Kinder Morgan, Inc. · NYSE:KMI
Kinder Morgan — Kinder Morgan 2012 Analyst Conference
8 slides from Kinder Morgan's conference presentation, Jan 25, 2012
Slide 1: Appendix
KINDER/MORGAN Appendix
Slide 2: KMP Current Cost of Capital Calculation
KMP Current Cost of Capital Calculation Annualized Indicated LP Current KMP Distribution Unit Price Equity Current KMP Yield $4.64 ÷ $84.95 5.5% GP Gross-up ÷ 55% Cost of Equity = 9.9% Equity % of Capital Structure x 50% Equity Component of Cost of Capital = 4.9% Interest % of Overall Rate Debt Debt
Slide 3: Explanation of Return Calculations
Explanation of Return Calculations Formula Notes Segment Segment Distributable Cash Flow Return on Investment = before Certain Items (a) Average Total Investment (c) KMP KMP Distributable Cash Flow Return on Investment = before Certain Items (b) Average Total Investment (c) Distributable Cash Flow R
Slide 4: Explanation of Return Calculations – Cont'd
Explanation of Return Calculations – Cont’d Formula Notes Gross PP&E Investments (a) Calculation of Goodwill Total Investment: Gross intangibles (excluding amortization) Plus: Asset write-offs / retirements Cumulative environmental reserves Legal reserves / expenditures (b) Cumulative cash spent on
Slide 5: KMP CO2 Asset Summary
KMP CO2 Asset Summary KMP Remaining CO2 Reserves Interest Location Deliverability Operator McElmo Dome 45% SW Colorado 18+ years KMP Doe Canyon 87% SW Colorado 18+ years KMP Bravo Dome 11% NE New Mexico 9+ years Oxy KMP Capacity Pipelines Interest Location (MMcf/d) Operator McElmo Dome to Cortez 50%
Slide 6: KMP GAAP Reconciliation
KMP GAAP Reconciliation 2011 2012B 2011 2012B KMP Consolidated DCF Excluding Certain Items (a) Total Distributions Net income per GAAP income statement $ 1,258 $ 2,156 LP distributions per GAAP cash flow statement $ 1,054 Certain items (net of minority interest) 484 (8) Difference due to KMR and tim
Slide 7: KMI GAAP Reconciliation
KMI GAAP Reconciliation 2011 2012B 2011 2012B Cash Available to Pay Dividends Distributions Received Less G&A Income from continuing operations $ 652 $ 1,366 Cash available to pay dividends (above) $ 866 $ 985 DD&A 1,092 1,166 Cash taxes 368 437 Amortization of excess cost of investments 7 7 Interes
Slide 8: Investor Relations Contacts
Investor Relations Contacts Institutional Investors / Sell-side Analysts David Kinder VP, Corporate Development & Treasurer (713) 369-9469 david_kinder@kindermorgan.com Peter Staples Director, Investor Relations (713) 369-9221 peter_staples@kindermorgan.com Retail Investors / Brokers Mindy Thornock
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