v2.4.0.8
Guarantee of Securities of Subsidiaries (Tables)
 3 Months Ended
Mar. 31, 2014
Guarantees [Abstract]  
Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheet as of March 31, 2014
(In Millions)
(Unaudited)
 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
56

 
$
—

 
$
457

 
$
—

 
$
513

All other current assets
642

 
3

 
2,826

 
(322
)
 
3,149

Property, plant and equipment, net
25

 
—

 
36,927

 
—

 
36,952

Investments
—

 
—

 
5,962

 
—

 
5,962

Investments in affiliates
20,437

 
6,151

 
—

 
(26,588
)
 
—

Goodwill
—

 
8,062

 
16,501

 
—

 
24,563

Notes receivable from affiliates
—

 
—

 
1,993

 
(1,993
)
 
—

Other non-current assets
208

 
844

 
4,679

 
(816
)
 
4,915

Total assets
$
21,368

 
$
15,060

 
$
69,345

 
$
(29,719
)
 
$
76,054

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Current portion of debt
$
660

 
$
317

 
$
1,435

 
$
—

 
$
2,412

All other current liabilities
247

 
124

 
3,607

 
(322
)
 
3,656

Long-term debt
3,117

 
3,987

 
27,695

 
—

 
34,799

Notes payable to affiliates
1,993

 
—

 
—

 
(1,993
)
 
—

Deferred income taxes
2,295

 
—

 
3,120

 
(816
)
 
4,599

Other long-term liabilities and deferred credits
256

 
71

 
1,827

 
—

 
2,154

     Total liabilities
8,568

 
4,499

 
37,684

 
(3,131
)
 
47,620

 
 
 
 
 
 
 
 
 
 
Stockholders’ equity
 
 
 
 
 
 
 
 
 
Total KMI equity
12,800

 
10,561

 
15,603

 
(26,164
)
 
12,800

Noncontrolling interests
—

 
—

 
16,058

 
(424
)
 
15,634

     Total stockholders’ equity
12,800

 
10,561

 
31,661

 
(26,588
)
 
28,434

Total liabilities and stockholders’ equity
$
21,368

 
$
15,060

 
$
69,345

 
$
(29,719
)
 
$
76,054




Condensed Consolidating Balance Sheet as of December 31, 2013
(In Millions)

 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
83

 
$
—

 
$
515

 
$
—

 
$
598

All other current assets
945

 
38

 
2,763

 
(476
)
 
3,270

Property, plant and equipment, net
10

 
—

 
35,837

 
—

 
35,847

Investments
—

 
—

 
5,951

 
—

 
5,951

Investments in affiliates
20,336

 
6,651

 
—

 
(26,987
)
 
—

Goodwill
—

 
8,062

 
16,442

 
—

 
24,504

Notes receivable from affiliates
—

 
—

 
1,993

 
(1,993
)
 
—

Other non-current assets
227

 
841

 
4,759

 
(812
)
 
5,015

Total assets
$
21,601

 
$
15,592

 
$
68,260

 
$
(30,268
)
 
$
75,185

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Current portion of debt
$
175

 
$
400

 
$
1,731

 
$
—

 
$
2,306

All other current liabilities
228

 
135

 
3,882

 
(476
)
 
3,769

Long-term debt
3,371

 
3,999

 
26,517

 
—

 
33,887

Notes payable to affiliates
1,993

 
—

 
—

 
(1,993
)
 
—

Deferred income taxes
2,426

 
—

 
3,037

 
(812
)
 
4,651

Other long term liabilities and deferred credits
315

 
69

 
1,903

 
—

 
2,287

     Total liabilities
8,508

 
4,603

 
37,070

 
(3,281
)
 
46,900

 
 
 
 
 
 
 
 
 
 
Stockholders’ equity
 
 
 
 
 
 
 
 
 
Total KMI equity
13,093

 
10,989

 
15,596

 
(26,585
)
 
13,093

Noncontrolling interests
—

 
—

 
15,594

 
(402
)
 
15,192

     Total stockholders’ equity
13,093

 
10,989

 
31,190

 
(26,987
)
 
28,285

Total liabilities and stockholders’ equity
$
21,601

 
$
15,592

 
$
68,260

 
$
(30,268
)
 
$
75,185
Schedule of Condensed Income Statement [Table Text Block]
Condensed Consolidating Statement of Income for the Three Months Ended March 31, 2014
(In Millions)
(Unaudited)
 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
Revenues
$
9

 
$
—

 
$
4,048

 
$
(10
)
 
$
4,047

 
 
 
 
 
 
 
 
 
 
Costs, expenses and other
 
 
 
 
 
 
 
 
 
Costs of sales
—

 
—

 
1,643

 
—

 
1,643

     Depreciation, depletion and amortization
—

 
—

 
496

 
—

 
496

     Other operating expenses
8

 
—

 
763

 
(10
)
 
761

Total costs, expenses and other
8

 
—

 
2,902

 
(10
)
 
2,900

 
 
 
 
 
 
 
 
 
 
Operating income
1

 
—

 
1,146

 
—

 
1,147

 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
     Earnings from equity investments
345

 
127

 
99

 
(472
)
 
99

     Interest, net
(73
)
 
(65
)
 
(310
)
 
—

 
(448
)
     Amortization of excess cost of equity investments and other, net
1

 
—

 
2

 
—

 
3

 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
274

 
62

 
937

 
(472
)
 
801

 
 
 
 
 
 
 
 
 
 
Income tax benefit (expense)
13

 
(13
)
 
(200
)
 
—

 
(200
)
 
 
 
 
 
 
 
 
 
 
Net income
287

 
49

 
737

 
(472
)
 
601

 
 
 
 
 
 
 
 
 
 
Net income attributable to noncontrolling interests
—

 
—

 
(331
)
 
17

 
(314
)
 
 
 
 
 
 
 
 
 
 
Net income attributable to controlling interests
$
287

 
$
49

 
$
406

 
$
(455
)
 
$
287










Condensed Consolidating Statement of Income for the Three Months Ended March 31, 2013
(In Millions)
(Unaudited)
 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
Revenues
$
9

 
$
—

 
$
3,058

 
$
(7
)
 
$
3,060

 
 
 
 
 
 
 
 
 
 
Costs, expenses and other
 
 
 
 
 
 
 
 
 
Costs of sales
—

 
—

 
970

 
—

 
970

     Depreciation, depletion and amortization
—

 
—

 
415

 
—

 
415

     Other operating expenses
3

 
(3
)
 
665

 
(7
)
 
658

Total costs, expenses and other
3

 
(3
)
 
2,050

 
(7
)
 
2,043

 
 
 
 
 
 
 
 
 
 
Operating income
6

 
3

 
1,008

 
—

 
1,017

 
 
 
 
 
 
 
 
 
 
Other income (expense)
 
 
 
 
 
 
 
 
 
     Earnings from equity investments
339

 
142

 
101

 
(481
)
 
101

     Interest, net
(65
)
 
(106
)
 
(231
)
 
—

 
(402
)
     Amortization of excess cost of equity investments, gain on sale of investments and other, net
—

 
(1
)
 
222

 
—

 
221

 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
280

 
38

 
1,100

 
(481
)
 
937

 
 
 
 
 
 
 
 
 
 
Income tax benefit (expense)
12

 
—

 
(291
)
 
—

 
(279
)
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
292

 
38

 
809

 
(481
)
 
658

 
 
 
 
 
 
 
 
 
 
Loss from discontinued operations, net of tax
—

 
—

 
(2
)
 
—

 
(2
)
 
 
 
 
 
 
 
 
 
 
Net income
292

 
38

 
807

 
(481
)
 
656

 
 
 
 
 
 
 
 
 
 
Net income attributable to noncontrolling interests
—

 
—

 
(388
)
 
24

 
(364
)
 
 
 
 
 
 
 
 
 
 
Net income attributable to controlling interests
$
292

 
$
38

 
$
419

 
$
(457
)
 
$
292
Condensed consolidating statement of comprehensive income [Table Text Block]
Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended March 31, 2014
(In Millions)
(Unaudited)
 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
Net income
$
287

 
$
49

 
$
737

 
$
(472
)
 
$
601

Other comprehensive loss, net of tax
 
 
 
 
 
 
 
 
 
Change in fair value of derivatives utilized for hedging purposes
(19
)
 
(2
)
 
(44
)
 
20

 
(45
)
Reclassification of change in fair value of derivatives to net income
6

 
—

 
13

 
(5
)
 
14

Foreign currency translation adjustments
(25
)
 
—

 
(60
)
 
23

 
(62
)
Adjustments to pension and other postretirement benefit plan liabilities
—

 
—

 
(2
)
 
1

 
(1
)
Total other comprehensive loss
(38
)
 
(2
)
 
(93
)
 
39

 
(94
)
Comprehensive income
249

 
47

 
644

 
(433
)
 
507

Comprehensive income attributable to noncontrolling interests
—

 
—

 
(258
)
 
—

 
(258
)
Comprehensive income attributable to controlling interests
$
249

 
$
47

 
$
386

 
$
(433
)
 
$
249




Condensed Consolidating Statement of Comprehensive Income for the Three Months Ended March 31, 2013
(In Millions)
(Unaudited)
 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
Net income
$
292

 
$
38

 
$
807

 
$
(481
)
 
$
656

Other comprehensive loss, net of tax
 
 
 
 
 
 
 
 
 
Change in fair value of derivatives utilized for hedging purposes
(16
)
 
1

 
(30
)
 
14

 
(31
)
Reclassification of change in fair value of derivatives to net income
(4
)
 
(1
)
 
(6
)
 
5

 
(6
)
Foreign currency translation adjustments
(17
)
 
—

 
(32
)
 
16

 
(33
)
Adjustments to pension and other postretirement benefit plan liabilities
(1
)
 
(3
)
 
(1
)
 
4

 
(1
)
Total other comprehensive loss
(38
)
 
(3
)
 
(69
)
 
39

 
(71
)
Comprehensive income
254

 
35

 
738

 
(442
)
 
585

Comprehensive income attributable to noncontrolling interests
—

 
—

 
(331
)
 
—

 
(331
)
Comprehensive income attributable to controlling interests
$
254

 
$
35

 
$
407

 
$
(442
)
 
$
254
Schedule of Condensed Cash Flow Statement [Table Text Block]
 Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2014
(In Millions)
(Unaudited)
 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
Net cash provided by (used in) operating activities
$
526

 
$
(88
)
 
$
1,287

 
$
(607
)
 
$
1,118

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
 
 
 
 
Business acquisitions
—

 
—

 
(960
)
 
—

 
(960
)
Acquisitions of other assets and investments
—

 
—

 
(30
)
 
—

 
(30
)
Capital expenditures
(15
)
 
—

 
(830
)
 
—

 
(845
)
Loans to related party
—

 
—

 
(17
)
 
—

 
(17
)
Funding to affiliates
(235
)
 
(1
)
 
(43
)
 
279

 
—

Investments in KMP and EPB
(11
)
 
—

 
—

 
11

 
—

Contributions to investments
—

 
—

 
(36
)
 
—

 
(36
)
Distributions from equity investments in excess of cumulative earnings
10

 
—

 
38

 
(10
)
 
38

Natural gas storage and natural gas and liquids line-fill
—

 
—

 
21

 
—

 
21

Other, net
—

 
—

 
10

 
—

 
10

Net cash (used in) provided by investing activities
(251
)
 
(1
)
 
(1,847
)
 
280

 
(1,819
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
Issuance of debt
643

 
—

 
4,548

 
—

 
5,191

Payment of debt
(408
)
 
(83
)
 
(3,693
)
 
—

 
(4,184
)
Funding from affiliates
39

 
172

 
68

 
(279
)
 
—

Debt issuance costs
(2
)
 
—

 
(10
)
 
—

 
(12
)
Cash dividends
(425
)
 
—

 
—

 
—

 
(425
)
Repurchases of shares and warrants
(149
)
 
—

 
—

 
—

 
(149
)
Distributions to parent
—

 
—

 
(610
)
 
610

 
—

Contributions from noncontrolling interests
—

 
—

 
688

 
(4
)
 
684

Distributions to noncontrolling interests
—

 
—

 
(479
)
 
—

 
(479
)
Net cash (used in) provided by financing activities
(302
)
 
89

 
512

 
327

 
626

 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
(10
)
 
—

 
(10
)
 
 
 
 
 
 
 
 
 
 
Net decrease in cash and cash equivalents
(27
)
 
—

 
(58
)
 
—

 
(85
)
Cash and cash equivalents, beginning of period
83

 
—

 
515

 
—

 
598

Cash and cash equivalents, end of period
$
56

 
$
—

 
$
457

 
$
—

 
$
513

Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2013
(In Millions)
(Unaudited)
 
Parent Guarantor
 
Subsidiary Issuers
 
Non-guarantor Subsidiaries
 
Eliminations
 
Consolidated KMI
Net cash provided by operating activities
$
335

 
$
21

 
$
943

 
$
(532
)
 
$
767

 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
 
 
 
 
Acquisitions of assets and investments
—

 
—

 
(4
)
 
—

 
(4
)
Capital expenditures
(11
)
 
—

 
(587
)
 
—

 
(598
)
Proceeds from sale of investments
—

 
—

 
491

 
—

 
491

Repayment from related party
—

 
—

 
10

 
—

 
10

Funding to affiliates
(65
)
 
(181
)
 
(167
)
 
413

 
—

Drop down assets to KMP
988

 
—

 
(988
)
 
—

 
—

Investments in KMP and EPB
(7
)
 
(1
)
 
—

 
8

 
—

Contributions to investments
(6
)
 
—

 
(40
)
 
6

 
(40
)
Distributions from equity investments in excess of cumulative earnings
—

 
—

 
37

 
—

 
37

Natural gas storage and natural gas and liquids line-fill
—

 
—

 
10

 
—

 
10

Other, net
—

 
—

 
(22
)
 
—

 
(22
)
Net cash provided by (used in) investing activities
899

 
(182
)
 
(1,260
)
 
427

 
(116
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
Issuance of debt
520

 
—

 
2,699

 
—

 
3,219

Payment of debt
(1,230
)
 
(50
)
 
(1,811
)
 
—

 
(3,091
)
Funding from affiliates
55

 
166

 
192

 
(413
)
 
—

Debt issuance costs
—

 
—

 
(7
)
 
—

 
(7
)
Cash dividends
(384
)
 
—

 
—

 
—

 
(384
)
Repurchases of warrants
(80
)
 
—

 
—

 
—

 
(80
)
Distributions to parent
—

 
—

 
(530
)
 
530

 
—

Contributions from noncontrolling interests
—

 
—

 
471

 
(6
)
 
465

Distributions to noncontrolling interests
—

 
—

 
(375
)
 
—

 
(375
)
Other, net
—

 
—

 
6

 
(6
)
 
—

Net cash (used in) provided by financing activities
(1,119
)
 
116

 
645

 
105

 
(253
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
(6
)
 
—

 
(6
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
115

 
(45
)
 
322

 
—

 
392

Cash and cash equivalents, beginning of period
3

 
45

 
666

 
—

 
714

Cash and cash equivalents, end of period
$
118

 
$
—

 
$
988

 
$
—

 
$
1,106