Purchase Price All
Acquisitions Purchase Price Allocation (Details) - USD ($) $ in Millions | Feb. 02, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | |||
Goodwill | $ 23,801 | $ 23,790 | |
BP Terminal Assets | |||
Business Acquisition [Line Items] | |||
Current assets | 2 | ||
Property, plant and equipment | 395 | ||
Goodwill | 0 | ||
Deferred charges and other assets(a) | 0 | ||
Total assets acquired | 397 | ||
Current liabilities | 0 | ||
Debt | 0 | ||
Other liabilities | (49) | ||
Cash consideration | $ 348 | 348 | |
Hiland | |||
Business Acquisition [Line Items] | |||
Current assets | 79 | ||
Property, plant and equipment | 1,492 | ||
Goodwill | 310 | ||
Deferred charges and other assets(a) | 1,498 | ||
Total assets acquired | 3,379 | ||
Current liabilities | (253) | ||
Debt | (1,413) | ||
Other liabilities | (4) | ||
Cash consideration | $ 1,709 | ||
Finite-Lived Intangible Asset, Useful Life | 16 years 5 months | ||
Royal Vopak Terminal Assets | |||
Business Acquisition [Line Items] | |||
Current assets | $ 2 | ||
Property, plant and equipment | 155 | ||
Goodwill | 6 | ||
Deferred charges and other assets(a) | 0 | ||
Total assets acquired | 163 | ||
Current liabilities | (1) | ||
Debt | 0 | ||
Other liabilities | (4) | ||
Cash consideration | $ 158 |
Acquisitions Phantom (Details)
Acquisitions Phantom (Details) | Feb. 01, 2016 |
BP Terminal Assets | |
Business Acquisition [Line Items] | |
Number of terminals wholly owned | 1 |
Debt (Details)
Debt (Details) $ in Millions | Jan. 26, 2016USD ($) | Feb. 29, 2016USD ($) | Jan. 31, 2016USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($) |
Debt Instrument [Line Items] | ||||||
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | $ 100 | $ 100 | ||||
Less: Current portion of debt(a)(d) | 1,702 | 821 | ||||
Long-term debt | 42,105 | 42,406 | ||||
Debt Instrument, Fair Value Disclosure | 1,912 | 1,674 | ||||
Repayments of Debt | 4,336 | $ 6,305 | ||||
Kinder Morgan, Inc. [Member] | Senior unsecured term loan facility, variable, due 2019 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 1,000 | 1,000 | 0 | |||
Debt Instrument, Term | 3 years | |||||
Kinder Morgan, Inc. [Member] | Senior notes, 1.50% through 8.25%, due 2016 through 2098(b) | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 13,344 | 13,346 | ||||
Kinder Morgan, Inc. [Member] | Senior unsecured revolving credit facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Credit facility due November 26, 2019(c) | 900 | 0 | ||||
Kinder Morgan, Inc. [Member] | Commercial Paper [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Commercial paper borrowings(c) | $ 48 | 0 | ||||
Kinder Morgan, Inc. [Member] | Revolving Credit Facility [Member] | KMI Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt, Weighted Average Interest Rate | 1.86% | |||||
Kinder Morgan Energy Partners, L.P. [Member] | KMP Senior notes, 2.65% through 9.00%, due 2016 through 2044 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 19,485 | 19,985 | ||||
TGP [Member] | TGP senior notes, 7.00% through 8.375%, due 2016 through 2037 | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 1,540 | 1,790 | ||||
TGP [Member] | TGP 8.00% Senior Notes due February 1, 2016 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Repayments of Debt | $ 250 | $ 0 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||
EPNG [Member] | EPNG senior notes, 5.95% through 8.625%, due 2017 through 2032 | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 1,115 | 1,115 | ||||
Copano Energy, L.L.C. [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Total debt – KMI and Subsidiaries | 332 | |||||
Long-term debt | 376 | 378 | ||||
Repayments of Debt | 0 | $ 0 | ||||
Copano Energy, L.L.C. [Member] | Copano senior notes, 7.125%, due April 1, 2021 | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 332 | 332 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | |||||
Colorado Interstate Gas Company, L.L.C. [Member] | KMP Senior Note 6.85%, due June 15, 2037 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 100 | 100 | ||||
SNG [Member] | SNG notes, 4.40% through 8.00%, due 2017 through 2032 | ||||||
Debt Instrument [Line Items] | ||||||
Notes Payable | 1,211 | 1,211 | ||||
Kinder Morgan Finance Company, LLC [Member] | Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036 | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | 786 | 1,636 | ||||
Kinder Morgan Finance Company, LLC [Member] | 5.70% Senior Notes due January 5, 2016 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Repayments of Debt | $ 850 | $ 850 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | |||||
Hiland Partners Holdings LLC [Member] | Hiland Partners Holdings LLC, senior notes, 5.50% and 7.25%, due 2020 and 2022 | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 974 | 974 | ||||
EPC Building LLC [Member] | EPC Building, LLC, promissory note, 3.967%, due 2016 through 2035 | ||||||
Debt Instrument [Line Items] | ||||||
Notes Payable | $ 440 | 443 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.967% | |||||
Capital Trust I [Member] | Preferred securities, 4.75%, due March 31, 2028 | ||||||
Debt Instrument [Line Items] | ||||||
Senior Notes | $ 221 | 221 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | |||||
Kinder Morgan G.P., Inc. [Member] | KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | ||||||
Debt Instrument [Line Items] | ||||||
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | $ 100 | 100 | ||||
KMI AND KMP [Member] | Other miscellaneous debt | ||||||
Debt Instrument [Line Items] | ||||||
Notes Payable | 299 | 300 | ||||
Kinder Morgan, Inc and Subsidiaries [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Total debt – KMI and Subsidiaries | 41,895 | 41,553 | ||||
Long-term debt | $ 40,193 | $ 40,732 | ||||
Euro Member Countries, Euro | Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Foreign Currency Exchange Rate, Translation | 1.138 | 1.0862 | ||||
Translation Adjustment Functional to Reporting Currency, Increase (Decrease), Gross of Tax | $ 65 |
Debt Credit Facilities (Details
Debt Credit Facilities (Details) - Kinder Morgan, Inc. [Member] - USD ($) $ in Millions | Mar. 31, 2016 | Jan. 26, 2016 |
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Prior Borrowing Capacity | $ 4,000 | |
Line of Credit Facility, Current Borrowing Capacity | $ 5,000 | |
Letters of Credit Outstanding, Amount | 115 | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 3,937 |
Debt Current Portion of Debt (D
Debt Current Portion of Debt (Details) - Kinder Morgan Energy Partners, L.P. [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
KMP Senior notes, 6.0%, due February 1, 2017 [Member] | |
Short-term Debt [Line Items] | |
Senior Notes | $ 600 |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.00% |
KMP 3.5% Senior Notes due March 1, 2016 [Member] | |
Short-term Debt [Line Items] | |
Senior Notes | $ 500 |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 3.50% |
Long-term Debt Issuances and Re
Long-term Debt Issuances and Repaymenrts (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | ||
Feb. 29, 2016 | Jan. 31, 2016 | Mar. 31, 2016 | Mar. 31, 2015 | |
Debt Instrument [Line Items] | ||||
Repayments of Debt | $ 4,336 | $ 6,305 | ||
Kinder Morgan, Inc. [Member] | Senior unsecured term loan facility, variable, due 2019 [Member] | ||||
Debt Instrument [Line Items] | ||||
Proceeds from Issuance of Long-term Debt | $ 1,000 | |||
Kinder Morgan, Inc. [Member] | KMI 8.25% Senior Notes due February 15, 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | |||
Repayments of Debt | $ 67 | |||
Kinder Morgan Energy Partners, L.P. [Member] | KMP 3.5% Senior Notes due March 1, 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |||
Repayments of Debt | $ 500 | |||
TGP [Member] | TGP 8.00% Senior Notes due February 1, 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||
Repayments of Debt | $ 250 | $ 0 | ||
Kinder Morgan Finance Company, LLC [Member] | 5.70% Senior Notes due January 5, 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | |||
Repayments of Debt | $ 850 | $ 850 |
Debt Phantom (Details)
Debt Phantom (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | |||
Feb. 29, 2016 | Mar. 31, 2016 | Mar. 31, 2015 | Jan. 26, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||||
Repayments of Debt | $ 4,336 | $ 6,305 | |||
Kinder Morgan, Inc. [Member] | Senior unsecured term loan facility, variable, due 2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Proceeds from Issuance of Long-term Debt | 1,000 | ||||
Senior Notes | $ 1,000 | $ 1,000 | $ 0 | ||
Kinder Morgan, Inc. [Member] | Senior notes, 1.50% through 8.25%, due 2016 through 2098(b) | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 1.50% | ||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 8.25% | ||||
Kinder Morgan Energy Partners, L.P. [Member] | KMP Senior notes, 2.65% through 9.00%, due 2016 through 2044 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 2.65% | ||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 9.00% | ||||
Senior Notes | $ 19,485 | 19,985 | |||
Kinder Morgan Energy Partners, L.P. [Member] | KMP Senior notes, 6.0%, due February 1, 2017 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.00% | ||||
Senior Notes | $ 600 | ||||
Kinder Morgan Energy Partners, L.P. [Member] | KMP 3.5% Senior Notes due March 1, 2016 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 3.50% | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | ||||
Repayments of Debt | $ 500 | ||||
Senior Notes | $ 500 | ||||
TGP [Member] | TGP senior notes, 7.00% through 8.375%, due 2016 through 2037 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 7.00% | ||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 8.375% | ||||
Senior Notes | $ 1,540 | 1,790 | |||
TGP [Member] | TGP 8.00% Senior Notes due February 1, 2016 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||
Repayments of Debt | $ 250 | $ 0 | |||
EPNG [Member] | EPNG senior notes, 5.95% through 8.625%, due 2017 through 2032 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.95% | ||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 8.625% | ||||
Senior Notes | $ 1,115 | 1,115 | |||
Copano Energy, L.L.C. [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayments of Debt | $ 0 | $ 0 | |||
Copano Energy, L.L.C. [Member] | Copano senior notes, 7.125%, due April 1, 2021 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | ||||
Senior Notes | $ 332 | 332 | |||
Colorado Interstate Gas Company, L.L.C. [Member] | CIG senior note, 6.85%, due June 15, 2037 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 6.85% | ||||
Senior Notes | $ 100 | 100 | |||
SNG [Member] | SNG notes, 4.40% through 8.00%, due 2017 through 2032 | |||||
Debt Instrument [Line Items] | |||||
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] | Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.70% | ||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.40% | ||||
Senior Notes | $ 786 | 1,636 | |||
Hiland Partners Holding LLC [Member] | Hiland Partners Holdings LLC, senior notes, 5.50% and 7.25%, due 2020 and 2022 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.50% | ||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 7.25% | ||||
Senior Notes | $ 974 | 974 | |||
EPC Building LLC [Member] | EPC Building, LLC, promissory note, 3.967%, due 2016 through 2035 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.967% | ||||
Capital Trust I [Member] | Preferred securities, 4.75%, due March 31, 2028 | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | ||||
Senior Notes | $ 221 | $ 221 | |||
Kinder Morgan G.P., Inc. [Member] | KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock | |||||
Debt Instrument [Line Items] | |||||
Preferred Interest of General Partner, Par or Stated Value Per Share | $ 1,000 |
Stockholders' Equity Common Equ
Stockholders' Equity Common Equity (Details) - $ / shares | Apr. 20, 2016 | Mar. 31, 2016 | Mar. 31, 2015 |
Class P | |||
Class of Stock [Line Items] | |||
Dividends Per Common Share Declared for the Period | $ 0.125 | $ 0.480 | |
Per common share cash dividend paid in the period | $ 0.125 | $ 0.45 | |
Dividend Declared [Member] | |||
Class of Stock [Line Items] | |||
Dividends Per Common Share Declared for the Period | $ 0.125 |
Stockholders' Equity Stockholde
Stockholders' Equity Stockholders' Equity Mandatory Convertible Preferred Stock (Details) - $ / shares | Mar. 30, 2016 | Oct. 30, 2015 | Mar. 31, 2016 | Dec. 31, 2015 |
Class of Stock [Line Items] | ||||
Depositary Share Offering | 32,000,000 | |||
Depositary Shares, Liquidation Preference Per Share | $ 50 | |||
9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference | ||||
Class of Stock [Line Items] | ||||
Issuances of common shares | 1,600,000 | |||
9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference | 9.75% | 9.75% | 9.75% | |
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | $ 1,000 | $ 1,000 | |
Preferred Stock, Dividends Per Share, Declared | $ 24.375 | |||
Depositary Stock, Dividends Per Share, Declared | $ 1.21875 |
Risk Management Energy Commodit
Risk Management Energy Commodity Price Risk Management (Details) - Energy commodity derivative contracts(a) - Forward Contracts [Member] | Mar. 31, 2016BcfMMBbls |
Crude oil fixed price | Derivatives designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | (21.4) |
Crude oil fixed price | Derivatives not designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | (0.4) |
Crude oil basis | Derivatives designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | (5.6) |
Crude oil basis | Derivatives not designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | (1) |
Natural gas fixed price | Derivatives designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | Bcf | (41) |
Natural gas fixed price | Derivatives not designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | Bcf | (13) |
Natural gas basis | Derivatives designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | Bcf | (31.5) |
Natural gas basis | Derivatives not designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | Bcf | (1.8) |
NGL and other fixed price | Derivatives not designated as hedging contracts | |
Derivative [Line Items] | |
Derivative, Net Nonmonetary Notional Amounts | (2.5) |
Risk Management Interest Rate R
Risk Management Interest Rate Risk Management (Details) - Interest rate swap agreements - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 9,775 | $ 11,000 |
Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ 8,475 | $ 0 |
Risk Management Risk Management
Risk Management Risk Management Foreign Currency Risk Management (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Derivative [Line Items] | |
Cross-currency Swap Agreements | $ 1,358 |
KMI 1.50% Senior Notes Due 2022 [Member] | Cross-currency swap agreements | |
Derivative [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 3.79% |
KMI 2.25% Senior Notes Due 2027 [Member] | Cross-currency swap agreements | |
Derivative [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 4.67% |
Kinder Morgan, Inc. [Member] | KMI 1.50% Senior Notes Due 2022 [Member] | |
Derivative [Line Items] | |
Debt Instrument, Term | 7 years |
Kinder Morgan, Inc. [Member] | KMI 2.25% Senior Notes Due 2027 [Member] | |
Derivative [Line Items] | |
Debt Instrument, Term | 12 years |
Risk Management Fair Value of D
Risk Management Fair Value of Derivative Contracts (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Derivatives designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | $ 1,224 | $ 987 |
Derivative Liability, Fair Value, Net | (39) | (74) |
Derivatives not designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 1,292 | 1,024 |
Derivative Liability, Fair Value, Net | (49) | (108) |
Natural gas and crude derivative contracts | Derivatives designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 513 | 603 |
Derivative Liability, Fair Value, Net | (10) | (13) |
Natural gas and crude derivative contracts | Derivatives designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 287 | 359 |
Natural gas and crude derivative contracts | Derivatives designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | (8) | (13) |
Natural gas and crude derivative contracts | Derivatives designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 226 | 244 |
Natural gas and crude derivative contracts | Derivatives designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | (2) | 0 |
Natural gas and crude derivative contracts | Derivatives not designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 27 | 35 |
Derivative Liability, Fair Value, Net | (4) | (1) |
Natural gas and crude derivative contracts | Derivatives not designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 27 | 35 |
Natural gas and crude derivative contracts | Derivatives not designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | (4) | (1) |
Interest rate swap agreements | Derivatives designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 655 | 384 |
Derivative Liability, Fair Value, Net | 0 | (9) |
Interest rate swap agreements | Derivatives not designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 38 | 1 |
Derivative Liability, Fair Value, Net | 0 | (16) |
Interest rate swap agreements | Derivatives not designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 11 | 1 |
Interest rate swap agreements | Derivatives not designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | 0 | (11) |
Interest rate swap agreements | Derivatives not designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 27 | 0 |
Interest rate swap agreements | Derivatives not designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | 0 | (5) |
Cross-currency swap agreements | Derivatives designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 56 | 0 |
Derivative Liability, Fair Value, Net | (29) | (52) |
Power derivative contracts | Derivatives not designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 3 | 1 |
Derivative Liability, Fair Value, Net | (6) | (17) |
Power derivative contracts | Derivatives not designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 3 | 1 |
Power derivative contracts | Derivatives not designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | (6) | (17) |
Commodity Contract [Member] | Derivatives not designated as hedging contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 68 | 37 |
Derivative Liability, Fair Value, Net | (10) | (34) |
Fair Value Hedging [Member] | Interest rate swap agreements | Derivatives designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 126 | 111 |
Fair Value Hedging [Member] | Interest rate swap agreements | Derivatives designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | 0 | 0 |
Fair Value Hedging [Member] | Interest rate swap agreements | Derivatives designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 529 | 273 |
Fair Value Hedging [Member] | Interest rate swap agreements | Derivatives designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | 0 | (9) |
Fair Value Hedging [Member] | Cross-currency swap agreements | Derivatives designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 0 | 0 |
Fair Value Hedging [Member] | Cross-currency swap agreements | Derivatives designated as hedging contracts | Fair value of derivative contracts/(Other current liabilities) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | (29) | (6) |
Fair Value Hedging [Member] | Cross-currency swap agreements | Derivatives designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Asset, Fair Value, Net | 56 | 0 |
Fair Value Hedging [Member] | Cross-currency swap agreements | Derivatives designated as hedging contracts | Deferred charges and other assets/(Other long-term liabilities and deferred credits) | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability, Fair Value, Net | $ 0 | $ (46) |
Risk Management Effect of Deriv
Risk Management Effect of Derivative Contracts on the Income Statement (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest rate swap agreements | Interest, net [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as accounting hedges | $ 53 | $ 0 |
Energy commodity derivative contracts(a) | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as accounting hedges | 52 | 46 |
Derivative, Gain on Derivative | 19 | |
Derivative, Loss on Derivative | 5 | |
Energy commodity derivative contracts(a) | Revenues—Natural gas sales | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as accounting hedges | 6 | 4 |
Energy commodity derivative contracts(a) | Revenues—Product sales and other | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as accounting hedges | (2) | 45 |
Energy commodity derivative contracts(a) | Costs of sales | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivatives not designated as accounting hedges | (5) | (3) |
Derivatives designated as hedging contracts | Total | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) | 108 | 72 |
Gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 1 | 7 |
Derivatives designated as hedging contracts | Gain/(loss) recognized in OCI on derivative (effective portion)(a) | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) recognized in OCI on derivative (effective portion)(a) | 73 | (2) |
Derivatives designated as hedging contracts | Interest rate swap agreements | Interest, net | Fair Value Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) recognized in income on derivatives and related hedged item | 280 | 145 |
Derivatives designated as hedging contracts | Interest rate swap agreements | Interest, net | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) | (1) | (1) |
Gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | 0 |
Derivatives designated as hedging contracts | Interest rate swap agreements | Gain/(loss) recognized in OCI on derivative (effective portion)(a) | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) recognized in OCI on derivative (effective portion)(a) | (4) | (3) |
Derivatives designated as hedging contracts | Hedged fixed rate debt | Interest, net | Fair Value Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) recognized in income on derivatives and related hedged item | (284) | (139) |
Derivatives designated as hedging contracts | Energy commodity derivative contracts(a) | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Loss to be reclassified within twelve months | 132 | |
Derivatives designated as hedging contracts | Energy commodity derivative contracts(a) | Revenues—Natural gas sales | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) | 21 | 24 |
Gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | 0 |
Derivatives designated as hedging contracts | Energy commodity derivative contracts(a) | Revenues—Product sales and other | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) | 57 | 64 |
Gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 1 | 7 |
Derivatives designated as hedging contracts | Energy commodity derivative contracts(a) | Costs of sales | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) | (10) | (5) |
Gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | 0 |
Derivatives designated as hedging contracts | Energy commodity derivative contracts(a) | Gain/(loss) recognized in OCI on derivative (effective portion)(a) | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) recognized in OCI on derivative (effective portion)(a) | 27 | 35 |
Derivatives designated as hedging contracts | Cross-currency swap agreements | Gain/(loss) recognized in OCI on derivative (effective portion)(a) | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) recognized in OCI on derivative (effective portion)(a) | 50 | (34) |
Derivatives designated as hedging contracts | Other Credit Derivatives [Member] | Other, net | Cash Flow Hedging [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain/(loss) reclassified from Accumulated OCI into income (effective portion)(b) | 41 | (10) |
Gain/(loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | $ 0 | $ 0 |
Risk Management Credit Risks (D
Risk Management Credit Risks (Details) - Energy commodity derivative contracts(a) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Credit Derivatives [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 2 | $ 2 |
Cash collateral held(b) | ||
Credit Derivatives [Line Items] | ||
Collateral posted(c) | 1 | 0 |
Derivative, Collateral, Obligation to Return Cash | (8) | $ (37) |
One notch credit downgrade [Member] | ||
Credit Derivatives [Line Items] | ||
Additional Collateral, Aggregate Fair Value | 0 | |
Two notch credit downgrade [Member] | ||
Credit Derivatives [Line Items] | ||
Additional Collateral, Aggregate Fair Value | $ 0 |
Risk Management Risk Manageme49
Risk Management Risk Management Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 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 | $ 184 | $ 253 | $ 219 | $ 327 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Before Reclassifications, Portion Attributable to Parent | 78 | (108) | ||
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | (354) | (230) | (358) | (236) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (414) | (193) | (461) | (17) |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax | 4 | 6 | ||
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax Portion Attributable To Parent | 73 | (2) | ||
Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax Portion Attributable To Parent | (108) | (72) | ||
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | (244) | (216) | $ (322) | $ (108) |
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 Reclassification Adjustment From AOCI Pension And Other Postretiremen tBenefit Plans Net Of Tax Portion Attributable To Parent | 0 | 0 | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent | (35) | (74) | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment and Impact of Merger Transactions, Net of Tax, Portion Attributable to Parent | 78 | (108) | ||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent | 4 | 6 | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Impact of Merger Transactions | 47 | (176) | ||
OCI before Reclassifications [Member] | ||||
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income [Roll Forward] | ||||
OCI, before Reclassifications, Net of Tax, Attributable to Parent | 155 | (104) | ||
Amounts reclassified from AOCI [Member] | ||||
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income [Roll Forward] | ||||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | $ (108) | $ (72) |
Fair Value Fair Value of Deriva
Fair Value Fair Value of Derivative Contracts (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Cross-currency swap agreements | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Net amount | $ 27 | $ 0 | |
Net amount | 0 | (52) | |
Energy commodity derivative contracts(a) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Net amount | 523 | 590 | |
Net amount | (7) | (19) | |
Interest rate swap agreements | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Net amount | 693 | 377 | |
Net amount | 0 | (17) | |
Cross-currency swap agreements | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 56 | 0 | |
Contracts available for netting | 29 | 0 | |
Balance sheet liability fair value measurements by level | (29) | (52) | |
Contracts available for netting | 29 | 0 | |
Cross-currency swap agreements | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 0 | 0 | |
Balance sheet liability fair value measurements by level | 0 | 0 | |
Cross-currency swap agreements | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 56 | 0 | |
Balance sheet liability fair value measurements by level | (29) | (52) | |
Cross-currency swap agreements | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 0 | 0 | |
Balance sheet liability fair value measurements by level | 0 | 0 | |
Cross-currency swap agreements | Cash collateral held(b) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash collateral held(b) | 0 | 0 | |
Collateral posted(c) | 0 | 0 | |
Interest rate swap agreements | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 693 | 385 | |
Contracts available for netting | 0 | 8 | |
Balance sheet liability fair value measurements by level | 0 | (25) | |
Contracts available for netting | 0 | 8 | |
Interest rate swap agreements | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 0 | 0 | |
Balance sheet liability fair value measurements by level | 0 | 0 | |
Interest rate swap agreements | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 693 | 385 | |
Balance sheet liability fair value measurements by level | 0 | (25) | |
Interest rate swap agreements | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 0 | 0 | |
Balance sheet liability fair value measurements by level | 0 | 0 | |
Interest rate swap agreements | Cash collateral held(b) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash collateral held(b) | 0 | 0 | |
Collateral posted(c) | 0 | 0 | |
Energy commodity derivative contracts(a) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 543 | 639 | |
Contracts available for netting | 12 | 12 | |
Balance sheet liability fair value measurements by level | (20) | (31) | |
Contracts available for netting | 12 | 12 | |
Fair Value, Assets Liabilites Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Derivatives-net asset (liability) | (15) | $ (61) | |
Total gains or (losses) included in earnings | (6) | 0 | |
Settlements | 19 | 12 | |
Derivatives-net asset (liability) | (2) | (49) | |
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 | $ 1 | |
Energy commodity derivative contracts(a) | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 20 | 48 | |
Balance sheet liability fair value measurements by level | (2) | (4) | |
Energy commodity derivative contracts(a) | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 520 | 589 | |
Balance sheet liability fair value measurements by level | (13) | (10) | |
Energy commodity derivative contracts(a) | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Balance sheet asset fair value measurements by level | 3 | 2 | |
Balance sheet liability fair value measurements by level | (5) | (17) | |
Energy commodity derivative contracts(a) | Cash collateral held(b) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash collateral held(b) | 8 | 37 | |
Collateral posted(c) | $ 1 | $ 0 |
Fair Value Fair Value of Financ
Fair Value Fair Value of Financial Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Debt Instrument, Fair Value Disclosure | $ 1,912 | $ 1,674 |
Reported Value Measurement [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Fair Value Disclosure | 43,807 | 43,227 |
Estimate of Fair Value Measurement [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Fair Value Disclosure | $ 40,861 | $ 37,481 |
Reportable Segments (Details)
Reportable Segments (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 3,195 | $ 3,597 | |
Segment EBDA(a) | 1,642 | 1,902 | |
Total segment DD&A | (551) | (538) | |
Total segment amortization of excess cost of equity investments | (14) | (12) | |
Other revenues | 538 | 842 | |
General and administrative expense | (190) | (216) | |
Interest expense, net of unallocable interest income | (441) | (512) | |
Income tax expense | (154) | (224) | |
Net income | 314 | 419 | |
Assets | 84,229 | $ 84,104 | |
Assets held for sale | 23 | 19 | |
Natural Gas Pipelines | |||
Segment Reporting Information [Line Items] | |||
Segment EBDA(a) | 992 | 1,015 | |
Assets | 53,456 | 53,704 | |
CO2 | |||
Segment Reporting Information [Line Items] | |||
Revenues | 302 | 446 | |
Segment EBDA(a) | 186 | 336 | |
Assets | 4,548 | 4,706 | |
Terminals | |||
Segment Reporting Information [Line Items] | |||
Segment EBDA(a) | 253 | 270 | |
Assets | 9,467 | 9,083 | |
Products Pipelines | |||
Segment Reporting Information [Line Items] | |||
Segment EBDA(a) | 179 | 246 | |
Assets | 8,512 | 8,464 | |
Kinder Morgan Canada | |||
Segment Reporting Information [Line Items] | |||
Revenues | 59 | 60 | |
Segment EBDA(a) | 40 | 41 | |
Assets | 1,542 | 1,434 | |
Other | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | 4 | |
Segment EBDA(a) | (8) | (6) | |
Assets | 344 | 418 | |
Total segment revenues | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,193 | 3,591 | |
Assets | 77,869 | 77,809 | |
Other revenues | |||
Segment Reporting Information [Line Items] | |||
Other revenues | 8 | 9 | |
Interest expense, net of unallocable interest income | (442) | (514) | |
Income tax expense | (139) | (212) | |
Corporate assets(b) | |||
Segment Reporting Information [Line Items] | |||
Assets | 6,337 | $ 6,276 | |
Revenues from external customers | Natural Gas Pipelines | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1,970 | 2,177 | |
Revenues from external customers | Terminals | |||
Segment Reporting Information [Line Items] | |||
Revenues | 465 | 457 | |
Revenues from external customers | Products Pipelines | |||
Segment Reporting Information [Line Items] | |||
Revenues | 391 | 444 | |
Intersegment revenues | Natural Gas Pipelines | |||
Segment Reporting Information [Line Items] | |||
Revenues | 1 | 3 | |
Intersegment revenues | Products Pipelines | |||
Segment Reporting Information [Line Items] | |||
Revenues | 5 | 0 | |
Less: Total intersegment revenues | |||
Segment Reporting Information [Line Items] | |||
Revenues | $ (6) | $ (3) |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Income tax expense | $ 154 | $ 224 | |
Effective tax rate | 32.90% | 34.80% | |
Federal statutory income tax rate | 35.00% | 35.00% | |
Unrecognized Tax Benefits | $ 142 | $ 173 | |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | $ 31 |
Federal Energy Regulatory Commi
Federal Energy Regulatory Commission Proceedings (Details) - Regulated Operation [Member] - Federal Energy Regulatory Commission [Member] - Various Shippers [Member] - Unfavorable Regulatory Action [Member] $ in Millions | 3 Months Ended |
Mar. 31, 2016USD ($) | |
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 |
Repreations, Refunds, and Rate Reductions [Member] | SFPP [Member] | Pending Litigation [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency Period of Time Litigation Concerns | 2 years |
Annual Rate Reductions [Member] | SFPP [Member] | Pending Litigation [Member] | |
SFPP [Abstract] | |
Loss Contingency, Damages Sought, Value | $ 40 |
Revenue Subject to Refund [Member] | SFPP [Member] | Pending Litigation [Member] | |
SFPP [Abstract] | |
Loss Contingency, Damages Sought, Value | $ 169 |
Other Commercial Matters (Detai
Other Commercial Matters (Details) - USD ($) $ in Millions | Feb. 04, 2016 | Apr. 21, 2015 | Oct. 25, 2013 | Jan. 01, 2004 | Mar. 31, 2016 | Sep. 30, 2013 | Sep. 01, 2011 |
Gulf LNG Holdings Group LLC [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||
Brinckerhoff v. El Paso Pipeline GP Company, LLC., et al. [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Payments to Acquire Businesses, Gross | $ 1,130 | ||||||
Brinckerhoff v. El Paso Pipeline GP Company, LLC., et al. [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss Contingency, Damages Sought, Value | $ 171 | ||||||
Brinckerhoff v. El Paso Pipeline GP Company, LLC., et al. [Member] | Tentative Settlement [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss Contingency, Damages Sought, Value | $ 100.2 | ||||||
Brinckerhoff v. El Paso Pipeline GP Company, LLC., et al. [Member] | Elba Liquefaction & SLNG [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Business Acquisition, Additional Percentage of Interest Acquired | 49.00% | ||||||
Brinckerhoff v. El Paso Pipeline GP Company, LLC., et al. [Member] | SNG [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Business Acquisition, Additional Percentage of Interest Acquired | 15.00% | ||||||
Plains Gas Solutions, LLC v. Tennessee Gas Pipeline Company, L.L.C. et al [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss Contingency, Damages Sought, Value | $ 100 | ||||||
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. [Member] | SFPP L.P. [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Lessee Leasing Arrangements, Operating Leases, Term of Contract | 10 years | 10 years | |||||
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. “D”, 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 | ||||||
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 | ||||||
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 |
Litigation, Environmental and56
Litigation, Environmental and Other Contingencies Litigation General (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Loss Contingencies [Line Items] | ||
Estimated Litigation Liability | $ 481 | $ 463 |
Environmental Matters (Details)
Environmental Matters (Details) $ in Millions | Feb. 02, 2016USD ($) | Nov. 08, 2013 | Aug. 06, 2013Defendants | Jul. 24, 2013 | Aug. 31, 2015USD ($) | Aug. 31, 2007USD ($) | Dec. 31, 2000Terminals | Mar. 31, 2016USD ($)PartiesTerminalsDefendants | Dec. 31, 2010USD ($) | Dec. 31, 1969 | Dec. 31, 2015USD ($) |
Loss Contingencies [Line Items] | |||||||||||
Accrual for environmental loss contingencies | $ 325 | $ 284 | |||||||||
Environmental recoveries receivable | 13 | $ 13 | |||||||||
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 | 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 | $ 365 | $ 170 | $ 365 | ||||||||
United States District Court, Southern District of California, case number 07CV1883WCAB [Member] | Tentative Settlement [Member] | Mission Valley Terminal Facility [Member] | Kinder Morgan Energy Partners, L.P. [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Loss Contingency, Damages Sought, Value | $ 160 | ||||||||||
Lower Passaic River Study Area [Member] | Pending Litigation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Number of Parties at a Joint Defense Group | 70 | ||||||||||
Environmental Remediation Expense | $ 1,700 | ||||||||||
Lower Passaic River Study Area [Member] | Pending Litigation [Member] | Environmental Protection Agency [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Number of Parties at a Joint Defense Group | 80 | ||||||||||
Central Florida Pipeline LLC [Member] | Pending Litigation [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Environmental Remediation Expense | $ 0.9 | ||||||||||
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 | Terminals | 2 | 4 | |||||||||
Number of Parties Involved In Site Cleanup Allocation Negotiations | Parties | 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 |
Guarantee of Securities of Su58
Guarantee of Securities of Subsidiaries (Details) $ in Millions | Mar. 31, 2016USD ($) |
Parent Issuer and Guarantor | |
Carrying value | $ 15,291 |
Subsidiary Issuer and Guarantor - KMP | |
Carrying value | 19,485 |
Subsidiary Issuer and Guarantor - Copano | |
Carrying value | 332 |
Subsidiary Guarantors | |
Carrying value | 5,784 |
Capitalized Lease Debt Not Subject to Cross Guarantee Agreement | $ 174 |
Guarantee of Securities of Su59
Guarantee of Securities of Subsidiaries Condensed Consolidated Statements of Income and Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | $ 3,195 | $ 3,597 |
Costs of sales | 731 | 1,090 |
Depreciation, depletion and amortization | 551 | 538 |
Other operating expenses | (1) | 1 |
Total Operating Costs, Expenses and Other | 2,379 | 2,519 |
Operating Income | 816 | 1,078 |
Earnings from equity investments | 94 | 76 |
Interest, net | (441) | (512) |
Amortization of excess cost of equity investments and other, net | 13 | 13 |
Income Before Income Taxes | 468 | 643 |
Income tax expense | (154) | (224) |
Net Income | 314 | 419 |
Net Loss Attributable to Noncontrolling Interests | 1 | 10 |
Net Income Attributable to Kinder Morgan, Inc. | 315 | 429 |
Preferred Stock Dividends | (39) | 0 |
Net Income (Loss) Available to Common Stockholders | 276 | 429 |
Total other comprehensive loss | 47 | (176) |
Comprehensive income | 361 | 243 |
Comprehensive income attributable to noncontrolling interests | 1 | 10 |
Comprehensive income attributable to KMI | 362 | 253 |
Consolidating Adjustments | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | (9) | (13) |
Costs of sales | 3 | 0 |
Depreciation, depletion and amortization | 0 | 0 |
Other operating expenses | (12) | (13) |
Total Operating Costs, Expenses and Other | (9) | (13) |
Operating Income | 0 | 0 |
Earnings from consolidated subsidiaries | (1,289) | (1,689) |
Earnings from equity investments | 0 | 0 |
Interest, net | 0 | 0 |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income Before Income Taxes | (1,289) | (1,689) |
Income tax expense | 0 | 0 |
Net Income | (1,289) | (1,689) |
Net Loss Attributable to Noncontrolling Interests | 1 | 10 |
Net Income Attributable to Kinder Morgan, Inc. | (1,288) | (1,679) |
Preferred Stock Dividends | 0 | |
Net Income (Loss) Available to Common Stockholders | (1,288) | |
Total other comprehensive loss | (170) | 598 |
Comprehensive income | (1,459) | (1,091) |
Comprehensive income attributable to noncontrolling interests | 1 | 10 |
Comprehensive income attributable to KMI | (1,458) | (1,081) |
Parent Issuer and Guarantor | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 9 | 9 |
Costs of sales | 0 | 0 |
Depreciation, depletion and amortization | 5 | 5 |
Other operating expenses | 19 | 12 |
Total Operating Costs, Expenses and Other | 24 | 17 |
Operating Income | (15) | (8) |
Earnings from consolidated subsidiaries | 658 | 799 |
Earnings from equity investments | 0 | 0 |
Interest, net | (170) | (155) |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income Before Income Taxes | 473 | 636 |
Income tax expense | (158) | (207) |
Net Income | 315 | 429 |
Net Loss Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | 315 | 429 |
Preferred Stock Dividends | 39 | |
Net Income (Loss) Available to Common Stockholders | 276 | |
Total other comprehensive loss | 47 | (176) |
Comprehensive income | 362 | 253 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to KMI | 362 | 253 |
Subsidiary Issuer and Guarantor - KMP | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 0 | 0 |
Costs of sales | 0 | 0 |
Depreciation, depletion and amortization | 0 | 0 |
Other operating expenses | 2 | 38 |
Total Operating Costs, Expenses and Other | 2 | 38 |
Operating Income | (2) | (38) |
Earnings from consolidated subsidiaries | 597 | 883 |
Earnings from equity investments | 0 | 0 |
Interest, net | 63 | (27) |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income Before Income Taxes | 658 | 818 |
Income tax expense | (2) | (2) |
Net Income | 656 | 816 |
Net Loss Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | 656 | 816 |
Preferred Stock Dividends | 0 | |
Net Income (Loss) Available to Common Stockholders | 656 | |
Total other comprehensive loss | 52 | (238) |
Comprehensive income | 708 | 578 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to KMI | 708 | 578 |
Subsidiary Issuer and Guarantor - Copano | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 0 | 0 |
Costs of sales | 0 | 0 |
Depreciation, depletion and amortization | 0 | 0 |
Other operating expenses | 0 | 1 |
Total Operating Costs, Expenses and Other | 0 | 1 |
Operating Income | 0 | (1) |
Earnings from consolidated subsidiaries | 7 | (23) |
Earnings from equity investments | 0 | 0 |
Interest, net | (12) | (12) |
Amortization of excess cost of equity investments and other, net | 0 | 0 |
Income Before Income Taxes | (5) | (36) |
Income tax expense | 0 | 0 |
Net Income | (5) | (36) |
Net Loss Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | (5) | (36) |
Preferred Stock Dividends | 0 | |
Net Income (Loss) Available to Common Stockholders | (5) | |
Total other comprehensive loss | 0 | 0 |
Comprehensive income | (5) | (36) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to KMI | (5) | (36) |
Subsidiary Guarantors | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 2,825 | 3,226 |
Costs of sales | 652 | 1,001 |
Depreciation, depletion and amortization | 456 | 442 |
Other operating expenses | 813 | 685 |
Total Operating Costs, Expenses and Other | 1,921 | 2,128 |
Operating Income | 904 | 1,098 |
Earnings from consolidated subsidiaries | 13 | 14 |
Earnings from equity investments | 94 | 76 |
Interest, net | (309) | (304) |
Amortization of excess cost of equity investments and other, net | (5) | (3) |
Income Before Income Taxes | 697 | 881 |
Income tax expense | 6 | (14) |
Net Income | 703 | 867 |
Net Loss Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | 703 | 867 |
Preferred Stock Dividends | 0 | |
Net Income (Loss) Available to Common Stockholders | 703 | |
Total other comprehensive loss | (6) | (196) |
Comprehensive income | 697 | 671 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to KMI | 697 | 671 |
Subsidiary Non-Guarantors | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 370 | 375 |
Costs of sales | 76 | 89 |
Depreciation, depletion and amortization | 90 | 91 |
Other operating expenses | 275 | 168 |
Total Operating Costs, Expenses and Other | 441 | 348 |
Operating Income | (71) | 27 |
Earnings from consolidated subsidiaries | 14 | 16 |
Earnings from equity investments | 0 | 0 |
Interest, net | (13) | (14) |
Amortization of excess cost of equity investments and other, net | 4 | 4 |
Income Before Income Taxes | (66) | 33 |
Income tax expense | 0 | (1) |
Net Income | (66) | 32 |
Net Loss Attributable to Noncontrolling Interests | 0 | 0 |
Net Income Attributable to Kinder Morgan, Inc. | (66) | 32 |
Preferred Stock Dividends | 0 | |
Net Income (Loss) Available to Common Stockholders | (66) | |
Total other comprehensive loss | 124 | (164) |
Comprehensive income | 58 | (132) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income attributable to KMI | 58 | (132) |
Consolidated KMI | ||
Condensed Income Statements, Captions [Line Items] | ||
Total Revenues | 3,195 | 3,597 |
Costs of sales | 731 | 1,090 |
Depreciation, depletion and amortization | 551 | 538 |
Other operating expenses | 1,097 | 891 |
Total Operating Costs, Expenses and Other | 2,379 | 2,519 |
Operating Income | 816 | 1,078 |
Earnings from consolidated subsidiaries | 0 | 0 |
Earnings from equity investments | 94 | 76 |
Interest, net | (441) | (512) |
Amortization of excess cost of equity investments and other, net | (1) | 1 |
Income Before Income Taxes | 468 | 643 |
Income tax expense | (154) | (224) |
Net Income | 314 | 419 |
Net Loss Attributable to Noncontrolling Interests | 1 | 10 |
Net Income Attributable to Kinder Morgan, Inc. | 315 | 429 |
Preferred Stock Dividends | (39) | |
Net Income (Loss) Available to Common Stockholders | 276 | |
Total other comprehensive loss | 47 | (176) |
Comprehensive income | 361 | 243 |
Comprehensive income attributable to noncontrolling interests | 1 | 10 |
Comprehensive income attributable to KMI | $ 362 | $ 253 |
Guarantee of Securities of Su60
Guarantee of Securities of Subsidiaries Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 175 | $ 229 | $ 259 | $ 315 |
Other current assets | 285 | 366 | ||
Property, plant and equipment, net | 41,042 | 40,547 | ||
Investments | 6,035 | 6,040 | ||
Goodwill | 23,801 | 23,790 | ||
Other non-current assets | 2,271 | 2,029 | ||
Deferred income taxes | 5,103 | 5,323 | ||
Total assets | 84,229 | 84,104 | ||
Long-term debt | 42,105 | 42,406 | ||
Total liabilities | 48,683 | 48,701 | ||
Total KMI equity | 35,180 | 35,119 | ||
Noncontrolling interests | 366 | 284 | ||
Total Stockholders’ Equity | 35,546 | 35,403 | 35,359 | 34,426 |
Total Liabilities and Stockholders’ Equity | 84,229 | 84,104 | ||
Consolidating Adjustments | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | (13) | (48) | 0 | 0 |
Other current assets | (3) | (8) | ||
Property, plant and equipment, net | 0 | 0 | ||
Investments | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other non-current assets | 0 | 0 | ||
Deferred income taxes | (2,209) | (2,178) | ||
Total assets | (108,514) | (106,293) | ||
Current portion of debt | 0 | 0 | ||
All other current liabilities | (16) | (56) | ||
Long-term debt | 0 | 0 | ||
Notes payable to affiliates | (24,398) | (24,619) | ||
Deferred income taxes | (2,209) | (2,178) | ||
All other long-term liabilities and deferred credits | 0 | 0 | ||
Total liabilities | (45,039) | (40,832) | ||
Total KMI equity | (63,841) | (65,745) | ||
Noncontrolling interests | 366 | 284 | ||
Total Stockholders’ Equity | (63,475) | (65,461) | ||
Total Liabilities and Stockholders’ Equity | (108,514) | (106,293) | ||
Parent Issuer and Guarantor | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 10 | 123 | 13 | 4 |
Other current assets | 121 | 126 | ||
Property, plant and equipment, net | 262 | 252 | ||
Investments | 16 | 16 | ||
Goodwill | 15,089 | 15,089 | ||
Other non-current assets | 389 | 215 | ||
Deferred income taxes | 7,312 | 7,501 | ||
Total assets | 54,759 | 53,806 | ||
Current portion of debt | 948 | 67 | ||
All other current liabilities | 355 | 321 | ||
Long-term debt | 15,011 | 13,845 | ||
Notes payable to affiliates | 1,373 | 2,404 | ||
Deferred income taxes | 0 | 0 | ||
All other long-term liabilities and deferred credits | 655 | 722 | ||
Total liabilities | 19,579 | 18,687 | ||
Total KMI equity | 35,180 | 35,119 | ||
Noncontrolling interests | 0 | 0 | ||
Total Stockholders’ Equity | 35,180 | 35,119 | ||
Total Liabilities and Stockholders’ Equity | 54,759 | 53,806 | ||
Subsidiary Issuer and Guarantor - KMP | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 15 | 15 |
Other current assets | 120 | 119 | ||
Property, plant and equipment, net | 0 | 0 | ||
Investments | 2 | 2 | ||
Goodwill | 22 | 22 | ||
Other non-current assets | 470 | 307 | ||
Deferred income taxes | 0 | 0 | ||
Total assets | 51,329 | 51,407 | ||
Current portion of debt | 600 | 500 | ||
All other current liabilities | 225 | 458 | ||
Long-term debt | 19,607 | 20,053 | ||
Notes payable to affiliates | 448 | 448 | ||
Deferred income taxes | 0 | 0 | ||
All other long-term liabilities and deferred credits | 184 | 193 | ||
Total liabilities | 31,915 | 30,334 | ||
Total KMI equity | 19,414 | 21,073 | ||
Noncontrolling interests | 0 | 0 | ||
Total Stockholders’ Equity | 19,414 | 21,073 | ||
Total Liabilities and Stockholders’ Equity | 51,329 | 51,407 | ||
Subsidiary Issuer and Guarantor - Copano | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Other current assets | 0 | 0 | ||
Property, plant and equipment, net | 0 | 0 | ||
Investments | 0 | 0 | ||
Goodwill | 287 | 287 | ||
Other non-current assets | 1 | 1 | ||
Deferred income taxes | 0 | 0 | ||
Total assets | 2,751 | 2,629 | ||
Current portion of debt | 0 | 0 | ||
All other current liabilities | 13 | 7 | ||
Long-term debt | 376 | 378 | ||
Notes payable to affiliates | 753 | 622 | ||
Deferred income taxes | 2 | 2 | ||
All other long-term liabilities and deferred credits | 0 | 0 | ||
Total liabilities | 1,175 | 1,048 | ||
Total KMI equity | 1,576 | 1,581 | ||
Noncontrolling interests | 0 | 0 | ||
Total Stockholders’ Equity | 1,576 | 1,581 | ||
Total Liabilities and Stockholders’ Equity | 2,751 | 2,629 | ||
Subsidiary Guarantors | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 13 | 12 | 40 | 17 |
Other current assets | 1,854 | 2,163 | ||
Property, plant and equipment, net | 32,206 | 32,195 | ||
Investments | 5,898 | 5,906 | ||
Goodwill | 5,220 | 5,221 | ||
Other non-current assets | 4,791 | 4,943 | ||
Deferred income taxes | 0 | 0 | ||
Total assets | 66,404 | 66,322 | ||
Current portion of debt | 32 | 132 | ||
All other current liabilities | 1,625 | 1,987 | ||
Long-term debt | 6,431 | 7,447 | ||
Notes payable to affiliates | 20,417 | 19,840 | ||
Deferred income taxes | 613 | 594 | ||
All other long-term liabilities and deferred credits | 865 | 907 | ||
Total liabilities | 35,458 | 34,123 | ||
Total KMI equity | 30,946 | 32,199 | ||
Noncontrolling interests | 0 | 0 | ||
Total Stockholders’ Equity | 30,946 | 32,199 | ||
Total Liabilities and Stockholders’ Equity | 66,404 | 66,322 | ||
Subsidiary Non-Guarantors | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 165 | 142 | 191 | 279 |
Other current assets | 214 | 195 | ||
Property, plant and equipment, net | 8,574 | 8,100 | ||
Investments | 119 | 116 | ||
Goodwill | 3,183 | 3,171 | ||
Other non-current assets | 116 | 114 | ||
Deferred income taxes | 0 | 0 | ||
Total assets | 17,500 | 16,233 | ||
Current portion of debt | 122 | 122 | ||
All other current liabilities | 492 | 527 | ||
Long-term debt | 680 | 683 | ||
Notes payable to affiliates | 1,407 | 1,305 | ||
Deferred income taxes | 1,594 | 1,582 | ||
All other long-term liabilities and deferred credits | 478 | 408 | ||
Total liabilities | 5,595 | 5,341 | ||
Total KMI equity | 11,905 | 10,892 | ||
Noncontrolling interests | 0 | 0 | ||
Total Stockholders’ Equity | 11,905 | 10,892 | ||
Total Liabilities and Stockholders’ Equity | 17,500 | 16,233 | ||
Consolidated KMI | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 175 | 229 | $ 259 | $ 315 |
Other current assets | 2,306 | 2,595 | ||
Property, plant and equipment, net | 41,042 | 40,547 | ||
Investments | 6,035 | 6,040 | ||
Goodwill | 23,801 | 23,790 | ||
Other non-current assets | 5,767 | 5,580 | ||
Deferred income taxes | 5,103 | 5,323 | ||
Total assets | 84,229 | 84,104 | ||
Current portion of debt | 1,702 | 821 | ||
All other current liabilities | 2,694 | 3,244 | ||
Long-term debt | 42,105 | 42,406 | ||
Notes payable to affiliates | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
All other long-term liabilities and deferred credits | 2,182 | 2,230 | ||
Total liabilities | 48,683 | 48,701 | ||
Total KMI equity | 35,180 | 35,119 | ||
Noncontrolling interests | 366 | 284 | ||
Total Stockholders’ Equity | 35,546 | 35,403 | ||
Total Liabilities and Stockholders’ Equity | 84,229 | 84,104 | ||
Affiliated Entity [Member] | Consolidating Adjustments | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | (18,416) | (13,979) | ||
Investments | (63,475) | (65,461) | ||
Other non-current assets | (24,398) | (24,619) | ||
All other current liabilities | (18,416) | (13,979) | ||
Affiliated Entity [Member] | Parent Issuer and Guarantor | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 4,744 | 2,233 | ||
Investments | 25,726 | 27,401 | ||
Other non-current assets | 1,090 | 850 | ||
All other current liabilities | 1,237 | 1,328 | ||
Affiliated Entity [Member] | Subsidiary Issuer and Guarantor - KMP | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 2,207 | 1,600 | ||
Investments | 26,754 | 28,038 | ||
Other non-current assets | 21,754 | 21,319 | ||
All other current liabilities | 10,851 | 8,682 | ||
Affiliated Entity [Member] | Subsidiary Issuer and Guarantor - Copano | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 115 | 0 | ||
Investments | 2,348 | 2,341 | ||
Other non-current assets | 0 | 0 | ||
All other current liabilities | 31 | 39 | ||
Affiliated Entity [Member] | Subsidiary Guarantors | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 10,520 | 9,451 | ||
Investments | 4,653 | 4,361 | ||
Other non-current assets | 1,249 | 2,070 | ||
All other current liabilities | 5,475 | 3,216 | ||
Affiliated Entity [Member] | Subsidiary Non-Guarantors | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 830 | 695 | ||
Investments | 3,994 | 3,320 | ||
Other non-current assets | 305 | 380 | ||
All other current liabilities | 822 | 714 | ||
Affiliated Entity [Member] | Consolidated KMI | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Other current assets | 0 | 0 | ||
Investments | 0 | 0 | ||
Other non-current assets | 0 | 0 | ||
All other current liabilities | $ 0 | $ 0 |
Guarantee of Securities of Su61
Guarantee of Securities of Subsidiaries Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | $ 1,050 | $ 1,256 |
Capital expenditures | (811) | (897) |
Contributions to investments | (44) | (30) |
Acquisitions of assets and investments, net of cash acquired | (330) | (1,864) |
Distributions from equity investments in excess of cumulative earnings | 43 | 50 |
Other, net | (2) | (34) |
Net Cash Used in Investing Activities | (1,144) | (2,775) |
Issuances of debt | 4,610 | 7,136 |
Payments of debt | (4,336) | (6,305) |
Debt issue costs | (6) | (16) |
Issuances of common shares | 0 | 1,626 |
Cash dividends - common shares | (279) | (962) |
Contributions from noncontrolling interests | 87 | 0 |
Distributions to noncontrolling interests | (4) | (10) |
Other, net | 0 | (1) |
Net Cash Provided by Financing Activities | 35 | 1,468 |
Effect of exchange rate changes on cash and cash equivalents | 5 | (5) |
Net decrease in Cash and Cash Equivalents | (54) | (56) |
Cash and Cash Equivalents, beginning of period | 229 | 315 |
Cash and Cash Equivalents, end of period | 175 | 259 |
Consolidating Adjustments | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | (2,308) | (2,591) |
Funding to affiliates | 3,097 | 6,815 |
Capital expenditures | 0 | 4 |
Contributions to investments | 0 | 0 |
Investment in KMP | 159 | |
Acquisitions of assets and investments, net of cash acquired | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | (776) | 0 |
Other, net | 0 | (4) |
Net Cash Used in Investing Activities | 2,321 | 6,974 |
Issuances of debt | 0 | 0 |
Payments of debt | 0 | 0 |
Funding (to) from affiliates | (3,097) | (6,815) |
Debt issue costs | 0 | 0 |
Issuances of common shares | 0 | |
Cash dividends - common shares | 0 | 0 |
Cash dividends - preferred shares | 0 | |
Contributions from parents | (87) | (159) |
Contributions from noncontrolling interests | 87 | |
Distributions to parents | 3,123 | 2,601 |
Distributions to noncontrolling interests | (4) | (10) |
Other, net | 0 | |
Net Cash Provided by Financing Activities | 22 | (4,383) |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net decrease in Cash and Cash Equivalents | 35 | 0 |
Cash and Cash Equivalents, beginning of period | (48) | 0 |
Cash and Cash Equivalents, end of period | (13) | 0 |
Parent Issuer and Guarantor | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | (733) | (300) |
Funding to affiliates | (1,360) | (691) |
Capital expenditures | (24) | (18) |
Contributions to investments | (31) | 0 |
Investment in KMP | (159) | |
Acquisitions of assets and investments, net of cash acquired | 0 | (1,709) |
Distributions from equity investments in excess of cumulative earnings | 790 | 14 |
Other, net | 0 | 0 |
Net Cash Used in Investing Activities | (625) | (2,563) |
Issuances of debt | 4,610 | 7,136 |
Payments of debt | (2,729) | (5,967) |
Funding (to) from affiliates | (314) | 1,055 |
Debt issue costs | (6) | (16) |
Issuances of common shares | 1,626 | |
Cash dividends - common shares | (279) | (962) |
Cash dividends - preferred shares | (37) | |
Contributions from parents | 0 | 0 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | 0 | 0 |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | 0 | |
Net Cash Provided by Financing Activities | 1,245 | 2,872 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net decrease in Cash and Cash Equivalents | (113) | 9 |
Cash and Cash Equivalents, beginning of period | 123 | 4 |
Cash and Cash Equivalents, end of period | 10 | 13 |
Subsidiary Issuer and Guarantor - KMP | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | 1,830 | 3,675 |
Funding to affiliates | (759) | (4,664) |
Capital expenditures | 0 | 0 |
Contributions to investments | 0 | 0 |
Investment in KMP | 0 | |
Acquisitions of assets and investments, net of cash acquired | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | 0 | 0 |
Other, net | (30) | (31) |
Net Cash Used in Investing Activities | (789) | (4,695) |
Issuances of debt | 0 | 0 |
Payments of debt | (500) | (300) |
Funding (to) from affiliates | 881 | 2,311 |
Debt issue costs | 0 | 0 |
Issuances of common shares | 0 | |
Cash dividends - common shares | 0 | 0 |
Cash dividends - preferred shares | 0 | |
Contributions from parents | 0 | 156 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | (1,422) | (1,147) |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | 0 | |
Net Cash Provided by Financing Activities | (1,041) | 1,020 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net decrease in Cash and Cash Equivalents | 0 | 0 |
Cash and Cash Equivalents, beginning of period | 0 | 15 |
Cash and Cash Equivalents, end of period | 0 | 15 |
Subsidiary Issuer and Guarantor - Copano | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | (131) | 139 |
Funding to affiliates | 0 | 0 |
Capital expenditures | 0 | (2) |
Contributions to investments | 0 | 0 |
Investment in KMP | 0 | |
Acquisitions of assets and investments, net of cash acquired | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | 0 | 0 |
Other, net | 0 | 4 |
Net Cash Used in Investing Activities | 0 | 2 |
Issuances of debt | 0 | 0 |
Payments of debt | 0 | 0 |
Funding (to) from affiliates | 131 | (141) |
Debt issue costs | 0 | 0 |
Issuances of common shares | 0 | |
Cash dividends - common shares | 0 | 0 |
Cash dividends - preferred shares | 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 | |
Net Cash Provided by Financing Activities | 131 | (141) |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net decrease 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 |
Subsidiary Guarantors | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | 2,377 | 500 |
Funding to affiliates | (869) | (1,364) |
Capital expenditures | (340) | (786) |
Contributions to investments | (10) | (30) |
Investment in KMP | 0 | |
Acquisitions of assets and investments, net of cash acquired | (330) | (155) |
Distributions from equity investments in excess of cumulative earnings | 29 | 36 |
Other, net | 30 | 4 |
Net Cash Used in Investing Activities | (1,490) | (2,295) |
Issuances of debt | 0 | 0 |
Payments of debt | (1,104) | (36) |
Funding (to) from affiliates | 1,878 | 3,256 |
Debt issue costs | 0 | 0 |
Issuances of common shares | 0 | |
Cash dividends - common shares | 0 | 0 |
Cash dividends - preferred shares | 0 | |
Contributions from parents | 0 | 3 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | (1,660) | (1,404) |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | (1) | |
Net Cash Provided by Financing Activities | (886) | 1,818 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 |
Net decrease in Cash and Cash Equivalents | 1 | 23 |
Cash and Cash Equivalents, beginning of period | 12 | 17 |
Cash and Cash Equivalents, end of period | 13 | 40 |
Subsidiary Non-Guarantors | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | 15 | (167) |
Funding to affiliates | (109) | (96) |
Capital expenditures | (447) | (95) |
Contributions to investments | (3) | 0 |
Investment in KMP | 0 | |
Acquisitions of assets and investments, net of cash acquired | 0 | 0 |
Distributions from equity investments in excess of cumulative earnings | 0 | 0 |
Other, net | (2) | (7) |
Net Cash Used in Investing Activities | (561) | (198) |
Issuances of debt | 0 | 0 |
Payments of debt | (3) | (2) |
Funding (to) from affiliates | 521 | 334 |
Debt issue costs | 0 | 0 |
Issuances of common shares | 0 | |
Cash dividends - common shares | 0 | 0 |
Cash dividends - preferred shares | 0 | |
Contributions from parents | 87 | 0 |
Contributions from noncontrolling interests | 0 | |
Distributions to parents | (41) | (50) |
Distributions to noncontrolling interests | 0 | 0 |
Other, net | 0 | |
Net Cash Provided by Financing Activities | 564 | 282 |
Effect of exchange rate changes on cash and cash equivalents | 5 | (5) |
Net decrease in Cash and Cash Equivalents | 23 | (88) |
Cash and Cash Equivalents, beginning of period | 142 | 279 |
Cash and Cash Equivalents, end of period | 165 | 191 |
Consolidated KMI | ||
Condensed Cash Flow Statements, Captions [Line Items] | ||
Net cash (used in) provided by operating activities | 1,050 | 1,256 |
Funding to affiliates | 0 | 0 |
Capital expenditures | (811) | (897) |
Contributions to investments | (44) | (30) |
Investment in KMP | 0 | |
Acquisitions of assets and investments, net of cash acquired | (330) | (1,864) |
Distributions from equity investments in excess of cumulative earnings | 43 | 50 |
Other, net | (2) | (34) |
Net Cash Used in Investing Activities | (1,144) | (2,775) |
Issuances of debt | 4,610 | 7,136 |
Payments of debt | (4,336) | (6,305) |
Funding (to) from affiliates | 0 | 0 |
Debt issue costs | (6) | (16) |
Issuances of common shares | 1,626 | |
Cash dividends - common shares | (279) | (962) |
Cash dividends - preferred shares | (37) | |
Contributions from parents | 0 | 0 |
Contributions from noncontrolling interests | 87 | |
Distributions to parents | 0 | 0 |
Distributions to noncontrolling interests | (4) | (10) |
Other, net | (1) | |
Net Cash Provided by Financing Activities | 35 | 1,468 |
Effect of exchange rate changes on cash and cash equivalents | 5 | (5) |
Net decrease in Cash and Cash Equivalents | (54) | (56) |
Cash and Cash Equivalents, beginning of period | 229 | 315 |
Cash and Cash Equivalents, end of period | $ 175 | $ 259 |