Guarantees of Securities of Subsidiaries [Text Block] | Guarantee of Securities of Subsidiaries KMI, along with its direct subsidiary KMP, are issuers of certain public debt securities. KMI, KMP and substantially all of KMI’s wholly owned domestic subsidiaries, are parties 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. Accordingly, with the exception of certain subsidiaries identified as Subsidiary Non-Guarantors, the parent issuer, subsidiary issuer 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 or KMP are in the same position with respect to the net assets, income and cash flows of KMI and the Subsidiary Issuer 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 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 Parent Issuer and Guarantor, Subsidiary Issuer and Guarantor-KMP, and Subsidiary Guarantors in separate columns in this single set of condensed consolidating financial statements. Excluding fair value adjustments, as of December 31, 2019 , Parent Issuer and Guarantor, Subsidiary Issuer and Guarantor-KMP, and Subsidiary Guarantors had $13,264 million , $16,610 million , and $2,535 million of Guaranteed Notes outstanding, respectively. Included in the Subsidiary Guarantors debt balance as presented in the accompanying December 31, 2019 condensed consolidating balance sheet are approximately $168 million of other financing obligations that are not subject to the cross guarantee agreement. The accounts within the Parent Issuer and Guarantor, Subsidiary Issuer and Guarantor-KMP, 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 condensed consolidating 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. Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2019 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Total Revenues $ — $ — $ 12,016 $ 1,290 $ (97 ) $ 13,209 Operating Costs, Expenses and Other Costs of sales — — 3,160 154 (51 ) 3,263 Depreciation, depletion and amortization 20 — 2,114 277 — 2,411 Other operating expense — 1 2,248 459 (46 ) 2,662 Total Operating Costs, Expenses and Other 20 1 7,522 890 (97 ) 8,336 Operating (Loss) Income (20 ) (1 ) 4,494 400 — 4,873 Other Income (Expense) Earnings from consolidated subsidiaries 3,690 3,948 857 98 (8,593 ) — Earnings from equity investments — — 101 — — 101 Interest, net (757 ) (2 ) (1,019 ) (23 ) — (1,801 ) Amortization of excess cost of equity investments and other, net (15 ) (2 ) (10 ) 19 — (8 ) Income Before Income Tax 2,898 3,943 4,423 494 (8,593 ) 3,165 Income Tax Expense (708 ) (3 ) (56 ) (159 ) — (926 ) Net Income 2,190 3,940 4,367 335 (8,593 ) 2,239 Net Income Attributable to Noncontrolling Interests — — — — (49 ) (49 ) Net Income Attributable to Controlling Interests $ 2,190 $ 3,940 $ 4,367 $ 335 $ (8,642 ) $ 2,190 Net Income $ 2,190 $ 3,940 $ 4,367 $ 335 $ (8,593 ) $ 2,239 Total other comprehensive (loss) income (3 ) 28 (51 ) 224 (184 ) 14 Comprehensive income 2,187 3,968 4,316 559 (8,777 ) 2,253 Comprehensive income attributable to noncontrolling interests — — — — (66 ) (66 ) Comprehensive income attributable to controlling interests $ 2,187 $ 3,968 $ 4,316 $ 559 $ (8,843 ) $ 2,187 Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2018 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Total Revenues $ — $ — $ 12,767 $ 1,526 $ (149 ) $ 14,144 Operating Costs, Expenses and Other Costs of sales — — 4,247 277 (103 ) 4,421 Depreciation, depletion and amortization 19 — 1,971 307 — 2,297 Other operating (income) expense (39 ) 1 3,693 23 (46 ) 3,632 Total Operating Costs, Expenses and Other (20 ) 1 9,911 607 (149 ) 10,350 Operating Income (Loss) 20 (1 ) 2,856 919 — 3,794 Other Income (Expense) Earnings from consolidated subsidiaries 2,760 2,533 599 62 (5,954 ) — Earnings from equity investments — — 617 — — 617 Interest, net (780 ) (8 ) (1,090 ) (39 ) — (1,917 ) Amortization of excess cost of equity investments and other, net 27 — (18 ) 3 — 12 Income Before Income Tax 2,027 2,524 2,964 945 (5,954 ) 2,506 Income Tax (Expense) Benefit (418 ) 68 (61 ) (176 ) — (587 ) Net Income 1,609 2,592 2,903 769 (5,954 ) 1,919 Net Income Attributable to Noncontrolling Interests — — — — (310 ) (310 ) Net Income Attributable to Controlling Interests 1,609 2,592 2,903 769 (6,264 ) 1,609 Preferred Stock Dividends (128 ) — — — — (128 ) Net Income Available to Common Shareholders $ 1,481 $ 2,592 $ 2,903 $ 769 $ (6,264 ) $ 1,481 Net Income $ 1,609 $ 2,592 $ 2,903 $ 769 $ (5,954 ) $ 1,919 Total other comprehensive income 320 290 280 136 (688 ) 338 Comprehensive income 1,929 2,882 3,183 905 (6,642 ) 2,257 Comprehensive income attributable to noncontrolling interests — — — — (328 ) (328 ) Comprehensive income attributable to controlling interests $ 1,929 $ 2,882 $ 3,183 $ 905 $ (6,970 ) $ 1,929 Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2017 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Total Revenues $ 35 $ — $ 12,202 $ 1,614 $ (146 ) $ 13,705 Operating Costs, Expenses and Other Costs of sales — — 4,124 322 (101 ) 4,345 Depreciation, depletion and amortization 16 — 1,933 312 — 2,261 Other operating expense 78 1 3,014 522 (45 ) 3,570 Total Operating Costs, Expenses and Other 94 1 9,071 1,156 (146 ) 10,176 Operating (Loss) Income (59 ) (1 ) 3,131 458 — 3,529 Other Income (Expense) Earnings from consolidated subsidiaries 3,575 2,681 419 59 (6,734 ) — Earnings from equity investments — — 428 — — 428 Interest, net (701 ) 7 (1,104 ) (34 ) — (1,832 ) Amortization of excess cost of equity investments and other, net 2 — 13 21 — 36 Income Before Income Tax 2,817 2,687 2,887 504 (6,734 ) 2,161 Income Tax (Expense) Benefit (2,634 ) (5 ) 237 464 — (1,938 ) Net Income 183 2,682 3,124 968 (6,734 ) 223 Net Income Attributable to Noncontrolling Interests — — — — (40 ) (40 ) Net Income Attributable to Controlling Interests 183 2,682 3,124 968 (6,774 ) 183 Preferred Stock Dividends (156 ) — — — — (156 ) Net Income Available to Common Shareholders $ 27 $ 2,682 $ 3,124 $ 968 $ (6,774 ) $ 27 Net Income $ 183 $ 2,682 $ 3,124 $ 968 $ (6,734 ) $ 223 Total other comprehensive income 69 194 217 160 (525 ) 115 Comprehensive income 252 2,876 3,341 1,128 (7,259 ) 338 Comprehensive income attributable to noncontrolling interests — — — — (86 ) (86 ) Comprehensive income attributable to controlling interests $ 252 $ 2,876 $ 3,341 $ 1,128 $ (7,345 ) $ 252 Condensed Consolidating Balance Sheet as of December 31, 2019 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI ASSETS Cash and cash equivalents $ 2 $ — $ — $ 183 $ — $ 185 Other current assets - affiliates 5,249 4,497 30,565 1,105 (41,416 ) — All other current assets 105 39 1,820 1,106 (17 ) 3,053 Property, plant and equipment, net 218 — 29,997 6,204 — 36,419 Investments 664 — 7,004 91 — 7,759 Investments in subsidiaries 46,873 44,485 5,221 4,449 (101,028 ) — Goodwill 13,721 22 5,167 2,541 — 21,451 Notes receivable from affiliates 912 20,323 453 1,325 (23,013 ) — Deferred income taxes 2,495 — — — (1,638 ) 857 Other non-current assets 677 223 3,820 96 (383 ) 4,433 Total assets $ 70,916 $ 69,589 $ 84,047 $ 17,100 $ (167,495 ) $ 74,157 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY Liabilities Current portion of debt $ 386 $ 1,835 $ 30 $ 226 $ — $ 2,477 Other current liabilities - affiliates 20,329 14,247 5,744 1,096 (41,416 ) — All other current liabilities 520 323 1,507 300 (27 ) 2,623 Long-term debt 13,239 15,134 3,000 542 — 31,915 Notes payable to affiliates 1,693 448 20,517 355 (23,013 ) — Deferred income taxes — — 625 1,013 (1,638 ) — Other long-term liabilities and deferred credits 1,007 28 1,203 388 (373 ) 2,253 Total liabilities 37,174 32,015 32,626 3,920 (66,467 ) 39,268 Redeemable noncontrolling interest — — 803 — — 803 Stockholders’ equity Total KMI equity 33,742 37,574 50,618 13,180 (101,372 ) 33,742 Noncontrolling interests — — — — 344 344 Total stockholders’ equity 33,742 37,574 50,618 13,180 (101,028 ) 34,086 Total Liabilities, Redeemable Noncontrolling Interest and Stockholders’ Equity $ 70,916 $ 69,589 $ 84,047 $ 17,100 $ (167,495 ) $ 74,157 Condensed Consolidating Balance Sheet as of December 31, 2018 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI ASSETS Cash and cash equivalents $ 8 $ — $ — $ 3,277 $ (5 ) $ 3,280 Other current assets - affiliates 4,465 4,788 23,851 1,031 (34,135 ) — All other current assets 171 17 2,056 212 (14 ) 2,442 Property, plant and equipment, net 231 — 30,750 6,916 — 37,897 Investments 664 — 6,718 99 — 7,481 Investments in subsidiaries 42,096 40,049 6,077 4,324 (92,546 ) — Goodwill 13,789 22 5,166 2,988 — 21,965 Notes receivable from affiliates 945 20,345 247 1,043 (22,580 ) — Deferred income taxes 3,137 — — — (1,571 ) 1,566 Other non-current assets 233 105 3,823 74 — 4,235 Total assets $ 65,739 $ 65,326 $ 78,688 $ 19,964 $ (150,851 ) $ 78,866 LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY Liabilities Current portion of debt $ 1,933 $ 1,300 $ 30 $ 125 $ — $ 3,388 Other current liabilities - affiliates 14,189 14,087 4,898 961 (34,135 ) — All other current liabilities 486 354 1,838 1,510 (19 ) 4,169 Long-term debt 13,474 16,799 3,020 643 — 33,936 Notes payable to affiliates 1,234 448 20,543 355 (22,580 ) — Deferred income taxes — — 503 1,068 (1,571 ) — Other long-term liabilities and deferred credits 745 59 944 428 — 2,176 Total liabilities 32,061 33,047 31,776 5,090 (58,305 ) 43,669 Redeemable noncontrolling interest — — 666 — — 666 Stockholders’ equity Total KMI equity 33,678 32,279 46,246 14,874 (93,399 ) 33,678 Noncontrolling interests — — — — 853 853 Total stockholders’ equity 33,678 32,279 46,246 14,874 (92,546 ) 34,531 Total Liabilities, Redeemable Noncontrolling Interest and Stockholders’ Equity $ 65,739 $ 65,326 $ 78,688 $ 19,964 $ (150,851 ) $ 78,866 Condensed Consolidating Statements of Cash Flows for the Year Ended December 31, 2019 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Net cash (used in) provided by operating activities $ (2,894 ) $ 4,305 $ 14,102 $ 575 $ (11,340 ) $ 4,748 Cash flows from investing activities Proceeds from the KML and U.S. Cochin Sale, net of cash disposed — — 1,527 — — 1,527 Proceeds from the TMPL Sale, net of cash disposed and working capital adjustments — — — (28 ) — (28 ) Acquisitions of assets and investments — — (79 ) — — (79 ) Capital expenditures (22 ) — (1,816 ) (432 ) — (2,270 ) Sales of property, plant and equipment, investments and other net assets, net of removal costs 9 — 142 (41 ) — 110 Contributions to investments (151 ) — (1,145 ) (3 ) — (1,299 ) Distributions from equity investments in excess of cumulative earnings 1,315 — 323 — (1,305 ) 333 Funding to affiliates (5,337 ) (250 ) (11,116 ) (895 ) 17,598 — Loans to related parties — — (31 ) — — (31 ) Other, net — — 23 — — 23 Net cash used in investing activities (4,186 ) (250 ) (12,172 ) (1,399 ) 16,293 (1,714 ) Cash flows from financing activities Issuances of debt 7,927 — — 109 — 8,036 Payments of debt (9,823 ) (1,300 ) (10 ) (91 ) — (11,224 ) Debt issue costs (9 ) — — (1 ) — (10 ) Cash dividends - common shares (2,163 ) — — — — (2,163 ) Repurchases of common shares (2 ) — — — — (2 ) Funding from affiliates 11,172 2,190 3,567 669 (17,598 ) — Contributions from investment partner — — 148 — — 148 Contributions from parents — — 3 — (3 ) — Contributions from noncontrolling interests — — — — 3 3 Distributions to investment partner — — (11 ) — — (11 ) Distributions to parents — (4,945 ) (5,627 ) (3,012 ) 13,584 — Distribution to noncontrolling interests - KML distribution of the TMPL Sale proceeds — — — — (879 ) (879 ) Distributions to noncontrolling interests - other — — — — (55 ) (55 ) Other, net (28 ) — — — — (28 ) Net cash provided by (used in) financing activities 7,074 (4,055 ) (1,930 ) (2,326 ) (4,948 ) (6,185 ) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Deposits — — — 29 — 29 Net decrease in Cash, Cash Equivalents and Restricted Deposits (6 ) — — (3,121 ) 5 (3,122 ) Cash, Cash Equivalents, and Restricted Deposits, beginning of period 8 — — 3,328 (5 ) 3,331 Cash, Cash Equivalents, and Restricted Deposits, end of period $ 2 $ — $ — $ 207 $ — $ 209 Condensed Consolidating Statements of Cash Flows for the Year Ended December 31, 2018 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Net cash (used in) provided by operating activities $ (2,758 ) $ 3,879 $ 11,129 $ 1,117 $ (8,324 ) $ 5,043 Cash flows from investing activities Proceeds from the TMPL Sale, net of cash disposed and working capital adjustments — — — 2,998 — 2,998 Acquisitions of investments — — (39 ) — — (39 ) Capital expenditures (24 ) — (1,995 ) (885 ) — (2,904 ) Sales of property, plant and equipment, investments and other net assets, net of removal costs 9 — 90 5 — 104 Contributions to investments (12 ) — (413 ) (8 ) — (433 ) Distributions from equity investments in excess of cumulative earnings 2,342 — 234 1 (2,340 ) 237 Funding to affiliates (6,521 ) (26 ) (7,419 ) (1,003 ) 14,969 — Loans to related party — — (31 ) — — (31 ) Net cash (used in) provided by investing activities (4,206 ) (26 ) (9,573 ) 1,108 12,629 (68 ) Cash flows from financing activities Issuances of debt 14,143 — — 608 — 14,751 Payments of debt (12,640 ) (975 ) (784 ) (192 ) — (14,591 ) Debt issue costs (35 ) — — (7 ) — (42 ) Cash dividends - common shares (1,618 ) — — — — (1,618 ) Cash dividends - preferred shares (156 ) — — — — (156 ) Repurchases of common shares (273 ) — — — — (273 ) Funding from affiliates 7,560 2,028 4,542 839 (14,969 ) — Contributions from investment partner — — 181 — — 181 Contributions from parents — — 19 — (19 ) — Contributions from noncontrolling interests — — — — 19 19 Distributions to parents — (4,907 ) (5,514 ) (317 ) 10,738 — Distributions to noncontrolling interests — — — — (78 ) (78 ) Other, net (12 ) — — (5 ) — (17 ) Net cash provided by (used in) financing activities 6,969 (3,854 ) (1,556 ) 926 (4,309 ) (1,824 ) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Deposits — — — (146 ) — (146 ) Net increase (decrease) in Cash, Cash Equivalents and Restricted Deposits 5 (1 ) — 3,005 (4 ) 3,005 Cash, Cash Equivalents, and Restricted Deposits, beginning of period 3 1 — 323 (1 ) 326 Cash, Cash Equivalents, and Restricted Deposits, end of period $ 8 $ — $ — $ 3,328 $ (5 ) $ 3,331 Condensed Consolidating Statements of Cash Flows for the Year Ended December 31, 2017 (In Millions) Parent Subsidiary Subsidiary Subsidiary Consolidating Adjustments Consolidated KMI Net cash (used in) provided by operating activities $ (3,184 ) $ 3,911 $ 11,523 $ 1,121 $ (8,770 ) $ 4,601 Cash flows from investing activities Acquisitions of investments — — (4 ) — — (4 ) Capital expenditures (23 ) — (2,390 ) (775 ) — (3,188 ) Sales of property, plant and equipment, investments, and other net assets, net of removal costs 16 — 94 8 — 118 Contributions to investments (237 ) — (435 ) (12 ) — (684 ) Distributions from equity investments in excess of cumulative earnings 2,297 — 326 — (2,249 ) 374 Funding (to) from affiliates (4,419 ) 779 (7,040 ) (1,028 ) 11,708 — Loans to related party (23 ) — — — — (23 ) Other, net — 1 4 (1 ) — 4 Net cash (used in) provided by investing activities (2,389 ) 780 (9,445 ) (1,808 ) 9,459 (3,403 ) Cash flows from financing activities Issuances of debt 8,609 — — 259 — 8,868 Payments of debt (9,288 ) (600 ) (897 ) (279 ) — (11,064 ) Debt issue costs (12 ) — — (58 ) — (70 ) Cash dividends - common shares (1,120 ) — — — — (1,120 ) Cash dividends - preferred shares (156 ) — — — — (156 ) Repurchases of common shares (250 ) — — — — (250 ) Funding from (to) affiliates 7,327 776 3,797 (192 ) (11,708 ) — Contributions from investment partner — — 485 — — 485 Contributions from parents, including net proceeds from KML IPO and preferred share issuance — — — 1,673 (1,673 ) — Contributions from noncontrolling interests - net proceeds from KML IPO 4 — — — 1,241 1,245 Contributions from noncontrolling interests - net proceeds from KML preferred share issuances — — — — 420 420 Contributions from noncontrolling interests - other — — — — 12 12 Distributions to parents — (4,902 ) (5,472 ) (687 ) 11,061 — Distributions to noncontrolling interests — — — — (42 ) (42 ) Other, net (9 ) — — — — (9 ) Net cash provided by (used in) financing activities 5,105 (4,726 ) (2,087 ) 716 (689 ) (1,681 ) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Deposits — — — 22 — 22 Net (decrease) increase in Cash, Cash Equivalents and Restricted Deposits (468 ) (35 ) (9 ) 51 — (461 ) Cash, Cash Equivalents, and Restricted Deposits, beginning of period 471 36 9 272 (1 ) 787 Cash, Cash Equivalents, and Restricted Deposits, end of period $ 3 $ 1 $ — $ 323 $ (1 ) $ 326 |