Summary
Kinder Morgan, Inc. (KMI) in its 2013 10-K filing presents a robust energy infrastructure company, demonstrating significant growth and strategic asset development. The company operates an extensive network of approximately 80,000 miles of pipelines and 180 terminals across North America, transporting natural gas, refined petroleum products, and crude oil, among other products. KMI's strategy centers on stable, fee-based transportation and storage assets, with a strong focus on expanding utilization, controlling costs, and operating safely and efficiently. The filing highlights substantial "drop-down" transactions from the parent company to its Master Limited Partnerships (MLPs), Kinder Morgan Energy Partners, L.P. (KMP) and El Paso Pipeline Partners, L.P. (EPB), indicating a strategy to optimize asset utilization and financial structure. Significant acquisitions, such as KMP's acquisition of Copano for approximately $5.2 billion, are detailed, expanding KMP's reach in the natural gas midstream sector. The company also outlines significant capital expenditure programs for 2014, signaling continued investment in growth and infrastructure development across its various segments.
Financial Highlights
56 data points| Revenue | $14.07B |
| Cost of Revenue | $5.25B |
| Gross Profit | $8.82B |
| Operating Expenses | $10.08B |
| Operating Income | $3.99B |
| Interest Expense | $1.69B |
| Net Income | $1.19B |
| EPS (Basic) | $1.15 |
| EPS (Diluted) | $1.15 |
| Shares Outstanding (Basic) | 1.04B |
| Shares Outstanding (Diluted) | 1.04B |
Key Highlights
- 1Kinder Morgan operates a vast network of approximately 80,000 miles of pipelines and 180 terminals, positioning it as a major North American energy infrastructure player.
- 2The company conducted significant "drop-down" transactions, transferring assets from the parent (KMI) to its MLPs (KMP and EPB) to optimize its financial structure and asset management.
- 3KMP completed a major acquisition of Copano for approximately $5.2 billion, significantly expanding its natural gas midstream capabilities and market presence.
- 4Kinder Morgan is actively pursuing growth through substantial capital expenditure programs, with plans to invest approximately $3.6 billion in capital expansion for KMP in 2014.
- 5The company's business strategy is focused on stable, fee-based transportation and storage assets, aiming to increase asset utilization and shareholder value through operational efficiency and accretive acquisitions.
- 6Dividends per share for KMI Class P common stock saw an increase, reflecting a projected 8% rise for 2014 compared to 2013.
- 7The company maintains a diversified portfolio across six reportable business segments: Natural Gas Pipelines, CO2—KMP, Products Pipelines—KMP, Terminals—KMP, Kinder Morgan Canada—KMP, and Other.