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Debt | 3 Months Ended
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Mar. 31, 2013
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] | . Debt We classify our debt based on the contractual maturity dates of the underlying debt instruments. We defer costs associated with debt issuance over the applicable term and then amortize these costs as interest expense in our consolidated statements of income. The following table summarizes the carrying value of our outstanding debt, excluding debt fair value adjustments (in millions):
| March 31, 2013 |  | December 31, 2012
Current portion of debt(a) | $ | 2,876 |  |  | $ | 2,401 |
Long-term portion of debt | 29,065 |  |  | 29,409 |
Carrying value of debt(b) | $ | 31,941 |  |  | $ | 31,810 |
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(a) | As of March 31, 2013 and December 31, 2012, balances include (i) KMI’s credit facility borrowings of $1,274 million and $1,035 million, respectively; (ii) KMP’s commercial paper borrowings of $595 million and $621 million, respectively; and (iii) $160 million and $288 million of letter of credit facilities, respectively.
(b) | Excludes debt fair value adjustments. As of March 31, 2013 and December 31, 2012, our “Debt fair value adjustments” increased our debt balances by $2,449 million and $2,591 million, respectively. In addition to all unamortized debt discount/premium amounts and purchase accounting on our debt balances, our debt fair value adjustments also include amounts associated with the offsetting entry for hedged debt and any unamortized portion of proceeds received from the early termination of interest rate swap agreements. For further information about our debt fair value adjustments, see Note 5 “Risk Management-Fair Value of Derivative Contracts.”
Changes in Debt Changes in our and our subsidiaries outstanding debt, excluding debt fair value adjustments, during the three months ended March 31, 2013 are summarized as follows (in millions):
Debt Borrowings |  | Interest rate |  | Increase / (decrease) |  | Cash received / (paid)
Issuances and assumptions |  |  |  |  |  |
KMI |  |  |  |  |  |
KMI credit facility |  | variable |  | $ | 520 |  |  | $ | 520 |
KMP and subsidiaries |  |  |  |  |  |
Senior notes due September 1, 2023(a) |  | 3.50% |  | 600 |  |  | 598 |
Senior notes due March 1, 2043(a) |  | 5.00% |  | 400 |  |  | 398 |
Commercial paper |  | variable |  | 1,689 |  |  | 1,689 |
Kinder Morgan Altamont LLC credit facility due August 2, 2014(b) |  | variable |  | 14 |  |  | 14 |
Total increases in debt |  |  |  | $ | 3,223 |  |  | $ | 3,219 |
Repayments and other |  |  |  |  |  |
KMI |  |  |  |  |  |
Senior secured term loan credit facility, due May 24, 2015 |  | variable |  | $ | (947 | ) |  | $ | (947 | )
KMI credit facility |  | variable |  | (281 | ) |  | (281 | )
EPC Building LLC promissory note 3.967%, due 2035 |  | 3.967% |  | (1 | ) |  | (1 | )
El Paso LLC credit facility |  | variable |  | (50 | ) |  | (50 | )
EP preferred securities, due March 31, 2028 |  | 4.75% |  | (3 | ) |  | (2 | )
KMP and subsidiaries |  |  |  |  |  |
Commercial paper |  | variable |  | (1,715 | ) |  | (1,715 | )
Kinder Morgan Altamont LLC credit facility due August 2, 2014(b) |  | variable |  | (92 | ) |  | (92 | )
Kinder Morgan Texas Pipeline, L.P. - senior notes due January 2, 2014 |  | 5.23% |  | (2 | ) |  | (2 | )
EPB and subsidiaries |  |  |  |  |  |
Other |  | various |  | (1 | ) |  | (1 | )
Total decreases in debt |  |  |  | $ | (3,092 | ) |  | $ | (3,091 | )
________
(a) | On February 28, 2013, KMP completed a public offering of two separate series of senior notes. KMP received proceeds, after deducting the underwriting discount, of $991 million, and used the proceeds to pay a portion of the purchase price for its drop-down transaction and to reduce the borrowings under its commercial paper program.
(b) | KMP’s subsidiary, Kinder Morgan Altamont LLC maintains an unsecured revolving bank credit facility that matures on August 2, 2014. Effective March 31, 2013, Kinder Morgan Altamont LLC reduced the amount available for borrowing under this credit facility from $95 million to approximately $1 million. In addition, in February 2013, prior to KMP’s March 1, 2013 acquisition date, KMP and KMI each contributed $45 million to repay the outstanding $90 million borrowings under this credit facility, and following this repayment, Kinder Morgan Altamont LLC had no outstanding debt.
Credit Facilities KMI As of March 31, 2013, the amount available for borrowing under KMI’s $1.75 billion senior secured credit facility was reduced by a combined amount of $1,351 million consisting of (i) $1,274 million in borrowings outstanding under its credit facility and (ii) $77 million in fifteen letters of credit primarily consisting of letters of credit that are required under provisions of our property and casualty, workers’ compensation and general liability insurance policies. KMP As of March 31, 2013, KMP had approximately $1,395 million of borrowing capacity available under its $2.2 billion credit facility. The amount available for borrowing under KMP’s credit facility was reduced by a combined amount of $805 million, consisting of $595 million of commercial paper borrowings and $210 million of letters of credit, consisting of (i) a $100 million letter of credit that supports certain proceedings with the California Public Utilities Commission involving refined products tariff charges on the intrastate common carrier operations of KMP’s Pacific operations’ pipelines in the state of California; (ii) a combined $85 million in three letters of credit that support tax-exempt bonds; and (iii) a combined $25 million in other letters of credit supporting other obligations of KMP and its subsidiaries. Subsequent Event On May 1, 2013, KMP entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) among KMP, as Borrower; Kinder Morgan Operating L.P. “B”, as the Subsidiary Borrower; a diverse syndicate of banks; and Wells Fargo Bank, National Association, as Administrative Agent. The Credit Agreement provides for a $2.7 billion unsecured revolving credit facility, which will expire on May 1, 2018, and replaces KMP’s $2.2 billion unsecured revolving credit facility that was scheduled to mature on July 1, 2016. The Credit Agreement includes financial covenants and events of default that are common in such agreements and are substantially unchanged as compared to those under KMP’s previous credit facility. The credit facility can be used as a backup for KMP’s short-term commercial paper program and for general partnership purposes. EPB As of March 31, 2013, EPB had no outstanding balance under its revolving credit facility and $10 million in outstanding letters of credit. EPB availability under this facility as of March 31, 2013 was approximately $1.0 billion. Kinder Morgan G.P., Inc. Preferred Shares On February 19, 2013, Kinder Morgan G.P., Inc. paid a quarterly cash distribution on its Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock of $10.638 per share to shareholders of record as of January 31, 2013. On April 17, 2013, Kinder Morgan G.P., Inc.’s board of directors declared a quarterly cash distribution on its Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock of $10.469 per share payable on May 20, 2013 to shareholders of record as of April 29, 2013.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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