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Debt (Tables) | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments [Table Text Block] | The following table provides detail on the principal amount of our outstanding debt balances. The table amounts exclude all debt fair value adjustments, including debt discounts, premiums and issuance costs (in millions):
| December 31,
| 2018 |  | 2017
Credit facility and commercial paper borrowings(a) | $ | 433 |  |  | $ | 365 |
Corporate senior notes(b) |  |  |
6.00%, due January 2018 | — |  |  | 750 |
7.00%, due February 2018 | — |  |  | 82 |
5.95%, due February 2018 | — |  |  | 975 |
7.25%, due June 2018 | — |  |  | 477 |
9.00%, due February 2019 | 500 |  |  | 500 |
2.65%, due February 2019 | 800 |  |  | 800 |
3.05%, due December 2019 | 1,500 |  |  | 1,500 |
6.85%, due February 2020 | 700 |  |  | 700 |
6.50%, due April 2020 | 535 |  |  | 535 |
5.30%, due September 2020 | 600 |  |  | 600 |
6.50%, due September 2020 | 349 |  |  | 349 |
5.00%, due February 2021 | 750 |  |  | 750 |
3.50%, due March 2021 | 750 |  |  | 750 |
5.80%, due March 2021 | 400 |  |  | 400 |
5.00%, due October 2021 | 500 |  |  | 500 |
4.15%, due March 2022 | 375 |  |  | 375 |
1.50%, due March 2022(c) | 860 |  |  | 900 |
3.95%, due September 2022 | 1,000 |  |  | 1,000 |
3.15%, due January 2023 | 1,000 |  |  | 1,000 |
Floating rate, due January 2023 | 250 |  |  | 250 |
3.45%, due February 2023 | 625 |  |  | 625 |
3.50%, due September 2023 | 600 |  |  | 600 |
5.625%, due November 2023 | 750 |  |  | 750 |
4.15%, due February 2024 | 650 |  |  | 650 |
4.30%, due May 2024 | 600 |  |  | 600 |
4.25%, due September 2024 | 650 |  |  | 650 |
4.30%, due June 2025 | 1,500 |  |  | 1,500 |
6.70%, due February 2027 | 7 |  |  | 7 |
2.25%, due March 2027(c) | 573 |  |  | 600 |
6.67%, due November 2027 | 7 |  |  | 7 |
4.30%, due March 2028 | 1,250 |  |  | — |
7.25%, due March 2028 | 32 |  |  | 32 |
6.95%, due June 2028 | 31 |  |  | 31 |
8.05%, due October 2030 | 234 |  |  | 234 |
7.40%, due March 2031 | 300 |  |  | 300 |
7.80%, due August 2031 | 537 |  |  | 537 |
7.75%, due January 2032 | 1,005 |  |  | 1,005 |
7.75%, due March 2032 | 300 |  |  | 300 |
7.30%, due August 2033 | 500 |  |  | 500 |
5.30%, due December 2034 | 750 |  |  | 750 |
5.80%, due March 2035 | 500 |  |  | 500 |
7.75%, due October 2035 | 1 |  |  | 1 |
6.40%, due January 2036 | 36 |  |  | 36 |
6.50%, due February 2037 | 400 |  |  | 400 |
7.42%, due February 2037 | 47 |  |  | 47 |
6.95%, due January 2038 | 1,175 |  |  | 1,175 |
6.50%, due September 2039 | 600 |  |  | 600 |
6.55%, due September 2040 | 400 |  |  | 400 |
7.50%, due November 2040 | 375 |  |  | 375 |
6.375%, due March 2041 | 600 |  |  | 600 |
| December 31,
| 2018 |  | 2017
5.625%, due September 2041 | 375 |  |  | 375 |
5.00%, due August 2042 | 625 |  |  | 625 |
4.70%, due November 2042 | 475 |  |  | 475 |
5.00%, due March 2043 | 700 |  |  | 700 |
5.50%, due March 2044 | 750 |  |  | 750 |
5.40%, due September 2044 | 550 |  |  | 550 |
5.55%, due June 2045 | 1,750 |  |  | 1,750 |
5.05%, due February 2046 | 800 |  |  | 800 |
5.20%, due March 2048 | 750 |  |  | — |
7.45%, due March 2098 | 26 |  |  | 26 |
TGP senior notes(b) |  |  |
7.00%, due March 2027 | 300 |  |  | 300 |
7.00%, due October 2028 | 400 |  |  | 400 |
8.375%, due June 2032 | 240 |  |  | 240 |
7.625%, due April 2037 | 300 |  |  | 300 |
EPNG senior notes(b) |  |  |
8.625%, due January 2022 | 260 |  |  | 260 |
7.50%, due November 2026 | 200 |  |  | 200 |
8.375%, due June 2032 | 300 |  |  | 300 |
CIG senior notes(b) |  |  |
4.15%, due August 2026 | 375 |  |  | 375 |
6.85%, due June 2037 | 100 |  |  | 100 |
EPC Building, LLC, promissory note, 3.967%, due December 2035 | 409 |  |  | 421 |
Trust I Preferred Securities, 4.75%, due March 2028(d) | 221 |  |  | 221 |
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock, due August 2057(e) | 100 |  |  | 100 |
Other miscellaneous debt(f) | 250 |  |  | 278 |
Total debt – KMI and Subsidiaries | 36,593 |  |  | 36,916 |
Less: Current portion of debt(g) | 3,388 |  |  | 2,828 |
Total long-term debt – KMI and Subsidiaries(h) | $ | 33,205 |  |  | $ | 34,088 |
_______
(a) | See “—Current portion of debt” below for further details regarding the outstanding credit facility and commercial paper borrowings.
(b) | Notes provide for the redemption at any time at a price equal to 100% of the principal amount of the notes plus accrued interest to the redemption date plus a make whole premium and are subject to a number of restrictions and covenants. The most restrictive of these include limitations on the incurrence of liens and limitations on sale-leaseback transactions.
(c) | Consists of senior notes denominated in Euros that have been converted to U.S. dollars and are respectively reported above at the December 31, 2018 exchange rate of 1.1467 U.S. dollars per Euro and at the December 31, 2017 exchange rate of 1.2005 U.S. dollars per Euro. As of December 31, 2018 and 2017, the cumulative changes in the exchange rate of U.S. dollars per Euro since issuance had resulted in increases to our debt balance of $46 million and $86 million, respectively, related to the 1.50% series and increases of $30 million and $57 million, respectively, related to the 2.25% series. The cumulative increase in debt due to the changes in exchange rates is offset by a corresponding change in the value of cross-currency swaps reflected in “Deferred charges and other assets” and “ Other long-term liabilities and deferred credits” on our consolidated balance sheets. At the time of issuance, we entered into cross-currency swap agreements associated with these senior notes, effectively converting these Euro-denominated senior notes to U.S. dollars (see Note 14 “Risk Management—Foreign Currency Risk Management”).
(d) | Capital Trust I (Trust I), is a 100%-owned business trust that as of December 31, 2018, had 4.4 million of 4.75% trust convertible preferred securities outstanding (referred to as the Trust I Preferred Securities). Trust I exists for the sole purpose of issuing preferred securities and investing the proceeds in 4.75% convertible subordinated debentures, which are due 2028. Trust I’s sole source of income is interest earned on these debentures. This interest income is used to pay distributions on the preferred securities. We provide a full and unconditional guarantee of the Trust I Preferred Securities. There are no significant restrictions from these securities on our ability to obtain funds from our subsidiaries by distribution, dividend or loan. The Trust I Preferred Securities are non-voting (except in limited circumstances), pay quarterly distributions at an annual rate of 4.75%, carry a liquidation value of $50 per security plus accrued and unpaid distributions. The Trust I Preferred Securities outstanding as of December 31, 2018 are convertible at any time prior to the close of business on March 31, 2028, at the option of the holder, into the following mixed consideration: (i) 0.7197 of a share of our Class P common stock; and (ii) $25.18 in cash without interest. We have the right to redeem these Trust I Preferred Securities at any time.
(e) | As of December 31, 2018 and 2017, KMGP had outstanding, 100,000 shares of its $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock due 2057. Since August 18, 2012, dividends on the preferred stock accumulate at a floating rate of the 3-month LIBOR plus 3.8975% and are payable quarterly in arrears, when and if declared by KMGP’s board of directors, on February 18, May 18, August 18 and November 18 of each year, beginning November 18, 2012. The preferred stock has approval rights over a commencement of or filing of voluntary bankruptcy by KMP or its SFPP or Calnev subsidiaries.
(f) | Includes capital lease obligations with monthly installments. The lease terms expire between 2024 and 2061.
(g) | Amounts include KMI and KML outstanding credit facility borrowings, commercial paper borrowings and other debt maturing within 12 months. See “—Current Portion of Debt” below.
(h) | Excludes our “Debt fair value adjustments” which, as of December 31, 2018 and 2017, increased our combined debt balances by $731 million and $927 million, respectively. In addition to all unamortized debt discount/premium amounts, debt issuance costs 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 “—Debt Fair Value Adjustments” below.
Schedule of Short-term Debt [Table Text Block] | The following table details the components of our “Current portion of debt” reported on our consolidated balance sheets.
| December 31,
| 2018 |  | 2017
$500 million, 364-day credit facility due November 15, 2019(a) | $ | — |  |  | $ | — |
$4 billion credit facility due November 16, 2023(a) | — |  |  | — |
$5 billion, five-year credit facility due November 26, 2019, -% and 2.99%, respectively(a)(b) | — |  |  | 125 |
Commercial paper notes, 3.10% and 2.02%, respectively(b) | 433 |  |  | 240 |
KML 2018 Credit Facility(c) | — |  |  | — |
Current portion of senior notes |  |  |
6.00%, due January 2018 | — |  |  | 750 |
7.00%, due February 2018 | — |  |  | 82 |
5.95%, due February 2018 | — |  |  | 975 |
7.25%, due June 2018 | — |  |  | 477 |
9.00%, due February 2019 | 500 |  |  | — |
2.65%, due February 2019 | 800 |  |  | — |
3.05%, due December 2019 | 1,500 |  |  | — |
Trust I Preferred Securities, 4.75%, due March 2028 | 111 |  |  | 111 |
Current portion - Other debt | 44 |  |  | 68 |
Total current portion of debt | $ | 3,388 |  |  | $ | 2,828 |
_______
(a) | On November 16, 2018, we replaced our $5 billion, five-year credit facility with two new credit facilities discussed further in “—Credit Facilities and Restrictive Covenants” following.
(b) | Interest rates are weighted average rates at December 31, 2018 and 2017, respectively.
(c) | Borrowings under the KML 2018 Credit Facility are denominated in C$ and are converted to U.S. dollars. The exchange rate was 0.7330 U.S. dollars per C$ at December 31, 2018 and 0.7971 U.S. dollars per C$ at December 31, 2017. See “—Credit Facilities” below.
Schedule of Maturities of Long-term Debt [Table Text Block] | The scheduled maturities of the outstanding debt balances, excluding debt fair value adjustments as of December 31, 2018, are summarized as follows (in millions):
Year |  | Total
2019 |  | $ | 3,388 |
2020 |  | 2,205 |
2021 |  | 2,422 |
2022 |  | 2,518 |
2023 |  | 3,250 |
Thereafter |  | 22,810 |
Total |  | $ | 36,593 |
Debt Fair Value Adjustments [Table Text Block] | The following table summarizes the “Debt fair value adjustments” included on our accompanying consolidated balance sheets (in millions):
|  | December 31,
Debt Fair Value Adjustments |  | 2018 |  | 2017
Purchase accounting debt fair value adjustments |  | $ | 658 |  |  | $ | 719 |
Carrying value adjustment to hedged debt |  | 2 |  |  | 115 |
Unamortized portion of proceeds received from the early termination of interest rate swap agreements |  | 275 |  |  | 297 |
Unamortized debt discounts, net |  | (74 | ) |  | (74 | )
Unamortized debt issuance costs |  | (130 | ) |  | (130 | )
Total debt fair value adjustments |  | $ | 731 |  |  | $ | 927 |

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