Energy Transitions and Financial Measures
Net Income & DCF
$ in millions
2023
2022
Change
Budget
Actual
%
Net income attributable to Kinder Morgan, Inc.
Certain Items
Fair value amortization
Legal, environmental and other reserves
Change in fair value of derivative contracts
Income tax Certain Items
Other
$ 2,525 $ 2,548 $
(23)
(1%)
(12)
(15)
51
57
(37)
32
Total Certain Items
(12)
88
(100)
NM
DD&A
2,197
2,186
11
1%
Amortization of excess cost of equity investments
67
75
75
(8)
(11%)
(b)
Income tax expense (a)
Cash taxes
Sustaining capital expenditures
Amounts from joint ventures
Unconsolidated JV DD&A
Remove consolidated JV partners' DD&A
Unconsolidated JV income tax expense (b,c)
Unconsolidated JV cash taxes
Unconsolidated JV sustaining capital expenditures
Remove consolidated JV partners' sustaining capital expenditures
Other items (d)
DCF
724
747
(23)
(3%)
(15)
(13)
(2)
(15%)
(857)
(761)
(96)
(13%)
323
323
(62)
(50)
(12)
(24%)
84
75
9
12%
(81)
(70)
(11)
(16%)
(154)
(148)
(6)
(4%)
9
8
1
13%
81
(38)
119
NM
$
4,829 $ 4,970 $ (141)
(3%)
Weighted average shares outstanding for dividends (e)
2,263
2,271
(8)
(0%)
Basic and diluted earnings per share
Adjusted EPS
DCF per share
Expected/Declared dividend per share
SSSSA
$ 1.11
SASASA
1.12 $ 1.12 $
$ 1.16
$ (0.05)
(4%)
$ 2.13 $ 2.19 $ (0.06)
$
1.13 $ 1.11 $ 0.02
(3%)
2%
KINDER MORGAN
a) To avoid duplication, 2022 adjustments for income tax expense exclude $(37) million, which amount is already included within "Certain Items." See table captioned "Certain Items" on slide 53.
b) Associated with our Citrus, NGPL and Products (SE) Pipe Line equity investments.
c) Includes the tax provision on Certain Items recognized by the investees that are taxable entities associated with our Citrus, NGPL and Products (SE) Pipe Line equity investments. The impact of KMI's income tax provision on Certain
Items affecting earnings from equity investments is included within "Certain Items" above.
d) Includes non-cash pension expense, non-cash compensation associated with our restricted stock program and pension contributions.
e) Includes 16 million and 13 million average unvested restricted shares that participate in dividends in 2023 and 2022, respectively.
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