| Stockholders' Equity Note Disclosure [Text Block] |
Stockholders’ Equity Common Equity As of March 31, 2013, our common equity consisted of our Class P common stock. On December 26, 2012, our remaining series of Class A, Class B and Class C shares were fully converted, and as a result only our Class P common stock was outstanding as of December 31, 2012. Our Class P common stock is sometimes referred to herein as our “common stock,” and our Class A, Class B and Class C common stock is sometimes collectively referred to herein as our “investor retained stock.” For accounting purposes, our Class P shares are and our Class A shares, prior to the full conversion of the investor retained stock, were considered common stock, and prior to the full conversion of the investor retained stock, our Class B and Class C shares, were considered participating securities. For additional information regarding our common stock and our investor retained stock, see Note 10 “Stockholders’ Equity” to our consolidated financial statements included in our 2012 Form 10-K.
The following tables sets forth the changes in our outstanding shares during the three months ended March 31, 2013 and 2012. | | | | | | | | | | | | | | Class P | | Class A | | Class B | | Class C | Balance at December 31, 2011 | 170,921,140 |
| | 535,972,387 |
| | 94,132,596 |
| | 2,318,258 |
| Restricted shares vested | 1,465 |
| | — |
| | — |
| | — |
| Balance at March 31, 2012 | 170,922,605 |
| | 535,972,387 |
| | 94,132,596 |
| | 2,318,258 |
|
| | | | | Class P | Balance at December 31, 2012 | 1,035,668,596 |
| Shares issued with conversions of EP Trust I Preferred securities | 55,319 |
| Restricted shares vested | 7,905 |
| Balance at March 31, 2013 | 1,035,731,820 |
|
Dividends Holders of our common stock share equally in any dividend declared by our board of directors, subject to the rights of the holders of any outstanding preferred stock. The following table provides information about our per share dividends. | | | | | | | | | | Three Months Ended | | March 31, | | 2013 | | 2012 | Per common share cash dividend declared | $ | 0.38 |
| | $ | 0.32 |
| Per common share cash dividend paid(a) | $ | 0.37 |
| | $ | 0.31 |
|
_______ | | (a) | Dividends for the fourth quarter of each year are declared and paid during the first quarter of the following year. |
Dividends Subsequent to March 31, 2013
On April 17, 2013, our board of directors declared a cash dividend of $0.38 per share for the quarterly period ended March 31, 2013, which is payable on May 16, 2013 to shareholders of record as of April 29, 2013.
Warrants
The table below sets forth the changes in our outstanding warrants during the three months ended March 31, 2013. No warrants were outstanding during the three months ended March 31, 2012. | | | | | Warrants | Balance at December 31, 2012 | 439,847,329 |
| Warrants issued with conversions of EP Trust I Preferred securities(a) | 84,556 |
| Warrants repurchased(b) | (16,969,361 | ) | Balance at March 31, 2013 | 422,962,524 |
|
_______ | | (b) | Approximately $80 million was paid to repurchase these warrants as part of our $250 million repurchase program. |
Each of our warrants entitles the holder to purchase one share of our common stock for an exercise price of $40 per share, payable in cash or by cashless exercise, at any time until May 25, 2017. For additional information regarding our warrants, see Note 10 “Stockholders’ Equity” to our consolidated financial statements included in our 2012 Form 10-K and Part II, Item 2. “Unregistered Sales of Equity Securities and Use of Proceeds” included elsewhere in this report.
Changes in Equity For each of the three months ended March 31, 2013 and 2012, changes in the carrying amounts of our Stockholders’ Equity attributable to both us and our noncontrolling interests, including our comprehensive loss, are summarized as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2013 | | Common Shares | | Additional paid-in capital | | Retained deficit | | Accumulated other comprehensive loss | | Stockholders’ equity attributable to KMI | | Noncontrolling interests | | Total | Beginning Balance at December 31, 2012 | $ | 10 |
| | $ | 14,917 |
| | $ | (943 | ) | | $ | (119 | ) | | $ | 13,865 |
| | $ | 10,234 |
| | $ | 24,099 |
| Warrants repurchased | | | (80 | ) | | | | | | (80 | ) | | | | (80 | ) | Conversion of preferred securities | | | 1 |
| | | | | | 1 |
| | | | 1 |
| Amortization of restricted shares | | | 5 |
| | | | | | 5 |
| | | | 5 |
| Impact from equity transactions of KMP and EPB | | | 14 |
| | | | | | 14 |
| | (22 | ) | | (8 | ) | Net income (loss) | | | | | 292 |
| | | | 292 |
| | 364 |
| | 656 |
| Distributions | | | | | | | | | — |
| | (375 | ) | | (375 | ) | Contributions | | | | | | | | | — |
| | 465 |
| | 465 |
| Cash dividends | | | | | (384 | ) | | | | (384 | ) | | | | (384 | ) | Other | | | | | | | | | — |
| | | | — |
| Other comprehensive loss | | | | | | | (38 | ) | | (38 | ) | | (33 | ) | | (71 | ) | Ending Balance at March 31, 2013 | $ | 10 |
| | $ | 14,857 |
| | $ | (1,035 | ) | | $ | (157 | ) | | $ | 13,675 |
| | $ | 10,633 |
| | $ | 24,308 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2012 | | Common Shares | | Additional paid-in capital | | Retained deficit | | Accumulated other comprehensive loss | | Stockholders’ equity attributable to KMI | | Noncontrolling interests | | Total | Beginning Balance at December 31, 2011 | $ | 8 |
| | $ | 3,431 |
| | $ | (3 | ) | | $ | (115 | ) | | $ | 3,321 |
| | $ | 5,247 |
| | $ | 8,568 |
| Amortization of restricted shares | |
| | 3 |
| | |
| | |
| | 3 |
| | |
| | 3 |
| Impact from equity transactions of KMP | |
| | 4 |
| | |
| | |
| | 4 |
| | (7 | ) | | (3 | ) | Net income (loss) | |
| | |
| | 21 |
| | |
| | 21 |
| | (94 | ) | | (73 | ) | Distributions | |
| | |
| | |
| | |
| | — |
| | (251 | ) | | (251 | ) | Contributions | |
| | |
| | |
| | |
| | — |
| | 132 |
| | 132 |
| Cash dividends | |
| | |
| | (220 | ) | | |
| | (220 | ) | | |
| | (220 | ) | Other comprehensive loss | |
| | |
| | |
| | (13 | ) | | (13 | ) | | (21 | ) | | (34 | ) | Ending Balance at March 31, 2012 | $ | 8 |
| | $ | 3,438 |
| | $ | (202 | ) | | $ | (128 | ) | | $ | 3,116 |
| | $ | 5,006 |
| | $ | 8,122 |
|
Noncontrolling Interests The caption “Noncontrolling interests” in our accompanying consolidated balance sheets consists of interests that we do not own in the following subsidiaries (in millions): | | | | | | | | | | March 31,
2013 | | December 31,
2012 | KMP | $ | 3,537 |
| | $ | 3,270 |
| EPB | 4,131 |
| | 4,111 |
| KMR | 2,769 |
| | 2,716 |
| Other | 196 |
| | 137 |
| | $ | 10,633 |
| | $ | 10,234 |
|
Contributions The table below shows significant issuances of common units, the net proceeds from the issuances and the ultimate use of the proceeds during the three months ended March 31, 2013 for KMP and EPB (dollars in millions and shares in thousands).
| | | | | | | | | | | | | Issuance date | | Common units/shares | | Net proceeds | | Use of proceeds | | | | (in thousands) | | (in millions) | | | KMP | | | | | | | | | February 2013 | | 4,600 |
| | $ | 385 |
| | Issued to pay a portion of the purchase price for the drop-down transaction | EPB | | | | | | | | | First quarter 2013 (a) | | 525.9 |
| | $ | 21 |
| (b) | General partnership purposes |
___________ | | (a) | On March 7, 2013, EPB entered into an Equity Distribution Agreement (EDA) with Citigroup. Pursuant to the provisions of the EDA, EPB may sell from time to time through Citigroup, as its sales agent, common units (Units) representing limited partner interests having an aggregate offering price of up to $500 million. Sales of the Units will be made by means of ordinary brokers’ transactions on the NYSE at market prices, in block transactions or as otherwise agreed between EPB and Citigroup. Under the terms of the EDA, EPB may also sell Units to Citigroup as principal for Citigroup’s own account at a price agreed upon at the time of the sale. Any sale of the Units to Citigroup as principal would be pursuant to the terms of a separate agreement between EPB and Citigroup. The EDA provides EPB with the right, but not the obligation to sell Units in the future, at prices it deems appropriate. EPB retains at all times complete control over the amount and the timing of each sale, and it will designate the maximum number of Units to be sold through Citigroup, on a daily basis or otherwise as EPB and Citigroup agree. |
| | (b) | Represents proceeds received from noncontrolling interests and excludes our $1 million contribution as the owner of EPB’s general partner. |
The above equity issuances by KMP and EPB during the three months ended March 31, 2013 had the associated effects of increasing our (i) noncontrolling interests by $384 million; (ii) accumulated deferred income taxes by $8 million; and (iii) additional paid-in capital by $14 million.
Distributions
The following table provides information about distributions from our noncontrolling interests (in millions except per unit distribution amounts): | | | | | | | | | | Three Months Ended | | March 31, | | 2013 | | 2012 | KMP | | | | Per unit cash distribution declared | $ | 1.30 |
| | $ | 1.20 |
| Per unit cash distribution paid(a) | $ | 1.29 |
| | $ | 1.16 |
| Cash distributions paid to the public | $ | 299 |
| | $ | 251 |
| EPB(b) | | | | Per unit cash distribution declared | $ | 0.62 |
| | n/a | Per unit cash distribution paid(a) | $ | 0.61 |
| | n/a | Cash distributions paid to the public | $ | 76 |
| | n/a | KMR(c) | | | | Share distributions paid | 1,804,596 |
| | 1,464,145 |
|
___________ | | (a) | Distributions for the fourth quarter of each year are declared and paid during the first quarter of the following year. |
| | (b) | Represents distribution information since the May 2012 EP acquisition. |
| | (c) | KMR’s distributions are paid in the form of additional shares or fractions thereof calculated by dividing the KMP cash distribution per common unit by the average of the market closing prices of a KMR share determined for a ten-trading day period ending on the trading day immediately prior to the ex-dividend date for the shares. On April 17, 2013, KMR declared a share distribution of 0.014770 shares per outstanding share (1,726,952 total shares) payable on May 15, 2013 to shareholders of record as of April 29, 2013, based on the $1.30 per common unit distribution declared by KMP. |
Distributions Subsequent to March 31, 2013 On April 17, 2013, KMP declared a cash distribution of $1.30 per unit for the quarterly period ended March 31, 2013. The distribution will be paid on May 15, 2013 to KMP’s unitholders of record as of April 29, 2013. On April 17, 2013, EPB declared distributions of $0.62 per share for the quarterly period ended March 31, 2013. The distribution will be paid on May 15, 2013 to EPB’s unitholders of record as of April 29, 2013. |