KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES
EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(Dollars In Thousands)
FOR THE YEAR ENDED DECEMBER 31, 2002 2001 2000
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Weighted-average number of limited partner units on
which limited partners' net income per unit is based:
Basic 172,016,574 153,901,311 126,213,102
Add: Incremental units under common unit option plan 169,065 208,764 87,428
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Assuming dilution 172,185,639 154,110,075 126,300,530
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Net Income $ 608,377 $ 442,343 $ 278,348
Less: General Partner's interest in Net Income (270,816) (202,095) (109,470)
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Limited Partners' interest in Net Income $ 337,561 $ 240,248 $ 168,878
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Limited Partners' Net Income per unit:
Basic $ 1.96 $ 1.56 $ 1.34
Diluted $ 1.96 $ 1.56 $ 1.34