KMI: 2020 Guidance - Published Budget
Stable Foundation of Cash Flows through Commodity Cycles
5-year change in Adjusted EBITDA
$ billions
KINDER MORGAN
$7.4
$(0.6)
$(0.5)
Helped to fund
$8.3 billion
Adjusted Net
Debt reduction (b)
$0.2
$(0.3)
$(0.1)
$1.7
$7.8
2014 Adjusted EBITDA
2014-2017
CO2 Segment
(~$30/bbl oil price decline)
Asset Divestitures
(SNG, TMPL, Terminals,
Parkway, Express)
2014-2017
Midstream Segment
(lower volumes and prices)
2015-2016
Coal Market Headwinds (a)
(Terminals)
Other
EBITDA from
Expansion Projects
2019B Adjusted EBITDA
Consistently generated over $7 billion of Adjusted EBITDA each year through multiple market disruptions
and significant strategic efforts, including asset sales and deleveraging
Note: See Non-GAAP Financial Measures and Reconciliations. Reconciliation for 2014 Adjusted EBITDA provided in 2015 Analyst Day slide deck available on Kinder Morgan website. EBITDA from expansion projects includes Natural
Gas, Products, and Terminals segments.
a) Headwinds during 2015 and 2016 in coal market led to bankruptcy filings of three of our largest customers and the cancellation of a contract.
b) Change in consolidated Adjusted Net Debt from 9/30/2015 through 12/31/2018.
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