$EP-PC

KINDER MORGAN, INC.

CIK:0001506307|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Revenues	$ 4,477	$ 4,042	$ 9,305	$ 8,283
Operating Costs, Expenses, and Other
Costs of sales (exclusive of items shown separately below)	1,405	1,211	3,154	2,687
Operations and maintenance	806	773	1,517	1,484
Depreciation, depletion, and amortization	620	616	1,253	1,226
General and administrative	192	188	376	375
Taxes, other than income taxes	120	111	234	223
Other income, net	(12)	(9)	(19)	(9)
Total Operating Costs, Expenses, and Other	3,131	2,890	6,515	5,986
Operating Income	1,346	1,152	2,790	2,297
Other Income (Expense)
Earnings from equity investments	225	206	479	426
Interest, net	(425)	(452)	(855)	(903)
Other, net	20	13	40	28
Total Other Expense	(180)	(233)	(336)	(449)
Income Before Income Taxes	1,166	919	2,454	1,848
Income Tax Expense	(272)	(177)	(559)	(363)
Net Income	894	742	1,895	1,485
Net Income Attributable to Noncontrolling Interests	(27)	(27)	(52)	(53)
Net Income Attributable to Kinder Morgan, Inc.	$ 867	$ 715	$ 1,843	$ 1,432
Class P Common Stock
Basic Earnings Per Share	$ 0.39	$ 0.32	$ 0.82	$ 0.64
Diluted Earnings Per Share	$ 0.39	$ 0.32	$ 0.82	$ 0.64
Basic Weighted Average Shares Outstanding	2,225	2,222	2,225	2,222
Diluted Weighted Average Shares Outstanding	2,225	2,222	2,225	2,222
Services
Revenues
Revenues	$ 2,456	$ 2,326	$ 4,981	$ 4,686
Commodity sales
Revenues
Revenues	1,978	1,668	4,223	3,504
Other
Revenues
Revenues	$ 43	$ 48	$ 101	$ 93

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net income	$ 1,895	$ 1,485
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, depletion, and amortization	1,253	1,226
Deferred income taxes	576	327
Change in fair value of derivative contracts	13	(11)
Earnings from equity investments	(479)	(426)
Distributions of equity investment earnings	363	397
Changes in components of working capital
Accounts receivable	157	67
Inventories	12	(2)
Other current assets	(34)	14
Accounts payable	(85)	(53)
Accrued interest, net of interest rate swaps	(18)	(18)
Accrued taxes	(40)	(60)
Other current liabilities	2	(30)
Other, net	(164)	(105)
Net Cash Provided by Operating Activities	3,451	2,811
Cash Flows From Investing Activities
Acquisition of assets, net of cash acquired (Note 2)	(503)	(648)
Capital expenditures	(1,786)	(1,413)
Contributions to investments	(142)	(69)
Distributions from equity investments in excess of cumulative earnings	96	92
Other, net	(20)	(1)
Net Cash Used in Investing Activities	(2,355)	(2,039)
Cash Flows From Financing Activities
Issuances of debt	4,026	6,523
Payments of debt	(3,715)	(5,910)
Debt issue costs	(10)	(16)
Dividends	(1,319)	(1,296)
Distributions to noncontrolling interests	(77)	(78)
Other, net	9	(12)
Net Cash Used in Financing Activities	(1,086)	(789)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Deposits	10	(17)
Cash, Cash Equivalents and Restricted Deposits, beginning of period	109	214
Cash, Cash Equivalents and Restricted Deposits, end of period	119	197
Non-cash Investing and Financing Activities
ROU assets and operating lease obligations recognized including adjustments	45	11
Net increase in property, plant, and equipment from both accruals and contractor retainage	242
Supplemental Disclosures of Cash Flow Information
Cash paid during the period for interest (net of capitalized interest)	879	926
Cash (refund) paid during the period for income taxes, net	$ (11)	$ 38

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 89	$ 63
Restricted deposits	30	46
Accounts receivable	1,563	1,714
Inventories	565	574
Other current assets	341	357
Total current assets	2,588	2,754
Property, plant, and equipment, net	40,522	39,331
Investments	7,705	7,532
Goodwill	20,084	20,084
Other intangibles, net	1,872	1,730
Deferred charges and other assets	1,291	1,317
Total Assets	74,062	72,748
Current Liabilities
Current portion of debt	2,443	1,226
Accounts payable	1,567	1,408
Accrued interest	514	534
Accrued taxes	216	256
Other current liabilities	907	898
Total current liabilities	5,647	4,322
Long-term debt
Outstanding	29,701	30,597
Debt fair value adjustments	104	180
Total long-term debt	29,805	30,777
Deferred income taxes	3,439	2,891
Other long-term liabilities and deferred credits	2,292	2,309
Total long-term liabilities and deferred credits	35,536	35,977
Total Liabilities	41,183	40,299
Commitments and contingencies (Notes 3 and 9)
Stockholders’ Equity
Class P Common Stock, $0.01 par value, 4,000,000,000 shares authorized, 2,224,819,927 and 2,224,777,750 shares, respectively, issued and outstanding	22	22
Additional paid-in capital	41,316	41,276
Accumulated deficit	(9,657)	(10,181)
Accumulated other comprehensive (loss)/income	(50)	45
Total Kinder Morgan, Inc.’s stockholders’ equity	31,631	31,162
Noncontrolling interests	1,248	1,287
Total Stockholders’ Equity	32,879	32,449
Total Liabilities and Stockholders’ Equity	$ 74,062	$ 72,748