Kinder Morgan Energy Partners L P 10-Q 2013 Q3 Quarterly report

KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES

EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS

(Units in millions; Dollars in millions except per unit amounts)

	Three Months Ended September 30,
	2013			2012
Weighted Average Number of Units Used in Computation of Limited Partners' Net Income (Loss) per Unit	435			356
Calculation of Limited Partners' interest in Net Income (Loss)
Amounts attributable to Kinder Morgan Energy Partners, L.P.:
Income from Continuing Operations	$	689		$	535
Less: Pre-acquisition earnings allocated to General Partner	—			(62		)
Add: Drop Down asset groups' severance expense allocated to General Partner	2			—
Less: General Partner's remaining interest	(436		)	(367		)
Limited Partners' Interest	255			106
Add: Limited Partners' Interest in Discontinued Operations	—			(128		)
Limited Partners' Interest in Net Income (Loss)	$	255		$	(22	)
Limited Partners' Net Income (Loss) per Unit - Basic and Diluted:
Income from Continuing Operations	$	0.59		$	0.30
Loss from Discontinued Operations	—			(0.36		)
Net Income (Loss) - Basic and Diluted	$	0.59		$	(0.06	)

	Nine Months Ended September 30,
	2013			2012
Weighted Average Number of Units Used in Computation of Limited Partners' Net Income (Loss) per Unit	408			345
Calculation of Limited Partners' interest in Net Income (Loss)
Amounts attributable to Kinder Morgan Energy Partners, L.P.:
Income from Continuing Operations	$	2,474		$	1,418
Less: Pre-acquisition earnings allocated to General Partner	(19		)	(41		)
Add: Drop Down asset groups' severance expense allocated to General Partner	8			—
Less: General Partner's remaining interest	(1,260		)	(1,024		)
Limited Partners' Interest	1,203			353
Add: Limited Partners' Interest in Discontinued Operations	(2		)	(668		)
Limited Partners' Interest in Net Income (Loss)	$	1,201		$	(315	)
Limited Partners' Net Income (Loss) per Unit - Basic and Diluted:
Income from Continuing Operations	$	2.95		$	1.02
Loss from Discontinued Operations	(0.01		)	(1.93		)
Net Income (Loss) - Basic and Diluted	$	2.94		$	(0.91	)