KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES
EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
(Dollars In Thousands Except Per Unit Amounts)
Three Months Ended June 30,
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2006 2005
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Weighted average number of limited partners'units on which limited
partners' net income per unit is based:
Basic................................................................ 221,813,433 209,220,246
Add: Incremental units under common unit option plan and under
contracts to issue units depending on the market price of the units
at a future date................................................... 336,603 245,195
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Assuming dilution.................................................... 222,150,036 209,465,441
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Calculation of Limited Partners' interest in Net Income:
Net Income........................................................... $ 247,061 $ 221,826
Less: General Partner's interest in Net Income...................... (130,156) (117,253)
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Limited Partners' interest in Net Income............................. $ 116,905 $ 104,573
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Limited Partners' Net Income per unit:
Basic................................................................ $ 0.53 $ 0.50
Diluted.............................................................. $ 0.53 $ 0.50
Six Months Ended June 30,
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2006 2005
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Weighted average number of limited partners' units on which limited
partners' net income per unit is based:
Basic................................................................ 221,286,347 208,378,724
Add: Incremental units under common unit option plan and under
contracts to issue units depending on the market price of the units
at a future date................................................... 331,350 150,432
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Assuming dilution.................................................... 221,617,697 208,529,156
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Calculation of Limited Partners' interest in Net Income:
Net Income........................................................... $ 493,770 $ 445,447
Less: General Partner's interest in Net Income...................... (259,684) (228,980)
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Limited Partners' interest in Net Income............................. $ 234,086 $ 216,467
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Limited Partners' Net Income per unit:
Basic................................................................ $ 1.06 $ 1.04
Diluted.............................................................. $ 1.06 $ 1.04