Kinder Morgan, Inc. · NYSE:KMI
Kinder Morgan — Kinder Morgan Energy Partners — 2010 KMP Analyst Conference
8 slides from Kinder Morgan's conference presentation, Jan 28, 2010
Slide 1: Appendix
ENERGY PARTNERS, L.P. Appendix
Slide 2: Quarterly Earnings Profile
ENERGY PARTNERS, L.P. Quarterly Earnings Profile Q1 Q2 Q3 Q4 Year KMP Earnings (a) 2010E 28% 19% 21% 32% $1.45 2009 16% 24% 29% 31% $1.38 2008 31% 31% 26% 12% $2.07 2007 20% 25% 25% 30% $1.74 2006 27% 25% 20% 28% $1.98 2005 28% 22% 25% 25% $2.37 2004 23% 23% 27% 27% $2.22 2003 25% 24% 25% 26% $1.98
Slide 3: Cost of Capital Calculation
ENERGY PARTNERS, L.P. Cost of Capital Calculation LP Current KMP Equity Distribution Unit Price Current KMP Yield $4.40 $63.45 6.9% GP Gross-up 55% Cost of Equity = 12.6% Equity % of Capital Structure x 50% Equity Component of Cost of Capital = 6.3% % of Interest Overall Rate Debt Debt Short-ter
Slide 4: Explanation of Return Calculations
ENERGY PARTNERS, L.P. 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) Dis
Slide 5: Explanation of Return Calculations – Cont'd
ENERGY PARTNERS, L.P. Explanation of Return Calculations – Cont’d Formula Notes Gross PP&E Investments (a) Calculation of Goodwill Total Investment: Intangibles Plus: Asset Write-offs / Retirements Cumulative Environmental Reserves Legal Reserves / Expenditures (b) Minus: Cumulative Sustaining Capex
Slide 6: CO2 Assets
ENERGY PARTNERS, L.P. CO2 Assets Company Remaining CO2 Reserves Ownership Location Deliverability Operator McElmo Dome 45% SW Colorado 20+ yrs KMP Doe Canyon 88% SW Colorado 20+ yrs KMP Utah Bravo Dome 11% NE New Mexico 10+ yrs Oxy Colorado Company Capacity Doe Canyon Kansas Pipelines Ownership Loca
Slide 7: GAAP Reconciliation
ENERGY PARTNERS, L.P. GAAP Reconciliation Detailed calculations reconciling the non-GAAP terms in this presentation to GAAP are available on our website at: http://www.kindermorgan.com/investor/presentations/ 7
Slide 8: Investor Relations Contacts
ENERGY PARTNERS, L.P. Investor Relations Contacts Phone E-mail Institutional Investors / Sell-side Analysts David Kinder VP, Corporate Development & Treasurer (713) 369-9469 david_kinder@kindermorgan.com Peter Staples Treasury & Investor Relations Manager (713) 369-9221 peter_staples@kindermorgan.co
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