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, | ||||||||
2008 | 2007 | |||||||
| Weighted average number of limited partners’ units on which limited | ||||||||
| partners’ net income per unit is based: | ||||||||
| Basic | 258.8 | 239.0 | ||||||
| Add: Incremental units under contracts to issue units depending on | ||||||||
| the market price of the units at a future date | — | — | ||||||
| Assuming dilution | 258.8 | 239.0 | ||||||
| Calculation of Limited Partners’ interest in Net Income: | ||||||||
| Income from Continuing Operations | $ | 329.8 | $ | 205.2 | ||||
| Less: General Partner’s interest in Income from Continuing | ||||||||
| Operations | (205.6 | ) | (155.7 | ) | ||||
| Limited Partners’ interest in Income from Continuing Operations | 124.2 | 49.5 | ||||||
| Add:Limited Partners’ interest in Income from Discontinued | ||||||||
| Operations | — | 8.5 | ||||||
| Limited Partners’ interest in Net Income | $ | 124.2 | $ | 58.0 | ||||
| Basic and Diluted Limited Partners’ Net Income per unit: | ||||||||
| Income from Continuing Operations | $ | 0.48 | $ | 0.21 | ||||
| Income from Discontinued Operations | $ | — | $ | 0.03 | ||||
| Net Income | $ | 0.48 | $ | 0.24 | ||||
Nine Months Ended | ||||||||
2008 | 2007 | |||||||
| Weighted average number of limited partners’ units on which limited | ||||||||
| partners’ net income per unit is based: | ||||||||
| Basic | 255.5 | 235.0 | ||||||
| Add: Incremental units under contracts to issue units depending on | ||||||||
| the market price of the units at a future date | — | 0.1 | ||||||
| Assuming dilution | 255.5 | 235.1 | ||||||
| Calculation of Limited Partners’ interest in Net Income (Loss): | ||||||||
| Income from Continuing Operations | $ | 1,037.4 | $ | 275.9 | ||||
| Less:General Partner’s interest in Income from Continuing | ||||||||
| Operations | (588.9 | ) | (439.9 | ) | ||||
| Limited Partners’ interest in Income (Loss) from Continuing | ||||||||
| Operations | 448.5 | (164.0 | ) | |||||
| Add: Limited Partners’ interest in Income from Discontinued | ||||||||
| Operations | 1.3 | 20.9 | ||||||
| Limited Partners’ interest in Net Income (Loss) | $ | 449.8 | $ | (143.1 | ) | |||
| Basic and Diluted Limited Partners’ Net Income (Loss) per unit: | ||||||||
| Income (Loss) from Continuing Operations | $ | 1.76 | $ | (0.70 | ) | |||
| Income from Discontinued Operations | $ | — | $ | 0.09 | ||||
| Net Income (Loss) | $ | 1.76 | $ | (0.61 | ) | |||